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Acquisition

13 Nov 2006 07:01

Amphion Innovations PLC13 November 2006 Amphion Innovations plc Acquisition Partner Company Supertron acquires Spin Systems London, 13 November 2006 - Amphion Innovations plc ("Amphion"), a developer oflife sciences and technology businesses, announces today that one of its PartnerCompanies, Supertron Technologies ("Supertron"), a developer of high performanceclinical and preclinical imaging products for magnetic resonance imaging (MRI),has acquired Spin Systems, an Australia based manufacturer of MRI coils andother imaging accessories. Following the acquisition, the enlarged company willchange its name to m2m Imaging Corporation ("m2m") to encapsulate the broadspectrum of "molecule-to-man" imaging products the new combined company isdeveloping. Spin Systems was acquired by Superton for 313,878 Series C Preferred Sharesvalued at $5.00 per share and $752,284 in cash. The total consideration of theacquisition was $2,322,000. Supertron Chief Executive Officer C. Richard Hullihen will serve as the CEO ofthe combined company. Amphion will be the largest strategic investor in m2mwith a 23.5% percent ownership interest. The post acquisition value for m2m is$20m based on the offering price of the Series C Round that closed in July 2006. m2m will combine Spin Systems' well-established portfolio of MRI coils andaccessories with Supertron's cryogenic coil technology. The cryogenic coil hasbeen shown to dramatically improve the performance of the MRI scanner, producingsignificantly clearer images in less time. Richard C. E. Morgan, Amphion's Chief Executive Officer, said: "m2m's evolution demonstrates the strength of Amphion's company building model.Since Supertron became one of Amphion's Partner Companies, we have developed itrapidly from a University start-up into an established, revenue producingcompany, with industry leading partners, strong technology and world classmanagement. "The cryogenic coils have the potential to provide doctors and clinicians withmuch needed superior imaging for earlier disease detection and faster drugdevelopment. m2m's products greatly enhance MRI imaging by reducing scan time,greatly lowering the cost and producing significantly clearer images." For more information please contact: Amphion Innovations plc Josh Berkman, Media Relations +1 (646) 747-7158 m2m Imaging Corp. Cameron Barnard +1 862 368 3524 Financial Dynamics Ben Atwell/John Gilbert +44 207 269 7169 About Amphion Innovations plc Amphion Innovations plc (AMP) is listed on the AIM market of the London StockExchange. Amphion's business activities are the formation, financing, managementand development of life sciences and technology companies, working inpartnership with corporations, governments, universities and entrepreneursseeking to commercialise their intellectual property. Website: www.amphionplc.com About m2m Imaging Corp. m2m Imaging is a market leading developer and manufacturer of conventional andcryogenic preclinical and clinical MRI coils and imaging accessories. Ourgateway technology MRI coils have demonstrated capability of significantlyincreasing speed and resolution of the MRI scanner for imaging molecules to man. m2m's coils have been demonstrated at leading medical institutions such asBrigham & Women's Hospital of Harvard Medical School. Website: www.m2mimaging.com This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
23rd Dec 20097:01 amRNSFunding & IP Licensing Updates
25th Nov 20097:00 amRNSAmphion Partnership with Kuwait University
30th Oct 20095:11 pmRNSTotal Voting Rights
16th Oct 20092:37 pmRNSDirector/PDMR Shareholding
6th Oct 20098:59 amRNSPartner Company Wellgen Release
21st Sep 20092:41 pmRNSDirector/PDMR Shareholding
20th Aug 20097:00 amRNSHalf Yearly Report
25th Jun 20097:00 amRNSIP License Agreements
4th Jun 20097:00 amRNSAGM Statement
14th May 20095:26 pmRNSAnnual Financial Report
13th May 20095:29 pmRNSIssue of Equity
5th May 20097:00 amRNSIP License Agreements
1st May 20097:00 amRNSDirectorate Change
30th Apr 20095:05 pmRNSTotal Voting Rights
7th Apr 20093:54 pmRNSDirector/PDMR Shareholding
26th Mar 20093:47 pmRNSDirector/PDMR Shareholding
16th Mar 20097:00 amRNSFinal Results
4th Mar 200910:51 amRNSNotice of Results
27th Feb 20094:46 pmRNSDirector Dealings
27th Feb 20091:20 pmRNSAmphion Partner AXCESS International Wins Contract
30th Jan 20097:00 amRNSFunding Update
19th Jan 20097:00 amRNSTrading Statement
31st Dec 20087:00 amRNSConvertible Promisory Note Offering
27th Nov 20087:00 amRNSPartner Company Announces IP License Agreement
31st Oct 20083:46 pmRNSTotal Voting Rights
28th Oct 20087:00 amRNSNew CEO for Partner Company
23rd Oct 20087:00 amRNSDirector/PDMR Shareholding
17th Oct 20087:00 amRNSPartner Company Announces IP Licence Agreement
17th Sep 20087:00 amRNSPartner Company - Product Launch
16th Sep 20087:14 amRNSDirector/PDMR Shareholding
18th Aug 20087:00 amRNSInterim Results
1st Aug 20089:00 amRNSNotice of Interim Results
17th Jun 20082:54 pmRNSDirector/PDMR Shareholding
12th Jun 20087:00 amRNSAGM Statement
10th Jun 20087:00 amRNSPartner Company Announces IP
27th May 20087:00 amRNSDSC Fundraising
23rd May 20087:00 amRNSFundraising for Partner Compa
30th Apr 20082:58 pmRNSTotal Voting Rights
8th Apr 20087:00 amRNSPartner Company Fundraising
7th Apr 20083:46 pmRNSFundraising
26th Mar 200812:36 pmRNSDirector/PDMR Shareholding
13th Mar 20087:12 amRNSFinal Results
3rd Mar 20087:01 amRNSPrivateMarkets Fundraising
27th Feb 20088:00 amRNSNotice of Preliminary Results
31st Jan 20084:51 pmRNSTotal Voting Rights
17th Jan 20087:01 amRNSTrading Statement
7th Jan 20087:00 amRNSDirectors Dealings
30th Nov 20074:53 pmRNSTotal Voting Rights
12th Nov 20077:01 amRNSIssue of Equity
5th Nov 20071:59 pmRNSResult of EGM

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