Ampeak Energy Regulatory News (AMP)

9 Feb 2007 07:00

Amphion Innovations PLC09 February 2007 Amphion Innovations Partner Company Durham Scientific Crystals Closes £1.6m Round Financing London, UK - 9 February 2007 - Amphion Innovations plc today announces that itsPartner Company, Durham Scientific Crystals Ltd. (DSC), a Durham Universityspin-out developing state-of-the-art semiconductor materials for the medicalimaging and security imaging markets, has raised a further £684,000 at £2 pershare for the second close of a larger Series F financing which was firstannounced on 7 November 2006 and which has raised £1.6m in total. Amphion nowowns 25.3% of Durham Scientific Crystals which is now valued at £9m post money. DSC has developed a breakthrough technology that is significant in thetransition from analogue to digital x-ray imaging. The Company hascommercialised the use of materials based on cadmium telluride, the premierchoice for use as digital detectors of x-rays and gamma rays, and will allow forsignificantly improved imaging in markets such as airport security and medicalimaging. The capital raised in this latest round of financing will support continuedproduct and development, staffing and marketing activities. Richard C.E. Morgan, Chief Executive Officer of Amphion, said: "This further fundraising is testament to the continued investor support andinterest that we have in DSC. The company has progressed extremely well over thelast year, and the funds raised will help DSC to continue to develop its IP andproduct portfolio." For further information please contact: Amphion Innovations plcJosh Berkman, Media Relations +1 (646) 747-7158 Financial Dynamics +44 207 269 7169John Gilbert About Amphion Innovations plc Amphion Innovations plc is listed on the AIM Exchange in London under the symbolAMP. Amphion's business is the formation, financing, management and developmentof life sciences and technology companies, working in partnership withcorporations, governments, universities and entrepreneurs seeking tocommercialize their intellectual property. Durham Scientific Crystals, Ltd. Durham Scientific Crystals (DSC) was spun-out from the Physics Department of theUniversity of Durham in 2003. DSC is developing next-generation proprietaryproducts and processes based around key semiconductor optoelectronic materialsfor use in digital x-ray detection for both medical and security applications inrapidly growing international markets. DSC is located in Sedgefield, County Durham. Its technological expertise wasfounded on the results of over three decades of semiconductor research in theworld class Physics Department of Durham University. This information is provided by RNS The company news service from the London Stock Exchange