Company Behind Lifesaving Technology Secures Crucial Investment from South West Ventures Fund and GEIF Ventures

August 11th 2006: Atlas Genetics, a company that develops rapid tests for serious diseases including meningitis and the hospital superbug MRSA, is the latest to benefit from the £25 million South West Ventures Fund, which is managed by the YFM Group, and the £5 million GEIF Ventures early growth fund, managed by the NW Brown Group.

The technology developed by Atlas Genetics will allow hospitals and eventually GPs to perform such tests locally and make decisions about treatment within 30 minutes. Currently, hospitals and clinics can take up to 72 hours by which time patients may have become seriously ill.

Formed in 2005 as a spin-out from the University of Bath where it is based, Atlas Genetics is working on an innovative platform that will analyse a clinical sample taken from blood, urine or saliva using a test cartridge inserted into a small portable instrument. An electronic tag developed by the company automatically indicates the presence of DNA from the pathogen causing the disease.

The company has secured £150,000 from the South West Ventures Fund, which was set up to make venture capital available to small and medium-sized enterprises (SMEs) with high-growth potential in the South West region. It has also received an additional £260,000 from Angel investors, including members of the South West Angel and Investor Network (SWAIN), the Great Eastern Investment Forum and £90,000 from GEIF Ventures.

This funding round will enable Atlas, which employs seven staff and continues to work closely with academics and researchers at the University of Bath, to finalize the prototype of the test instrument.

John Clarkson, Chief Executive Officer of Atlas Genetics, said “The funding secured from our investors will take us through to the next critical stage of product development and enable the Company to produce its first prototype products. This will be a unique product and is something we are very excited about. It will radically reduce the amount of time that’s required to carry out sensitive and specific tests for infectious diseases and, ultimately, save lives and decrease costs.”

Peter Davies, investment director with YFM Group, managers of the South West Ventures Fund, said: “This latest deal on behalf of Atlas Genetics - the first time that we have co-invested alongside SWAIN members - represents an excellent opportunity to back an experienced management team in taking forward innovative technology that is set to have a major impact on the rapidly growing DNA diagnostics market”.

Max Bautin a manager with GEIF Ventures, shares similar views: “Atlas Genetics’ proposition to combine simple DNA identification technology with innovative chemistry will revolutionize the infectious disease diagnostics market”.

The professional team involved in finalising this deal included Andrew Betteridge from Ashfords.

ENDS

Notes to editors:

· GEIF Ventures Early Growth Fund is a £5 million fund within the NW Brown Group established with the commitment by the Small Business Service to co-invest with business Angels principally, who are members of the Great Eastern Investment Forum (GEIF), the business angels network managed by the NW Brown Group since 1995.

· GEIFV is able to invest initially up to £100,000 and, if apropriate, to follow up its investment by another £400,000 after 9 months. To date the Fund has invested over £3 million into 19 seed and early stage companies.

· For further information about GEIF Ventures please telephone 01223 720 312, log on to www.geifventures.co.uk  or email geifv@geifventures.co.uk

· For further information about Atlas Genetics log on to www.atlasgenetics.com

- The South West Ventures Fund is a £25M fund that has been set up to provide venture capital to small and medium sized enterprises (SMEs) based in the South West of England. Initial investment can be up to £250,000 with an ability to invest a further £250,000 after six months. In certain circumstances, alongside other new investors, the Fund can follow on its investments to provide a total of £2.5 million to one company. To date the fund has invested £3.25m in 15 companies.

- South West Ventures Fund is managed by YFM Venture Finance Limited part of the YFM Group, an investment and business support services company with more than £250 million funds under management. YFM Group is the UK’s leading institutional investor in SME’s seeking up to £1 million of capital.

- YFM Venture Finance Limited is authorised and regulated by the Financial Services Authority.

- For further information about South West Ventures Fund please telephone 0117 906 3410, log on to www.southwestventuresfund.co.uk or email info@southwestventuresfund.co.uk

Media enquiries

Atlas Genetics Ltd

John Clarkson – CEO, email john.clarkson@atlasgenetics.com , phone: 01225 386871

GEIF Ventures Early Growth Fund

Larissa Chamberlain, email: larissa.chamberlain@nwbrown.co.uk , phone: 01223 720 312

South West Ventures Fund

Matt Anderson, Montage Communications, email: matt@montagecomms.com , phone: 0845 644 5404 / 077470 48731