Ai2 Limited secures £250 thousand funding from UPF

Ai2 Limited announces that it has raised £250 thousand from the UPF (the UMIP Premier Fund, managed by MTI). The new investment will enable the company to progress the technology platform and seek alliances and partnerships in specific applications, including contact lenses and wound dressings. Dr. Curtis Dobson, founder and director said, "We are delighted to announce the successful closure of this current round. This funding will allow us to build on our successes to date and implement and validate our technology in the hands of partners. " Kevin D'Silva, chairman said the arrival of the UPF Fund as a substantial shareholder and the presence of MTI Partners on the Ai2 board will make a substantial contribution to the direction and management of the Company during 2010 and beyond. We are currently negotiating some key license applications for our peptide technology and the target is to commence commercialisation of these successfully and as soon as possible. Dr. David Holbrook, Director of MTI Partners Limited, managers of the UPF, said: "We have been watching Ai2 develop and have been impressed with its substantial technical and commercial progress for such a young organisation. We have been impressed with the way the company has focussed the technology on a small number of key applications, all of which , such as contact lenses, represent significant unmet need markets. We look forward to helping Ai2 grow into a successful business."