UTK Utek Corp

RNS Number:3895J
UTEK Corporation
25 September 2006


FOR IMMEDIATE RELEASE                                       25 September 2006


                                UTEK CORPORATION

          TECHNOLOGY TRANSFER TO ADVANCED MEDICAL ISOTOPE CORPORATION

  Transfer includes licence to a compact generator to produce medical isotopes

Tampa, FL & Kennewick WA - UTEK Corporation (AMEX & LSE-AIM: UTK), a specialty
finance company focused on technology transfer, and Advanced Medical Isotope
Corporation (Pink Sheets: ADMD), a company engaged in the development of medical
isotope products to be used in the diagnosis and treatment of cancer and other
diseases, have completed a technology transfer in a stock-for-stock transaction.

The technology transfer includes a licence to two issued patents and two pending
patents developed at the Lawrence Berkeley National Laboratory for technology
that is planned for use in a compact neutron generator to produce radioisotopes.
Such neutron generators could be used to produce medical isotopes in hospitals
and clinics, diminishing the need for long-range transportation of radioactive
products and enabling the production and use of very short-lived medical
isotopes.

William J. Stokes, Chief Executive Officer of Advanced Medical Isotope
Corporation said, "We are enthusiastic about the possibility of supplying
medical isotopes at the patient point of use, which we expect to have the dual
advantages of lowering costs and providing previously unavailable radioisotopes
to the medical fields."

"UTEK is pleased to consummate this technology transfer with Advanced Medical
Isotope Corporation and we look forward to continuing our efforts to provide
additional technology acquisition opportunities for their consideration," says
Jeff Bleil, Ph.D. Chief Technology Officer of UTEK Corporation.

Terms of the transaction

Neu-Hope Technologies, Inc., a company established by UTEK specifically for this
transaction, has been acquired by Advanced Medical Isotope Corporation, in a
tax-free stock-for-stock exchange. Advanced Medical Isotope Corporation issued
95,000 shares of Series A convertible preferred stock to UTEK Corporation in
exchange for 100% of the issued and outstanding shares of Neu-Hope Technologies,
Inc. The shares acquired in the exchange are restricted and may only be resold
pursuant to the requirements of the Securities Act of 1933. The value of the
consideration will be determined based on a valuation in accordance with UTEK's
valuation policy as of the closing date of the transaction.

About Lawrence Berkeley National Laboratory

Lawrence Berkeley National Laboratory is a U.S. Department of Energy National
Laboratory located in Berkeley, California. It conducts unclassified scientific
research and is managed by the University of California. For more information
about Lawrence Berkeley National Laboratory, please visit its website at
www.lbl.gov.

About Advanced Medical Isotope Corporation

Advanced Medical Isotope Corporation is engaged in the development of advanced
production systems and processes for bringing previously unavailable medical
isotopes to the marketplace and advancing systems for local product production.
The field of nuclear medicine has routinely utilised radioisotopes in the
diagnosis of disease while new processes are being pioneered for the targeted
treatment of diseases such as cancer in preference to surgical techniques.
Advanced Medical Isotope Corporation products support the accessibility to these
invasive therapeutic processes by advancing systems for lower cost production
and improving supply availability of medical isotopes to hospitals and clinical
treatment centres.

About UTEK Corporation

UTEK(R) is a specialty finance company focused on technology transfer. UTEK's
services enable companies to acquire innovative technologies from universities
and research laboratories worldwide. UTEK facilitates the identification and
acquisition of external technologies for clients in exchange for their equity
securities. This unique process is called U2B(R). In addition, UTEK offers
companies the tools to search, analyse and manage university intellectual
properties. UTEK is a business development company with operations in the United
States, United Kingdom and Israel. For more information about UTEK, please visit
its website at www.utekcorp.com.



CONTACT:

Advanced Medical Isotope Corporation
James C. Katzaroff                                            +1 509-736-7000

UTEK Corporation
USA:
Tania Bernier                                            +1 813-754-4330 x223

Consulting for Strategic Growth 1
Stan Wunderlich                                               +1 800-625-2236

UK: Bankside                                                 +44 20-7367-8888
Steve Liebmann or Simon Bloomfield


Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking
statements." These forward-looking statements can generally be identified as
such because the context of the statement will include words, such as UTEK or
Advanced Medical Isotope Corporation "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements that describe
UTEK's or Advanced Medical Isotope Corporation's future plans, objectives or
goals are also forward-looking statements. Such forward-looking statements are
subject to certain risks and uncertainties, including the financial performance
of UTEK or Advanced Medical Isotope Corporation, as appropriate, and the
valuation of UTEK's investment portfolio, which could cause actual results to
differ materially from those currently anticipated. Although UTEK and Industrial
Biotechnology Corporation believe the expectations reflected in any
forward-looking statements are based on reasonable assumptions, they cannot give
any assurance that their expectations will be attained. Shareholders, potential
investors and other readers are urged to consider these factors carefully in
evaluating any forward-looking statements. Certain factors could cause results
and conditions to differ materially from those projected in these
forward-looking statements, and some of these factors are discussed below. These
factors are not exhaustive. New factors, risks and uncertainties may emerge from
time to time that may affect the forward-looking statements made herein. These
forward-looking statements are only made as of the date of this press release
and both UTEK and Advanced Medical Isotope Corporation do not undertake any
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances.

UTEK's operating results could fluctuate significantly due to a number of
factors. These factors include the small number of transactions that are
completed each quarter, the value of individual transactions, the timing of the
recognition and the magnitude of unrealised gains and losses, UTEK's dependence
on the performance of companies in its portfolio, the possibility that advances
in technology could render the technologies it has transferred obsolete, the
loss of technology licences by companies in its portfolio, the degree to which
it encounters competition in its markets, the volatility of the stock market and
the volatility of the valuations of the companies it has invested in as it
relates to its realised and unrealised gains and losses, the concentration of
investments in a small number of companies, as well as other general economic
conditions. As a result of these and other factors, current results may not be
indicative of UTEK's future performance. For more information on UTEK and for a
more complete discussion of the risks pertaining to an investment in UTEK,
please refer to UTEK's filings with the Securities and Exchange Commission.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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