OxyFile #408

LifeTECH Research Supported by $100,000 NRC/IRAP Grant; Third 
Party Validation of Sterinetics Technology

TORONTO, Nov. 12 1996 /CNW/ - LifeTECH Corporation today announced 
that the National Research Council/Industrial Research Assistance 
Program (NRC/IRAP) has awarded $100,000 in support of LifeTECH's 
ongoing research into the sterilization of biological fluids. As 
part of the granting process, NRC conducted a third party review 
and scientific validation of LifeTECH's Sterinetics(TM) System. 
The grant will fund specific research into the sterilization of 
bovine serum using oxidative stress (ozone).

In making the announcement, Walter J. Dermott, LifeTECH's 
President and CEO, said: "LifeTECH is pleased to receive the 
financial support of the Federal Government through NRC/IRAP. We 
also welcome the critical third party validation of our innovative 
technology. Our innovative research into the sterilization of 
bovine sera positions LifeTECH to bring viral deactivation to this 
$1 billion global market. We are building on this research program 
by actively negotiating with major players in the international 
animal sera marketplace, and expect to finalize a strategic 
partnership in 1997. We will apply for additional NRC/IRAP funding 
for Research & Development projects for future applications of the 
Sterinetics System into new market segments."

Bovine serum is used by researchers and manufacturers in medical 
research and the manufacture of human and animal vaccines. The 
marketplace currently relies on Certificates of Analysis from the 
manufacturers to confirm the virus/bacteria-free content of each 
batch of bovine serum. Although a litre of premium fetal bovine 
serum can cost more than $500, many significant problems with 
viral and bacterial contamination do occur. The results of using 
contaminated serum are costly in terms of ruined scientific 
experiments and rejected vaccines. LifeTECH's Sterinetics System 
will assure sterilized bovine serum and other animal fluids that 
will command a premium price in the worldwide marketplace.

LifeTECH Corporation is a Canadian biotechnology company dedicated 
to developing and commercializing innovative technologies to 
sterilize blood and other biological fluids. LifeTECH's 
Sterinetics System is designed to inactivate viruses and bacteria 
in the global blood supply, including the HIV and Hepatitis 
viruses. LifeTECH common shares (LFTK) and warrants (LFTK.WT) 
trade on the Canadian Dealing Network.

From Canada Newswire