MONTREAL, CANADA -- (MARKET WIRE) -- September 22, 2006 -- 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 entered into an agreement with Matco Capital Ltd., a private capital firm ("Matco"), to recapitalize and reorganize the Company's corporate structure, providing ART with total proceeds of $7.35 million before transaction expenses, comprised of a non-dilutive financing of $5.85 million, and the ability to realize minimum additional proceeds of $1.5 million in the manner described below.
