MONTREAL, QUEBEC -- (MARKET WIRE) -- March 19, 2007 -- ART Advanced Research Technologies Inc. (“ART”) (TSX: ARA), a Canadian medical device company and a leader in optical molecular imaging products for the healthcare and pharmaceutical industries, announced today that it has closed a first portion of approximately $4.5 million of its previously announced private placement of a total of approximately $5.5 million through the issuance common shares and common share purchase warrants to long-time shareholders, directors and executive officers of ART.
