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U.S. Genomics Recognized for Outstanding Entrepreneurship

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Woburn, MA, June 12, 2008 - U.S. Genomics Inc, a pioneer of single molecule biology technologies for the biodefense and life sciences industries, has been recognized by the NSF for outstanding entrepreneurship at its May NSF SBIR /STTR (Small Business Innovation Research/Small Business Technology Transfer) Phase II Grantee Conference.

In July 2002, U.S. Genomics was awarded a Phase I SBIR grant to create genomic maps by tagging and stretching individual DNA molecules. During the Phase I project, U.S. Genomics achieved fundamental research milestones by mapping long DNA molecules and substantially increasing the throughput and accuracy of its mapping technology. In August 2003, the Company was awarded the follow-on Phase II SBIR grant. As part of the Phase II project, researchers at U.S. Genomics further enhanced the capabilities of its DNA mapping platform. Due to these results and support from interested third party the Company was awarded a Phase IIB supplement in July 2005 which doubled the size of the overall grant and was critical to the success of the this technology.

Results from the SBIR funded work provided critical data to support U.S. Genomics' proposal to apply single molecule technology to the detection of biological threats. This resulted in $33.2 million of funding being provided to U.S. Genomics by the U.S. Department of Homeland Security, Science and Technology Directorate for development of a biosensor under the Bioagent Autonomous Networked Detector (BAND) program. U.S. Genomics' system is now in the prototyping phase.

"The NSF SBIR grants gave U.S. Genomics the opportunity to research and test new ideas that had potential for commercialization, but which were at a stage of development which made significant venture capital funding difficult. Peer review and the NSF funding for proof-of-principle experiments provided a bridge to secure funding for the further development of these technologies." said John J. Canepa, U.S. Genomics President and CEO.