YGEN.L Regulatory News (YGEN)

17 Jan 2005 14:28

BioProjects International PLC17 January 2005 BioProjects International PLC ("Bioprojects" or the "Company") Trading update BioProjects, the AIM-quoted company specialising in funding early stage biotechresearch and development companies, announces that its principal investment,ViaLogy Corp of California, has arranged an additional $1 Million convertibleloan to support its activities during 2005. The loan is being provided by AerisHoldings of Frankfurt, Germany, a company that already has a substantial equitystake in Vialogy. ViaLogy develops and markets active signal processing software solutions thatare applicable to a wide variety of high technology industries. It employs arevolutionary process, Quantum Resonance Interferometry (QRI), which detects anddiscriminates, with very high sensitivity and specificity, data obscured bybackground noise. This enables researchers to reliably identify and understandsignal events that have hitherto been impossible to reveal using commerciallyavailable signal processing. BioProjects also announces that its chairman, Mr. Jim Slater, has resigned fromthe board of ViaLogy, and is being replaced as a director of ViaLogy byBioProjects' deputy chairman and managing director, Mr. Terry Bond. Further information from: Terry Bond 01235 834734 or 07860 842756. This information is provided by RNS The company news service from the London Stock Exchange