ART Advanced Research Technologies Inc. (ART) (TSX:ARA), a Canadian medical
device company and a leader in optical molecular imaging products for the
healthcare and pharmaceutical industries, announced that earlier today it filed
a notice of intention to make a proposal to its creditors under the Bankruptcy
and Insolvency Act with KPMG Inc. in order to provide the company with the
liquidity it requires to pursue its solicitation process. ART was also
authorized pursuant to an order of the Quebec Superior Court to enter into a
loan agreement with Dorsky Worldwide Corp. for interim financing in an amount of
up to $1,200,000.


The announcement follows the hiring of KPMG LLP as financial advisor to assist
ART in examining its available strategic options, previously announced on
October 29, 2009, and KPMG LLP's analysis as to the best way to proceed during
the strategic review process in view of ART's ongoing financial needs. The new
financing will support ART's business continuity by providing additional
short-term liquidity while KPMG LLP and ART pursue the strategic review process
and continue soliciting purchase offers for the business and assets of ART.


About ART

ART Advanced Research Technologies Inc. is a leader in molecular imaging
products for the healthcare and pharmaceutical industries. ART has developed
products in medical imaging, medical diagnostics, disease research, and drug
discovery with the goal of bringing new and better treatments to patients
faster. The Optix(R) optical molecular imaging system, designed for monitoring
physiological changes in living systems at the preclinical study phases of new
drugs, is used by industry and academic leaders worldwide. The SoftScan(R)
optical medical imaging device is designed to improve the diagnosis and
treatment of breast cancer. Finally, the Fenestra(R) line of molecular imaging
contrast products provides image enhancement for a wide range of preclinical
Micro CT applications allowing scientists to see greater detail in their imaging
studies, with potential extension into other major imaging modalities. ART is
commercializing some of these products in a global strategic alliance with GE
Healthcare, a world leader in mammography and imaging. ART's shares are listed
on the TSX under the ticker symbol ARA. For more information on ART, visit our
website at www.art.ca


This press release may contain forward-looking statements subject to risks and
uncertainties that would cause actual events to differ materially from
expectations. These risks and uncertainties are described in the most recent
Annual Information Form and the financial statements for the year ended December
31, 2008, available on SEDAR (www.sedar.com).
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