Amphion Innovations Announces Further Investment

New York City, December 5, 2005 - Amphion Innovations PLC ("Amphion"), the developer of life sciences businesses, today announces that it has raised an additional £1 million through a group of additional investors, nearly four months after floating on the AIM market of the London Stock Exchange.

Amphion has completed a placing of 3.6 million additional new shares, representing 4% of the enlarged issued share capital of the company, to a group of additional investors. The shares were subscribed at 27.5 pence per share, resulting in gross proceeds to Amphion of £1 million (approximately $1.7 million). The placing raises the total number of outstanding shares to 93.6 million.

Richard C. E. Morgan, CEO of Amphion, said:
"In nearly four months, we have made significant investments in our portfolio companies all of which are making promising progress. Since our IPO our Net Asset Value has increased significantly and the additional investor interest underscores the steady development we've been making with our portfolio companies."

In line with its strategy outlined at IPO, Amphion has used its funds raised to build its investments in existing portfolio companies:

• An additional $1 million has been invested in WellGen Inc., bringing Amphion's ownership to 19% on a fully-diluted basis. WellGen is the first biotechnology company using nutrigenomics to discover and develop proprietary products that treat and prevent disease.

• An additional £1 million ($1.8 million) has been invested into Durham Scientific Crystals Ltd., a Durham University spin-out company developing state-of-the-art semiconductor materials for the medical imaging and security imaging markets. This investment by Amphion brought its ownership to approximately 29% on a fully-diluted basis.

• An additional $1 million has been invested in Supertron Technologies Inc., bringing Amphion's ownership position to 30% on a fully-diluted basis. Supertron is developing next-generation high-performance medical imaging products that dramatically improve the imaging capabilities of MRI scanners.

Amphion continues to advance all seven of its portfolio companies (WellGen, Durham Scientific Crystals, Supertron, Axcess International, Beijing Med-Pharm, FireStar Software, and Motif Biosciences) and has made progress with each. The Company continues to consider new opportunities, both in the U.S. and in Europe.

Amphion also announces that its first set of accounts following Admission to AIM will be the group accounts for the period from June 7, 2005 to December 31, 2005. These accounts will be published by March 31, 2006.

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For further information please contact

Financial Dynamics
Ben Atwell / John Gilbert
+44 (0) 20 7831 3113

Amphion Innovations
Ben Austin
baustin@amphionplc.com
1 (917) 686-3979

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About Amphion Innovations plc
Amphion Innovations plc recently listed on the AIM Exchange in London under the symbol AMP.L. 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

Notes
In August, Amphion raised a total of £5 million (approximately $9 million) through a placing of 20 million new shares representing 22.22% of the Company at 25 pence each. A total of 90 million shares were admitted to AIM, bringing the initial market capitalisation of Amphion to £22 million (approximately $40.5 million).

On September 30 2005, exclusive of goodwill, Amphion had net assets of $19.6 million(approximately £10.9 million) and a market capitalization of $44.6 million (approximately £24.8 million) based on its current market price of 27.5 pence.

Summary of Net Assets, excluding goodwill
September 30, 2005 (Unaudited)