GENOVIS ENTERS INTO COLLABORATION WITH JAPANESE COMPANY MAGNABEAT INC.

Today Genovis signed a cooperation agreement with Magnabeat, a member of the Chisso Group with its strong resources, thereby paving the way for commercial opportunities in Japan.

Genovis is currently represented through distributors in the Korean, Swedish, Danish, British, and Irish markets. In the United States, Genovis works through its subsidiary Genovis Inc. The intention during 2008 is to reach agreements with strategic distributors and partners on all of Genovis' important markets, including the rapidly growing Asian market.

"We are extremely pleased that Magnabeat, with Chisso as a strong owner and its expertise in polymer materials and production of magnetic nanostructures, has chosen us as a partner. The goal is to take full advantage of the potential in the combination of the two companies' technologies and intellectual property through completely unique new products in transfection (gene transfer). If successful this partnership will benefit both Magnabeat and us commercially, while providing us with an excellent opportunity to become established on the Japanese market," says Sarah Fredriksson, CEO of Genovis.

Magnabeat, which is headquartered in Kobe-shi, Hyogo, Japan, manufactures and develops thermo responsive magnetic nanoparticles and applications for biomedical research within the field of biomedicine. The company was founded in 2005 as a spin-off of Chisso Corporation. Chisso Corporation, which owns 90% of Magnabeat, has long been a leader in the Japanese chemical industry.

"We look forward to a rewarding partnership with Genovis, a company with the latest and most advanced technology based on magnetic nanoparticles. By cooperating and combining our technologies we aim to offer the market products that neither of us could produce on our own. With this collaboration we hope to be able to advance our technology one step forward," says Noriyuki Ohnishi, CEO of Magnabeat Inc.

Genovis initiated sales of its products in September 2007 and offers new technological solutions in transfection, RNAi, imaging and antibody tools to customers who work with sophisticated research in pharmaceutical companies and within the academic research community.