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AcronGenomics Inc. (AGNM) and Molecular Vision Ltd. Unable to Reach Agreement on the Acquisition of Molecular Vision


4/8/2008 9:19:02 AM

GENEVA--(BUSINESS WIRE)--Acrongenomics Inc., (OTCBB:AGNM) today announces that discussions with Molecular Vision on the remaining acquisition of Molecular Vision have ceased for the present time. Acrongenomics remains a significant shareholder in Molecular Vision, having recently acquired a 10.9% stake in the company. Work will still continue on the joint development agreement between the two companies that commenced in May 2006.

About Acrongenomics:

Acrongenomics Inc. is a publicly traded company that focuses on investing in and commercializing novel technology platforms concerning the Life Sciences sector. Acrongenomics brings novel and realistic concepts to market by transforming scientific innovations into tangible, consumer-orientated applications. The company has its headquarters in Geneva, Switzerland.

About Molecular Vision:

Molecular Vision is an Imperial College spin-out company that develops low-cost diagnostic devices for use in the doctor's surgery and in the home. Its proprietary devices combine microfluidic chips with organic-semiconductor light-sources and photodetectors to provide lab-quality diagnostic tests in a miniaturised, easy-to-use, disposable format.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward- looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions. For further information concerning risks and uncertainties that may affect our future results, please review the disclosures contained in our latest filings with the SEC, including our most recent annual report on Form 10-KSB, and subsequent quarterly reports on Form 10-QSB. Other than as required by federal securities laws, we undertake no obligation to publicly update or revise any of our forward- looking statements, whether as a result of changed circumstances, new information, future events, or for any other reason occurring after the date of this news release.

Contacts Acrongenomics Inc. Dr. Dimitri Goundis, CEO, +41 22 7165300 Fax: +41 22 716 5300


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