Additional Investment in Portfolio Companies
3 January 2006 - Amphion Innovations PLC ("Amphion"), the developer of technology and life sciences businesses, today announces that it has completed additional investments in its existing portfolio companies amounting to $2.23 million.
An additional $500,000 has been invested in Motif Biosciences Inc. ("Motif") as part of an ongoing Series B financing. Motif is a population genetics company working to identify the genetic causes of major diseases by working with a unique, rich, and defensible source of human genetic data from the Persian Gulf states.
An additional $750,000 has been invested in AXCESS International, Inc. ("Axcess") (AXSI.OB) as part of an ongoing financing. Axcess provides radio frequency identification (RFID) systems for physical security and supply chain efficiencies.
An additional $980,000 has been invested in FireStar Software, Inc. ("FireStar") as part of an ongoing Series E financing. FireStar is a software company that helps institutions achieve efficiency in their business transactions with their clients. FireStar's flagship product EdgeNode is a complete interface solution for automating business transactions between companies. It is designed to support the unique needs of multi-enterprise process integration.
These follow-on investments, made in line with Amphion's strategy as outlined prior to its August 2005 admission to AIM, follow significant milestones achieved by each of its portfolio companies:
Motif has signed a Letter of Intent with the leading private hospital network in the United Arab Emirates (UAE); filed a provisional patent covering its research; hired a leading population geneticist and additional scientific staff, and completed three years of research and development work in the US and Gulf prior to beginning its sampling program in 2006.
Axcess announced its 4Q2005 revenue (calendar) would be significantly higher than 3Q2005, based upon the rapid increase in awareness of RFID following a WalMart supplier mandate. Axcess announced its turn-key Asset Activator™ RFID system for automatically locating, counting, and protecting enterprise assets such as IT equipment, test equipment, etc. Axcess' "semi-active" tag activation methodology was widely publicized in the trade press as the next wave RFID solution for enterprise tagging of personnel, assets and vehicles of all kinds, further supported by a fourth patent award. Axcess has also discussed in general terms a revolutionary new RFID product it plans to announce in detail and begin selling in 2006.
FireStar has announced the release of EdgeNode, a software product designed to simplify the integration of back-office transactions between multiple enterprises. FireStar also booked its first customer for EdgeNode and filed a broad patent for the technology, with detail examples of 17 different applications. FireStar continues to make good progress in its other market development and distribution efforts.
Additionally, Raymond Mackenzie, formerly of Lazard Frères and Morgan Stanley, has been named to the Board of Directors.
Richard C. E. Morgan, CEO of Amphion, said: "Since Amphion's IPO in the summer of 2005, each of these portfolio companies has made strong progress. As such, we are confident in the outlook for each business and are therefore increasing our investment in all three companies."
For further information please contact
Amphion Innovations plc
Ben Austin, Press Relations
+1 (917) 686.3979
Josh Berkman, Media Relations
+1 (646) 747 7158
About Amphion Innovations plc
Amphion Innovations plc recently listed on the AIM Exchange in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life science and technology companies, working in partnership with corporations, governments, universities, and entrepreneurs seeking to commercialize their intellectual property.
On the web: www.amphionplc.com
About Motif BioSciences, Inc.
Motif BioSciences is a population genetics company focused on discovering genes causing common diseases by utilising human genetic data from the Persian/Arabian Gulf region. Motif is headquartered in the US and London, with additional operations in the Gulf region to develop epidemiological, genealogical and genetic information.
On the web: www.motifbio.com
About AXCESS International Inc.
AXCESS International Inc. (OTCBB:AXSI), headquartered in greater Dallas, TX, provides Enterprise DotTM, Dual-ActiveTM RFID (radio frequency identification) and Real Time Location Systems (RTLS) for asset management, physical security, sensing and supply chain efficiencies. The battery-powered (active) RFID tags locate, identify, track, monitor, count, and protect people, assets, inventory, and vehicles. The patented technology enables applications including: automatic “hands-free” personnel access control, automatic vehicle access control and logistics management, automatic asset management, and sensor management. AXCESS is a portfolio company of Amphion Innovations plc.
On the web: www.axcessinc.com
About FireStar Software, Inc.
FireStar is the provider of EdgeNode, the leading InterEnterprise Service Bus software product for building software applications that automate the exchange of business transactions between companies that are business partners – buyers, sellers, suppliers, vendors, manufacturers, and distributors. FireStar’s EdgeNode expands the market for these InterEnterprise Transaction Applications by directly addressing key obstacles to broader adoption at a significantly lower price point than alternative approaches.
On the web: www.firestarsoftware.com