MONTREAL, CANADA -- (MARKET WIRE) -- May 14, 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, today announced it has signed a new agreement with GE Healthcare (“GEHC” or “GE”), regarding the worldwide distribution of its eXplore Optix™ preclinical optical molecular imaging system. Under the new agreement, ART is retaining the exclusivity to distribute directly in North America, while GE Healthcare will have exclusivity in the rest of the world, with a strong focus in Asia and Europe. By doing so, ART will capitalize on its market positioning in North America to develop direct sales channels, in particular with large pharmaceutical companies. ART will work closely with GE to take over the responsibility to support the current installed base in North America. This transition is expected to have a minimal impact on existing and prospective customers.
