August 22, 2008

MTTI Teams Up with Dundee Cell Products Ltd to Help Capture the European Marketplace

West Chester, August 22, 2008 - Molecular Targeting Technologies, Inc. (MTTI) announced today that it has engaged Dundee Cell Products (DCP) as a distributor for Europe. Under this agreement, DCP has the rights to distribute MTTI’s NeuroVue® and CellVue® , SRflour and Steroid Bead product lines for in vitro and in vivo research applications.

Dr. Chris Pak, President and CEO of MTTI commented, “DCP shares our vision and determination in bringing these exciting product lines to the research community in Europe. We envision DCP will play a critical role in capturing the marketplace in Europe”

Dr. Paul Ajuh, Managing Director of DCP said, ”We are delighted to add these new research tools from MTTI to our expanding product range. These exciting products will be very useful to our cell biology customers studying dynamic cellular processes”

Dr. Brian Gray, Vice President of Research of MTTI stated, “Our products fit well with those of DCP’s and should be extremely valuable for DCP’s customers in the areas of cell biology, cancer biology and biochemistry”.

Molecular Targeting Technologies, Inc. (MTTI) is a privately held US based Biotechnology Company founded to develop novel medical imaging products for the diagnosis and treatment of cardiovascular disease and cancer. Recently, the company has established an agreement with GeneSeen for the co-development of an innovative approach for targeting breast cancer mRNA with a radiolabeled peptide nucleic acid targeted to the gene of interest and partnered with Bexion Pharmaceuticals which for a first-in-class biologic product for tumor targeting. The company has further expanded its technology to include novel recombinant rabies vaccines for vaccination of wildlife, human anti-rabies monoclonal antibodies for post-exposure prophylaxis, and a fusion protein technology for improved anthrax and botulinum toxin vaccines. www.mtarget.com

Dundee Cell Products Ltd (DCP) is a spinout company from the University of Dundee (Scotland, UK) created to develop and commercialize novel research tools for biochemistry and cell biology. The company also offers contract research services in these areas as well as SILAC-based and other quantitative proteomics services to its customers. www.dundeecellproducts.com

Contact: Brian Gray, PhD, 610.738.7938.