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Ahura Scientific Names Industry Veteran Michael Falvey Vice President, CFO


2/17/2009 7:19:27 AM

WILMINGTON, MA--(MARKET WIRE)--Feb 17, 2009 -- Ahura Scientific, Inc., a leader in rugged, ultra-compact handheld instruments for chemical identification, announced today that it has hired Michael Falvey as Vice President and Chief Financial Officer. Falvey was selected by Ahura Scientific for his more than 25 years of experience managing the finance, accounting, administration, human resource and IT functions at large organizations, including publicly traded companies Aspect Medical Systems and Millennium Pharmaceuticals. In addition, he possesses significant expertise in fund raising, investor and analyst relations, mergers and acquisitions, and alliances.

Most recently, Falvey served as CFO for Aspect Medical Systems, a publicly traded provider of brain monitoring technologies. Prior to Aspect, he was Vice President of Finance at Millennium Pharmaceuticals, a biotechnology company. Earlier in his career, Falvey worked at General Electric, Digital Equipment Corporation and Fidelity Investments, where he served in a series of financial management roles. He received his B.S. in Foreign Service from Georgetown University and his MBA from the Sloan School at MIT, where he was named a Seley Scholar.

"Mike's strong financial leadership experience, particularly with large public companies, will be a complement to our organization as we continue to expand into new platforms, applications and markets," said Doug Kahn, chairman and CEO of Ahura Scientific. "Mike will clearly be a tremendous asset as we take our organization to the next level."

"Ahura Scientific has changed the game with its handheld chemical identification instruments -- from military and civilian first responders dealing with unknown substances to pharmaceutical quality control personnel ensuring the integrity of the supply chain," said Falvey. "I look forward to the opportunity to make an impact at a company that is backed by a strong management team and investors, and is poised to truly transform the industry."

Ahura Scientific and its executives have received numerous prestigious awards, including the Ernst and Young 2007 Entrepreneur of the Year award (Founder and President Dr. Daryoosh Vakhshoori); R&D Magazine's R&D 100; the Industrial Design Society of America Award for Excellence in Industrial Design (IDEA); the 2007 SBANE Innovation Award; the Boston Business Journal's 2008 Best Places to Work Award; the 2008 American Business Award for "Most Innovative Company;" and the company was named number 65 on Inc. magazine's Inc. 500 Fastest-Growing Private Companies of 2008.

About Ahura Scientific, Inc.

Ahura Scientific, Inc. is a leading provider of a new class of ultra-compact analytical instruments. These rugged handheld instruments are used for real-time identification of chemical substances. Customers include government agencies and companies in the safety and security, pharmaceutical, and consumer products markets. Manufactured in the USA in an ISO 9001-certified facility, the company's products offer exceptional portability and performance. For more information, visit www.ahurascientific.com. Contact:

For information, contact: Jenny Viscarolasaga Two Roads Communications, Inc. P: +1-617-331-4944 E: jenny@tworoadscommunications.com


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