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March 12, 2009: Mediscience Technology Corporation Completes Acquisition of SensiVida Medical Systems, Inc. Merged entity is SENSIVIDA MEDICAL TECHNOLOGIES, INC. with New Board and CEO – CTO management, team February 12, 2009: MEDISCIENCE TECHNOLOGY CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Unregistered Sale of Equity November 17, 2008: BioScopix, a wholly owned subsidiary of Mediscience, acquires SensiVida Medical Systems; Merged entity to be named SensiVida Medical Technologies, Inc; Strong management, CEO-CTO team, takes helm June 26, 2007: Infotonics/Mediscience Announce Funding and Development Agreement May 23, 2007: Mediscience Technology Corp/BioScopix Names Dr. Fredrick Naftolin Chief Medical Officer February 2, 2007: Mediscience and Infotonics Announce Dr. Laura Weller-Brophy as Biomedical Product Development and Commercialization Manager December 19, 2006: Mediscience Technology Corp. Retains Investment Banking Firm Empire Financial Group to Lead Financing Strategies to Fund Growth Initiatives October 11, 2006: Infotonics/Mediscience Announce Funding and Development Agreement July 24, 2006: Infotonics Center to Develop Protoype Optical Biopsy Pill for Mediscience Technology Corporation July 24, 2006: Infotonics/Mediscience Announce Memorandum of Understanding June 13, 2006: Mediscience Technology Corp. Reports Investment Banking Agreement for a "Firm Commitment Public Offering" for Its Ingestible Diagnostic Pill Mediscience Technology Corporation Completes Acquisition of SensiVida Medical Systems, Inc. Merged entity is SENSIVIDA MEDICAL TECHNOLOGIES, INC. with New Board and CEO – CTO management, team CHERRY HILL, N.J. -- March 12, 2009 Peter Katevatis Esq., Chairman, Mediscience Technology Corp. (OTC BB “MDSC”) of Cherry Hill, New Jersey, a company developing minimally-invasive auto- fluorescent based technology for early detection of cancer, today announced a major expansion of its technology platform with the completion of the acquisition of SensiVida Medical Systems, Inc., a Rochester, NY based bio-medical diagnostic company. SensiVida filed a Form 8-K with the SEC on March 9, 2009 to announce the merger as effective. The merged entity is named SENSIVIDA MEDICAL TECHNOLOGIES, INC. A highly experienced and successful corporate management team has assumed the helm of the new company. SensiVida Medical Systems is a minimally-invasive diagnostic device company. Its proprietary, Microsystems-based technology automates bio-sensing and data acquisition while minimizing patient discomfort. SensiVida’s “platform” technology addresses a number of disease-state diagnostics: allergy testing, pain-free automated glucose monitoring without bio-fouling, blood coagulation testing, TB testing, and cholesterol monitoring. SensiVida has an exclusive worldwide license under nine pending patents. Several working prototypes of the allergy test system and proof-of- principle human clinical results have been accomplished. The product pipe line, based on the same technology “chassis”, includes a portable glucose monitor. This device consists of a patch or chip having multiple, individually addressable sensors that are activated in accordance with the patient’s test schedule, automatically recording the patient’s glucose level without pain, bio-fouling or clogging. David R. Smith has been appointed as Chairman of the new Board of Directors. Messrs. Kamal Sarbadhikari and Jose Mir are appointed as the President and CEO and the CTO of the Company, respectively. Peter Katevatis resigned as CEO, Treasurer and Chairman of the Mediscience Board and continues as a Director of SensiVida Medical Technologies, Inc. new board. Kamal Sarbadhikari is an entrepreneurial senior executive with 40 years of start-up and management of Fortune 1000 companies. Prior to SensiVida, he ran Bausch and Lomb’s $520M surgical businesses. He was part of the original team responsible for commercializing soft-contact lenses, a $5B global business. As a VP of R&D at Bausch and Lomb, he was responsible for the development of the OTC contact lens solution business. He was also the co-founder of Eastman Kodak’s consumer battery business and part of a small team that commercialized Kodak’s first successful consumer digital “Home Imaging” initiative and the “Picture Maker” kiosk for retail photo-scanning and printing. Jose Mir started his career at the Eastman Kodak Company, pioneering new technologies that enabled some of the world’s earliest digital imaging products. He evangelized and co-founded a corporate worldwide innovation initiative that after five years was able to drive significant growth beyond Kodak’s traditional product lines. Mr. Mir had P&L responsibilities for a $16M business that commercialized four radically new digital products- two of them won industry awards for technical excellence. After leaving Kodak, he started and led Infotonics Technology Center’s Innovation initiative, responsible for founding two new start-ups. Most recently, he founded SensiVida Medical Systems Inc. and served as its President/CTO for three years. Mr. Mir is a prolific inventor, has won several professional awards, and has served on boards for companies and universities. David Smith is a founding member of Infotonics Technology Center Inc. and served as its President, Chief Executive Officer and Chairman of the Board from 2002 to 2008. Mr. Smith also previously served as the Chairman of the Board for OIDA (Optoelectronic Industry Development Association). His professional memberships include the Institute of Electronics Engineers (IEEE Senior Member) and American Society for Quality. Mr. Smith began his Kodak career in 1965 as an electrical engineer. He has had many diverse assignments in Kodak Apparatus Division and Kodak Park Engineering with increasing levels of responsibility in design engineering, technology development, process improvement and systems engineering. In 1985 he was appointed Director of Automatic Machine Systems Technology, now known as Manufacturing Systems Technology Division. MSTD is a corporate technical resource that develops manufacturing process technology, designs high performance manufacturing systems and installs these systems in new and existing factories around the world. Effective June 1997, David R. Smith was then appointed Director, Production Systems Engineering & Technology Organization, and Eastman Kodak Research & Development. The organization concentrated on process R&D for discrete products, encompassing media converting, packaging and high volume equipment manufacturing. Mr. Smith remained the R&D Technical Director, Advanced Production & Commercialization Technology Platform until he retired. Mr. Smith has a MS in Electrical Engineering from University of Rochester and a BS in Electrical Engineering University of Massachusetts. Peter Katevatis Esq. has served as Chairman of the Board of Directors and Chief Executive Officer since 1993 and as a director since 1981. Mr. Katevatis has been a practicing attorney in Philadelphia, Pennsylvania, Marlton, New Jersey, New York State and the District of Columbia. Mr. Katevatis served as a trustee of the New Jersey State’s Police and Fireman Retirement Pension Fund from 1989 to 1996 and as a member of the New Jersey Investment Council from 1990 to December 1992. Mr. Katevatis is a member of the American Arbitration Association, serves as an arbitrator with the National Association of Security Dealers and is a member of the National District Attorney’s Association and the New York Academy of Science. See 8-K filed March 9, 2009 Investor Notice Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the company's ability to implement its long range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission Contact: David R Smith, 585-230-5171 Kamal Sarbadhikari, 585-208-8336 Jose Mir, 585-230-2723 Peter Katevatis Esq, 215-485-0362 MEDISCIENCE TECHNOLOGY CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Unregistered Sale of Equity On February 4, 2009 the Registrant, Sensivida Medical Technologies, Inc. ("SensiVida") and William Baker ("Baker"), an existing shareholder of SensiVida, entered into an agreement under which Baker agreed to purchase up to $250,000 of Series A preferred stock, par value $1.00 per share (the "Series A Preferred"), with an initial payment of $100,000 upon execution of the agreement and three payments of $50,000 each every six months after execution of the agreement. The investor accelerated the first $50,000 payment, so the Registrant received aggregate payments of $150,000. The Series A Preferred are preferred as to dividends and liquidation to the shares of SensiVida's common stock, each share of Series A Preferred is convertible into 15 shares of SensiVida's common stock, the Series A Preferred pay interest of 12% per annum, payable in stock or cash at Baker's discretion, the Series A Preferred have a right to participate in future financings by SensiVida, including a right of first refusal to acquire collateral proposed to be used as security for such future financings and the Series A Preferred have full ratchet anti-dilution protection in the event that SensiVida issues securities at a lower price than the conversion price of $0.066 per share. Baker also receives a warrant that is exercisable for five years to acquire at an exercise price of $0.15 per share up to 500,000 shares of SensiVida's common stock assuming that Baker purchases $250,000 of Series A Preferred. SensiVida has the right to purchase the outstanding Series A Preferred and unexercised warrants in the event that the bid price of SensiVida's common stock averages $1.00 or more for 15 trading days. The terms of the agreement described above are only a summary of its terms and are qualified in their entirety by reference to the agreement which is attached hereto as Exhibit 10.1 and incorporated by reference into this Current Report on Form 8-K. BioScopix, a wholly owned subsidiary of Mediscience, acquires SensiVida Medical Systems; Merged entity to be named SensiVida Medical Technologies, Inc; Strong management, CEO-CTO team, takes helm CHERRY HILL, N.J., Nov 17, 2008 -- Peter Katevatis Esq., Chairman, Mediscience Technology Corp. (OTC BB: MDSC) of Cherry Hill, New Jersey, a company developing imaging technology for early detection of cancer, today announced the acquisition, through its wholly owned subsidiary, BioScopix Inc., of SensiVida Medical Systems, a Rochester, NY based bio-medical diagnostic company with a highly experienced and successful corporate management team that will take the helm. SensiVida Medical Systems, a Delaware corporation, is a minimally-invasive diagnostic device company. Its proprietary, Microsystems-based technology automates bio-sensing and data acquisition while minimizing patient discomfort. SensiVida's "platform" technology addresses a number of disease-state diagnostics: allergy testing, pain-free automated glucose monitoring without bio-fouling, blood coagulation testing, TB testing, and cholesterol monitoring. SensiVida has an exclusive worldwide license under nine pending patents. Several working prototypes of the allergy test system and proof-of-principle human clinical results have been accomplished. The product pipe line, based on the same technology "chassis", includes a portable glucose monitor. This device consists of a patch or chip having multiple, individually addressable sensors that are activated in accordance with the patient's test schedule, automatically recording the patient's glucose level without pain, bio-fouling or clogging. Katevatis also announced that the President and CEO of Mediscience/BioScopix and the newly merged company will be Kamal Sarbadhikari, the current CEO of SensiVida, and the CTO and VP of all business development will be Jose Mir, current CTO of SensiVida. Commenting on the merger and new management Katevatis said, "We are indeed fortunate to merge this leading-edge, synergistic technology into Mediscience/BioScopix thus expanding our minimally-invasive product platform while also attracting competent, proven management talent." Kamal Sarbadhikari is an entrepreneurial senior executive with 40 years of start-up and management of Fortune 1000 companies. Prior to SensiVida, he ran Bausch and Lomb's $520M surgical businesses. He was part of the original team responsible for commercializing soft-contact lenses, a $5B global business. As a VP of R&D at Bausch and Lomb, he was responsible for the development of the OTC contact lens solution business. He was also the co-founder of Eastman Kodak's consumer battery business and part of a small team that commercialized Kodak's first successful consumer digital "Home Imaging" initiative and the "Picture Maker" kiosk for retail photo-scanning and printing. Jose Mir started his career at the Eastman Kodak Company, pioneering new technologies that enabled some of the world's earliest digital imaging products. He evangelized and co-founded a corporate worldwide innovation initiative that after five years was able to drive significant growth beyond Kodak's traditional product lines. Mr. Mir had P&L responsibilities for a $16M business that commercialized four radically new digital products- two of them won industry awards for technical excellence. After leaving Kodak, he started and led Infotonics Technology Center's Innovation initiative, responsible for founding two new start-ups. Most recently, he founded SensiVida Medical Systems Inc. and served as its President/CTO for three years. Mr. Mir is a prolific inventor, has won several professional awards, and has served on boards for companies and universities. Commenting on the merger, Kamal Sarbadhikari said "SensiVida's technology platform combined with the Mediscience/BioScopix technology platform creates a highly innovative, leading-edge medical diagnostics company that has high growth potential across broad market segments with compelling benefits." Investor Notice: SOURCE: Mediscience Technology Corp. SensiVida Medical Technologies, Inc. David R. Smith Chairman drsmith.mail@gmail.com or INFOTONICS/MEDISCIENCE ANNOUNCE FUNDING AND DEVELOPMENT AGREEMENT CHERRY HILL, N.J., Jun 26, 2007 -- Mediscience Technology Corp. (MTC) (OTC:MDSC) ("Mediscience"), executed an agreement dated June 21, 2007 with equity partner Infotonics Technology Center Inc.,(ITC) a Rochester New York not-for-profit corporation, under which ITC agrees to develop through advances in optical, mechanical, electrical, software and diagnostic aspects, and to commercialize, Mediscience's medical diagnostic systems via two initial advanced medical products, the Optical Biopsy Pill (OBP) and the CD Ratiometer (CDR) using tissue auto-fluorescence to detect disease states. The companies have agreed to a series of milestones to be achieved through October 2007 for which Mediscience has agreed to pay $2,000,000. ITC will continue to use its best efforts to secure grant awards to meet the $2,000,000 obligation of Mediscience. The Agreement is also intended to benefit BioScopix, Inc., Mediscience's wholly-owned subsidiary that is expected to own the medical diagnostic systems using tissue auto-fluorescence to detect disease states as that technology is further developed. The parties expect impact funding from a NYSTAR grant award of $750,000 applied for by Infotonics and the receipt by subsidiary "BioScopix" of an initial $2-3M of bridge funding through Empire Financial Group Inc NY, to continue commercialization. The terms of the Agreement described above are only a summary of the Agreement qualified in their entirety by reference to the Agreement filed as Exhibit 10.1 in SEC Form 8-K. dated June 25, 2007. (MTC/BioScopix Inc.) CEO Peter Katevatis Esq. says, "The relationship with equity partner Infotonics is synergistic and strategic, leveraging Infotonics Nano-Technology and Micro-System capabilities and broad resources to provide MTC with an exceptional state of the art advantage, over competitors. (see below Syracuse May 24, 2006 and CityGroup Oct -1-2004 Reports). This agreement properly places MTC proprietary non-invasive imaging technology for molecular detection of cancer and physiological change in the commercialization stage/track. With Infotonics assistance we intend, to use the net proceeds of the Empire Financial Group NY $2 to 3 Million Bridge funding and prospective $5 to $10M Firm commitment Initial Public Offering to fund commercialization of our Optical Biopsy Pill (OBP) and the CD Ratiometer (CDR)." EMPIRE FINANCIAL GROUP Empire Financial is a NASD registered broker dealer approved to provide a broad range of securities services to investors and institutions in all 50 states. The company's home office is located in Longwood, FL. INFOTONICS TECHNOLOGY CENTER INC. Infotonics is a consortium whose founding participants include Corning, Inc., Eastman Kodak Company, and Xerox Corporation, a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. (NYSTAR) NY OFFICE OF SCIENCE, TECHNOLOGY AND ACADEMIC RESEARCH Key goals are: Spur economic development in New York State through academic research; Coordinate and organize New York's wide array of science and technology informational resources and provide our academic, business, and research communities access to these resources. ABOUT MEDISCIENCE TECHNOLOGY CORP. Mediscience Technology Corporation and subsidiary are engaged in the design, development and commercialization of medical devices that detect cancer and physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Their exclusive protected non-invasive technology combines advantages of real-time results with enhanced diagnostic sensitivity and specificity as compared with other methods of cancer detection. INVESTOR NOTICE Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks and uncertainties including market conditions and FDA filings and/or approvals, required before the Camera Pill or the CD Ratiometer can be sold or licensed for use in the United States. This press release is intended to comply with Rule 135c promulgated under the Securities Act of 1933. Submitted in full compliance with sections 8-K 1.01 and 2.01 re: "materiality" as applicable and in fulfillment of SEC Section 6, 6.01 Regulation (FD) Full Disclosure, and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. REFERENCE 8-K filing dated June 25, 2007 8-K filing Syracuse Univ. May 24, 2006 72 Pg Report CityGroup/Smith Barney Report 10-1-2004 by Peter Bye. Page 20 www.Infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp SOURCE: Mediscience Technology Corp. Mediscience/BioScopix Inc. Peter Katevatis, Esq. Chairman CEO metpk@aol.com or Infotonics Tech Ctr. David Smith Pres. CEO 585-919-3001 David.R.Smith@infotonics.org MEDISCIENCE TECHNOLOGY CORP/BIOSCOPIX NAMES DR. FREDRICK NAFTOLIN CHIEF MEDICAL OFFICER CHERRY HILL, N.J., May 23, 2007 -- Mediscience Technology, Corp. (OTCBB:MDSC) announced that Dr. Fredrick Naftolin joined the company as its Chief Medical Officer effective May 18, 2007. Dr. Naftolin has extensive medical Ob/Gyn health experience with specific interest in female endocrinology, diseases of the female reproductive system, Ob/Gyn research, cancer research, and biochemistry of cancer disease. His consultant responsibilities will include consultation as Chief Medical Advisor of MDSC New York subsidiary BioScopix, Inc. in the development and commercialization of MTC/Bio Autofluorescence-Based Diagnostic Methods and Equipment for human cancer screening and diagnosis, and female hormone level detection: e.g. CD-Ratiometer, CPE. About Mediscience Technology/BioScopix Inc Mediscience Technology Corporation and its New York subsidiary, BioScopix Inc., are engaged in the design, development and commercialization of medical devices that detect human cancers in vivo. Such detection is done through the use of Optical Biopsy techniques, wherein light of certain wavelengths is directed onto human tissue in the body, causing the tissue of the body to emit light that indicates whether the tissue is cancerous, benign, or normal. Optical Biopsy (OB) is based on optical spectroscopy for diagnosis of the molecular state of tissue (in vivo or ex vivo) without surgery or dyes. Mediscience's exclusive protected noninvasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other, more invasive, methods of cancer detection. About Mediscience/BioScopix and Infotonics Technology Center Mediscience/ BioScopix and the Infotonics Technology Center are engaged in the selective design, development and commercialization of MTC medical devices i.e. Capsule Diagnostics System (CPE) for GI tract cancer detection, and CD-Ratiometer (CDR) for detection of cancers and their related physiological changes using non-invasive technology (MTC Intellectual Property). This collaboration exclusively combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection in a Capsule or hand held endoscope format. Infotonics w/ MTC support is forming a high-performance Commercialization Program Team to transfer the photonic Capsule technology CPE from research to market in a timely manner, including commercial prototypes and pilot production for FDA trials. Infotonics will provide incubation office and lab space in the Infotonic Technology Center for Mediscience/BioScopix to accelerate the commercialization schedule. Investor Notice Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the parties/company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include among other things, the availability of financing, the parties/company's ability to implement its long-range business plan for the joint or independent development of various applications of its technology/IP; the company's ability to enter into future agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary US regulatory i.e. FDA clearances applicable to applications of the company's technology; and management of growth and other risked and uncertainties that may be detailed from time to time in the parties/company's reports filed with the Securities and Exchange Commission. This disclosure is intended to satisfy: SEC Section 6, 6.01 Regulation FD, disclosure and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. 8-K SEC filing May 22, 2007 Naftolin employment agreement and abbreviated CV filing. www.infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp www.medisciencetech.com ref: Syracuse University Report dtd 2/26/2006 CITIGROUP/Smith Barney Analyst Report 10-1-2004 see Pg. 20 SOURCE: Mediscience Technology, Corp. Mediscience/BioScopix Inc. MEDISCIENCE AND INFOTONICS ANNOUNCE DR. LAURA WELLER-BROPHY AS BIOMEDICAL PRODUCT DEVELOPMENT AND COMMERCIALIZATION MANAGER CHERRY HILL, N.J., Feb 02, 2007 -- Infotonics Technology Center and BioScopix Inc. a Delaware "Spin-Off" subsidiary of Cherry Hill New Jersey-based Mediscience Technology Corp. (MTC), (OTCBB:MDSC), a developer of proprietary non-invasive imaging technology for molecular detection of cancer and physiological change, announced Dr. Laura Weller-Brophy as Biomedical Product Development and Commercialization Manager. Dr. Brophy will focus her efforts on bringing to market optical diagnostic products being developed by Mediscience "Spin-Off" subsidiary BioScopix, Inc., in collaboration with equity partner Infotonics. MTC-BioScopix Inc. and Infotonics initiatives include a CD-Ratiometer and an Optical Biopsy Pill, both designed to detect cancer within a patient's body, without surgery or dyes, through MTC propriatery technology based on optical spectroscopy. "Laura has extensive experience in the field of optics," said Infotonics CEO David R. Smith. "Her appointment is a key step as we expand our research and development and commercialization efforts in identified biomedical markets." Dr. Weller-Brophy, who holds bachelor's, master's, and doctoral degrees in Optics from the University of Rochester, most recently held the title of intellectual property and business strategist, optical display films, at Eastman Kodak Company. In addition to four years as an optical scientist at Kodak, her experience includes research and management positions at Corning, Inc., and 3M. She is the author or co-author of some 20 scientific papers and publications, and is listed as a holder of 22 United States patents. Mediscience Chairman Peter Katevatis Esq. stated, "Dr. Brophy's hands-on presence is expected to enhance and accelerate MTC's ability to commercialize our patented Optical Biopsy technology platform." About the Infotonics Center The Infotonics Technology Center Inc. (Infotonics) is a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. Infotonics is structured as a consortium whose founding participants include Corning, Inc., Eastman Kodak Company, and Xerox Corporation. Academic participants include some 20 New York State colleges and universities. Infotonics' goal is to establish a unique, world-class research and development facility to enable rapid commercialization of new products. This initiative will provide major benefits to the region, including creation of jobs and attraction of new companies and investment revenue. INVESTOR NOTICE: Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the parties/ company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include among other things, the availability of financing, the parties/ company's ability to implement its long-range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary US regulatory clearances applicable to applications of the company' technology; and management of growth and other risked and uncertainties that may be detailed from time to time in the parties/ company's reports filed with the Securities and Exchange Commission. This disclosure is intended to satisfy: SEC Section 6, 6.01 Regulation FD, disclosure and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. See Web sites: www.infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp MEDISCIENCE TECHNOLOGY CORP. RETAINS INVESTMENT BANKING FIRM EMPIRE FINANCIAL GROUP TO LEAD FINANCING STRATEGIES TO FUND GROWTH INITIATIVES Mediscience Technology Corp. (OTC Bulletin Board: MDSC) announced that it has retained investment banking firm Empire Financial Group as placement agent to raise $2.0 million in bridge financing through a private placement on a "best efforts" basis with investor conversion rights to participate in a prospective firm commitment IPO to be lead by Empire Financial Group that is expected to raise not less than $5 million and as much as $10 million. David R. Smith, CEO, INFOTONICS, said, "With this bridge funding investment, Infotonics is forming a high-performance Commercialization Program Team to transfer the photonic pill technology from research to market in a timely way, including commercial prototypes and pilot production for FDA trials. Infotonics will provide incubation office and lab space in our Center for Mediscience's NEWCO to help accelerate the commercialization schedule and is assisting NEWCO with top talent for its management team." CEO Peter Katevatis said, "We believe Empire Financial Group is well suited to our needs, they understand our technology IP, corporate relationships, and have been successful in raising capital for technologies and companies similar to Mediscience. The immediate goal of this funding will be together with INFOTONICS to create an ingestible photonic pill that would enable physicians to detect early stage cancer of the complete auto-digestive tract. We believe that such a non-invasive device would lead to reduced mortality and health care costs, and increase the number of people who could be screened for this type of cancer." Mr. Ed Cabrera, Head of Investment Banking, Empire Financial Group said, "We are very pleased to have the opportunity to work with Mediscience Technology Corp and INFOTONICS. We believe their patented technologies and expertise properly nurtured and matured could experience rapid acceptance and revenue growth in their respective substantial target market. We are moving quickly to finance Mediscience's NEWCO subsidiary, evidenced by our current private placement offering of securities. After closing, which we anticipate within 30 to 45 days, we will begin plans for the IPO." About Empire Financial Group, Inc. Empire Financial Group and its subsidiaries provide investment banking and corporate financing services, as well as securities brokerage, asset management, and market making services in the United States, Europe and Asia. It provides brokerage services directly to retail customers, and small- to mid-sized institutions. Empire Investment Advisors provides investment advisory services to its customers, independent registered investment advisors, and unaffiliated broker dealers. Empire Financial Holding also offers ancillary services, including market data and financial information, portfolio tracking and records management, cash management services, and account security. Based in Longwood, Florida, the company, founded in 2000, has offices in NYC, NY and other locations throughout the U.S. About Infotonics Technology Center, Inc. Infotonics is a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. Infotonics is structured as a consortium whose founding participants include Corning, Inc., Eastman Kodak Company, and Xerox Corporation. The Rochester Regional Photonics Cluster is an industrial partner, and academic participants include some 20 New York State colleges and universities. Infotonics' goal is to establish a unique, world-class research and development facility to enable rapid commercialization of new products. This initiative will provide major benefits to the region, including creation of jobs and attraction of new companies and investment revenue. About Mediscience Technology Mediscience Technology Corporation is engaged in the design, development and commercialization of medical devices that detect cancer and physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Mediscience's exclusive protected noninvasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection. See Web sites: www.infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp Mediscience December 18, 2006 8-K filing 10.1 Letter Agreement dated as of Dec 2, 2006 between Mediscience and Empire Financial Group, Inc. regarding a best efforts Bridge Financing (See CITIGROUP/Smith Barney Analyst Report 10-1-2004 by Peter Bye. Page 20 Registrant-Info tonics). 8-K filing May 24, 2006 72 Pg Syracuse University Report Investor Notice: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the parties/ company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include among other things, the availability of financing, the parties/ company's ability to implement its long-range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary US regulatory clearances applicable to applications of the company' technology e.g. FDA; and management of growth and other risked and uncertainties that may be detailed from time to time in the parties/ company's reports filed with the Securities and Exchange Commission. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future. SOURCE: Mediscience Technology Corp. Mediscience Technology Corp. Peter Katevatis Esq., Chairman, CEO 215-485-0362 metpk@aol.com. or Infotonics David R. Smith, President, CEO 585-919-3001 David.R.Smith@infotonics.org or Empire Financial Group Edward Cabrera or Mike Chenery, 646-329-7002 Fax: 212-355-4691 INFOTONICS/MEDISCIENCE ANNOUNCE FUNDING AND DEVELOPMENT AGREEMENT CHERRY HILL, N.J., Oct 11, 2006 -- Mediscience Technology Corp.(MTC) (OTC:MDSC) has agreed to provide $10,000 per month of seed funding beginning October 2, 2006, for a period of up to five months, to equity partner Infotonics Technology Center, Inc. of Rochester New York to accelerate joint progress towards commercialization of (MTC) Optical Biopsy Pill through a "Newco" (NYS) subsidiary of (MTC) . Infotonics will use this initial Funding to hire and assign a full-time Commercialization Program Manager (CTO) to continue and accelerate Infotonics' efforts on behalf on (MTC) to achieve product commercialization success. (MTC) has additionally contracted commercialization responsibility and oversight of its photonics technology IP platform to Infotonics who will develop the (MTC) Optical Fluorescence IP platform via two initial advanced medical products, the Optical Biopsy Pill (OBP) and the CD Ratiometer (CDR). The parties expect that within this five months period, funding from a (NYSTAR) grant award of $750,000 applied for by Infotonics plus, on satisfactory completion of (MTC) due diligence, the receipt by "Newco" of an initial $2-3M of bridge funding from Empire Financial Group Inc NY, should become available to continue the commercialization program. (MTC) CEO Peter Katevatis Esq. says, "The relationship with equity partner Infotonics is synergistic and strategic, leveraging Infotonics Nano-Technology and Micro-System capabilities and broad resources to provide (MTC) with an exceptional state of the art advantage, over competitors." (see below Syracuse May 24, 2006 and CityGroup Oct -1-2004 Reports). This agreement places (MTC) proprietary non-invasive imaging technology for molecular detection of cancer and physiological change in the commercialization stage/track. We intend, with Infotonics assistance, to use the "Newco" net proceeds of the Empire FinancialGroup NY proposed $5 to $10M Firm commitment in the form of an Initial Public Offering to fund the commercialization of our Optical Biopsy Pill (OBP) and the CD Ratiometer (CDR)". EMPIRE FINANCIAL GROUP Empire Financial is a NASD registered broker dealer approved to provide a broad range of securities services to investors and institutions in all 50 states. The company's home office is located in Longwood, FL. Infotonics Technology Center Inc. Infotonics is a consortium whose founding participants include Corning, Inc., Eastman Kodak Company, and Xerox Corporation, a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. New York State Office of Science, Technology and Academic Research Key goals are: Spur economic development in New York State through academic research;Coordinate and organize New York's wide array of science and technology informational resources and provide our academic, business, and research communities access to these resources About Mediscience Technology Corp. Mediscience Technology Corporation and subsidiary "Newco" are engaged in the design, development and commercialization of medical devices that detect cancer and physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Mediscience's exclusive protected non-invasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection. Investor Notice Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks and uncertainties including market conditions and FDA filings and/or approvals, which are required before the Camera Pill or the CD Ratiometer can be sold or licensed for use in the United States. This press release is intended to comply with Rule 135c promulgated under the Securities Act of 1933. (Submitted in full compliance with sections 8-K 1.01 and 2.01 re: "materiality" as applicable and in fulfillment of SEC Section 6, 6.01 Regulation (FD) Full Disclosure, and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. 8-K filing dated October 10, 2006 8-K filing Syracuse Univ. May 24, 2006 72 Pg Report CityGroup/Smith Barney Report 10-1-2004 by Peter Bye. Page 20 www.Infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp SOURCE: Mediscience Technology Corp. Mediscience Technology Corp. Peter Katevatis Esq., Chairman/CEO, 215-485-0362 metpk@aol.com or Infotonics Technology Center Inc. David R. Smith, President, CEO, 585-919-3001 david.r.smith@infotonics.org INFOTONICS CENTER TO DEVELOP PROTOYPE OPTICAL BIOPSY PILL FOR MEDISCIENCE TECHNOLOGY CORPORATION Financial backing provided by New York City investment group CANANDAIGUA, N.Y., Aug. 8 -- The Infotonics Technology Center, a New York State Center of Excellence in photonics and microsystems, and Mediscience Technology Corporation of Cherry Hill, NJ, a leader in the design, development and commercialization of products that detect cancer, today announced their intention to work together to develop and bring to market an optical biopsy pill. As outlined in a memorandum of understanding, Infotonics will further miniaturize a current prototype of the diagnostic pill -- earlier referred to as a compact photonic explorer or "camera pill" -- and will produce a sufficient quantity to conduct market trials for FDA approval. Last month, Mediscience announced it had secured a firm commitment offering from a New York City-based investment group that will provide between $5 million and $10 million to support the project. The optical biopsy pill is designed to be swallowed, then to travel through a patient's digestive tract. Using ultraviolet radiation, the pill can detect abnormal tissue cells and transmit the information to an external monitor. Current commercially available "camera pills" provide images from within the digestive tract, but do not supply diagnostic information. "Our optical biopsy pill demonstrates great promise in providing a non-invasive, preliminary means of detecting in vivo pre-cancerous and cancerous tissues in the upper digestive tract," said Peter Katevatis, Mediscience's chief executive officer. "Our agreement with equity partner Infotonics allows us to leverage the Center's unique microsystems and photonics capabilities to provide a diagnostic pill with tremendous market potential," he said. Infotonics' CEO David Smith said: "This project is an excellent example of the type of collaborative effort that our Center of Excellence strives for to drive economic development. Infotonics-funded research on the compact photonic explorer has been going on at seven universities -- six of them in New York State -- over the past several years." The proof-of-concept research was led by Dr. Robert Alfano and his department at City University of New York. Other universities contributing to the research effort included SUNY Albany, SUNY Binghamton, RPI, RIT, University of Rochester, and Boston University. Infotonics and Mediscience are hoping that development of the manufacturable prototype can begin at the Center this fall. Investor Notice Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks and uncertainties including market conditions and FDA filings and/or approvals, which are required before the Camera Pill or the CD Ratiometer can be sold or licensed for use in the United States. This press release is intended to comply with Rule 135c promulgated under the Securities Act of 1933. (Submitted in full compliance with sections 8-K 1.01 and 2.01 re: "materiality" as applicable and in fulfillment of SEC Section 6, 6.01 Regulation (FD) Full Disclosure, and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. 8-K filing dated July 24, 2006
The Infotonics Technology Center Inc. (Infotonics) is a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. Infotonics is structured as a consortium whose founding participants include Corning, Inc., Eastman Kodak Company, and Xerox Corporation. Academic participants include some 20 New York State colleges and universities. Infotonics' goal is to establish a unique, world-class research and development facility to enable rapid commercialization of new products. This initiative will provide major benefits to the region, including creation of jobs and attraction of new companies and investment revenue. For more information, access www.infotonics.org. About Mediscience Technology Mediscience Technology Corporation and its New York subsidiary, Medi-photonics Development Company LLC, is engaged in the design, development and commercialization of medical devices that detect cancer and molecular physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Mediscience's exclusive protected non-invasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection. SOURCE Infotonics Technology Center
INFOTONICS/MEDISCIENCE ANNOUNCE MEMORANDUM OF UNDERSTANDING CHERRY HILL, N.J., Jul 24, 2006 -- MEDISCIENCE-TECH (OTCBB:MDSC) and Infotonics Research announced the execution of their Memorandum of Understanding defining Infotonics' agreed role and responsibilities in the development and commercialization of the Mediscience Optical Biopsy Pill. The parties expression of understanding is to commercialize the optical biopsy pill through the formation of a "Newco" subsidiary of Mediscience. Infotonics' responsibilities in support of Newco include the following:
Mediscience CEO Peter Katevatis Esq. stated "This project will enhance Mediscience proprietary non-invasive imaging technology for molecular detection of cancer and physiological change and the Company's desire to use the net proceeds of the proposed $5 to $10M Firm Offering to fund commercialization of its platform IP Optical Biopsy Pill technology to its initial FDA application as it also begins to initiate its FDA approved CD-R pilot clinical trials for a cervical diagnostic application adjunct to Pap. The relationship with equity partner Infotonics is a synergistic and strategic fit leveraging Infotonics nano-technology capabilities and resources to provide Mediscience with an exceptional state of the art advantage, over competitor's Given-Olympus imaging approach." (see below Syracuse May 24, 2006 and CityGroup Oct -1-2004 Reports) Infotonics Technology Center Inc. (Infotonics) is a consortium whose founding participants include Corning, Inc., Eastman Kodak Company, and Xerox Corporation, a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. About Mediscience Technology Corp. Mediscience Technology Corporation and subsidiaries are engaged in the design, development and commercialization of medical devices that detect cancer and physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Mediscience's exclusive protected non-invasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection. Investor Notice Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks and uncertainties including market conditions and FDA filings and/or approvals, which are required before the Camera Pill or the CD Ratiometer can be sold or licensed for use in the United States. This press release is intended to comply with Rule 135c promulgated under the Securities Act of 1933. (Submitted in full compliance with sections 8-K 1.01 and 2.01 re: "materiality" as applicable and in fulfillment of SEC Section 6, 6.01 Regulation (FD) Full Disclosure, and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. 8-K filing dated July 24, 2006 8-K filing Syracuse Univ. May 24, 2006 72 Pg Report CityGroup/Smith Barney Report 10-1-2004 by Peter Bye. Page 20 (MTC-Infotonics). www.Infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp Mediscience 8-K filing dated September 8, 2004 New England Journal of Medicine 7-29-04 (general results of developing capsule endoscopic technology) SOURCE: Mediscience Technology Corp.
MEDISCIENCE TECHNOLOGY CORP. REPORTS INVESTMENT BANKING AGREEMENT FOR A "FIRM COMMITMENT PUBLIC OFFERING" FOR ITS INGESTIBLE DIAGNOSTIC PILL CHERRY HILL, N.J. --June 13, 2006-- Mediscience Technology Corp. (OTCBB:MDSC) and a New York Investment Group executed an agreement seeking a minimum of $5 million and a maximum of $10,000, 000 on terms favorable to the company's shareholders and providing for a "firm commitment public offering" by the company's wholly owned subsidiary for its Ingestible Diagnostic Pill (the "Compact Photonic Explorer") presently under joint development with its equity partner Infotonics Research of Rochester, NY. The Underwriting Agreement and related agreements shall contain such other terms and conditions as are customarily contained in agreements of such character. Peter Katevatis CEO states that the Mediscience/Infotonics photonic technology based Biopsy Pill (CPE) demonstrates great promise in providing a non-invasive, preliminary means of detecting in vivo pre-cancerous and cancerous tissues in the upper digestive tract with the use of diagnostic photonics molecular data as compared to other scientific technology platforms upon which pill technology is being produced; e.g. (Given Imaging--Olympus). Our agreement with equity partner Infotonics is a synergistic and strategic fit leveraging the Center's unique nano-technology capabilities and resources to provide Mediscience, present and future associates with an exceptional state of the art competitive advantage. The Mediscience/Infotonics Photonic Biopsy Pill has the potential to become a market leader in diagnostic technology, perhaps the industry standard, as a new molecular diagnostic device that physicians will embrace because it addresses real concerns of the current marketplace. Infotonics Technology Center and Mediscience Technology Corp. (MTC) are jointly developing the "Compact Photonic Explorer" (CPE), or "pill camera," for medical applications. The initial focus of the project is developing a (CPE) that would detect cancer and monitor body functions. The (CPE) stems from a collaborative, Infotonics-funded research effort at eight universities over the past two years. The proof-of-concept research for the (CPE) was led by Dr. Robert Alfano and his team at City University of New York (CUNY), Binghamton, RPI, Rochester Institute of Technology, the University of Rochester, and Boston University. About Mediscience Technology Mediscience Technology Corporation and its New York subsidiary, Medi-photonics Development Company LLC, is engaged in the design, development and commercialization of medical devices that detect cancer and molecular physiological change using frequencies of light that are emitted, scattered and absorbed to distinguish malignant, precancerous, or benign tissues from normal tissues. Mediscience's exclusive protected non-invasive technology combines the advantages of real-time results with enhanced diagnostic sensitivity and specificity compared with other methods of cancer detection. About the Infotonics Center The Infotonics Technology Center Inc. is a not-for-profit corporation that operates New York State's Center of Excellence in Photonics and Microsystems. The Rochester Regional Photonics Cluster is an industrial partner, and academic participants include 20 New York State colleges and universities. Infotonics' goal is to establish a unique, world-class research and development facility to enable rapid commercialization of new products. This initiative will provide major benefits to the region, including creation of jobs and attraction of new companies and investment revenue. 8-K filing May 24, 2006 52 Pg Syracuse University Report www.infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp See Mediscience 8-K filing dated September 8, 2004 (See CITIGROUP/Smith Barney Analyst Report 10-1-2004 by Peter Bye. Page 20 Registrant-Infotonics). INVESTOR NOTICE: Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the parties/ company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include among other things, the availability of financing, the parties/ company's ability to implement its long-range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary US regulatory clearances applicable to applications of the company' technology; and management of growth and other risked and uncertainties that may be detailed from time to time in the parties/ company's reports filed with the Securities and Exchange Commission. This disclosure is intended to satisfy: SEC Section 6, 6.01 Regulation FD, disclosure and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G.
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