CHERRY HILL, N.J.--(BUSINESS WIRE)--June 13, 2006--Mediscience Technology Corp. (OTCBB:MDSC - News) and a New York Investment Group executed an agreement seeking a minimum of $5 million and a maximum of $10,000,000 on terms favorable to the company's shareholders and providing for a "firm commitment public offering" by the company's wholly owned subsidiary for its Ingestible Diagnostic Pill (the "Compact Photonic Explorer") presently under joint development with its equity partner Infotonics Research of Rochester, NY. The Underwriting Agreement and related agreements shall contain such other terms and conditions as are customarily contained in agreements of such character.