4th October 2008

Completion of Interim Fundraising

NovaBiotics announces the completion of a £750K interim funding led by existing shareholders.  The new board will drive a follow-on funding round which has already been initiated.  Interest in the follow-on round has already been registered from a number of parties. Recent progress in the development of the lead compound, Novexatin™ and commercialisation of the consumer health/cosmeceutical technology assets are milestones that even in the present financial climate put the business on the best footing to continue to secure funds.