News Story

Samper Joins MTECH Ventures Company

Innovative Biosensors, Inc. (IBI), a firm developing rapid, ultra-sensitive tests to detect harmful pathogens, announced that Phil Samper, formerly of Eastman Kodak and Sun Microsystems, will join its Board of Directors.

Samper has held numerous CEO positions at startup and Fortune 500 companies. His career highlights include serving as vice-chairman and executive officer at Eastman Kodak, where he was directly responsible for 70 percent of Kodak's worldwide operations and was credited with having reorganized Kodak from a functional to a business unit structure. The Wall Street Journal credited his management skills as president of Sun Microsystems Computer Corporation in the stock turnaround of the computer and systems giant. As CEO and chairman of Cray Research, he facilitated a merger with Silicon Graphics, an action that doubled the value of Cray stock at the time of the merger.

Samper has undertaken consulting assignments in areas ranging from mentoring of CEOs to executive recruiting, strategic planning, and marketing direction for startup companies and some Fortune 100 companies. He serves on the Board of Visitors for the Johns Hopkins Medical Center and the Board of Visitors of the A. James Clark School of Engineering at the University of Maryland. He serves on the public board of The Interpublic Group of Companies. Samper cofounded Gabriel Venture Partners and is currently founding partner for the firm.

"We are honored to welcome Phil Samper to our Board," said Joe Hernandez, IBI's president and CEO. "He is a person of great integrity and achievement. His vast operations experience and impressive track record will significantly contribute to the future successes of our company."

"I very much look forward to joining IBI's Board of Directors," said Samper. "This company has limitless growth potential, and I am excited to become a part of this high-quality organization."

About Innovative Biosensors, Inc.

Innovative Biosensors, Inc. is a privately held company developing novel technologies for the rapid detection of pathogens. The company's technology is expected to have broad applications in food testing, animal health, and human health care, including drug discovery and development and disease diagnosis. Additional information is available at www.innovativebiosensors.com.

March 1, 2006