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Innovative Biotechnologies International, Inc.

Sept. 24th, 2003

For the past ten years IBI has been acquiring a series of complementary technologies from Cornell University and integrating them along with other technologies into a biosensor platform with applications in multiple markets.  By establishing strategic relationships with multiple corporations in various markets, IBI is working to commercialize products based upon the intellectual property it has licensed.

Presently, the company is performing feasibility studies on behalf of major corporations in such fields as human "point-of-care" testing, national defense/homeland security, and food/water testing.  Since IBI has the right to sublicense the Cornell technologies, upon successful completion of the various feasibility studies, the Company is able to offer favorable sublicense terms to its various partners. 

In order to dramatically reduce its cost of doing business, IBI subcontracts all of its research programs (presently six are underway) to Cornell University, thus permitting the Company to take advantage of a world-class research institution and scientists.  In addition, IBI is presently the recipient of approximately $ 1.0 Million in NIH grant funding.

The Company's business model has allowed it to operate on a profitable basis for the past three years, during which it has also been cash flow positive.  As the Company's relationship with Cornell University has continued to prosper, IBI is presently seeking to raise an additional $ 2.5 Million of equity to permit the acquisition and development of other cutting edge technologies made available by Cornell University.


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