Signs Agreement With Singapore-based Biotech Pte Ltd

Swedish
biotech company Genovis AB said on Tuesday October 21, 2008 that it
has signed a distribution agreement with the Singapore-based company Innovative
Biotech Pte Ltd, a subsidiary of Rotary Engineering Limited.

     The
agreement gives Innovative Biotech exclusive rights to sell and market Genovis’
product in Singapore.

     Genovis,
headquartered in Lund, Sweden, offers technological
solutions based on its patented NIMT (NanoInducedMagneticTransfer) technology
to pharmaceutical companies and the academic research community. The company
has 12 employees. Genovis was established in the fourth quarter of 2007.