ART Advanced Research Technologies Inc.
TSX : ARA

ART Advanced Research Technologies Inc.

November 14, 2007 15:55 ET

ART Advanced Research Technologies Inc. Files Final Short Form Prospectus for Common Share Offering

Offering to result in total gross proceeds of CAD$5,000,000.

MONTREAL, CANADA--(Marketwire - Nov. 14, 2007) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

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, is pleased to announce that it has signed an underwriting and agency agreement with a syndicate of underwriters led by Desjardins Securities Inc. for a total offering of CAD$5,000,000 at a price of CAD$0.16 per common share resulting in the issuance of a total of 31,250,000 common shares. ART currently anticipates to close the offering on November 27, 2007.

"We are pleased to have secured this offering with the participation of a large number of our current shareholders, especially given current financial market conditions. We can now proceed with the implementation of the next stage of our commercialization strategy, particularly with regards to the direct sales and distribution of our Optix(product", stated Sebastien Gignac, President & CEO of ART. "We are also pleased to see that the management and the directors of the Company are participating to the level of 11.4% of this offering representing the purchase of 3,573,362 common shares", added Mr. Gignac.

ART intends to use the net proceeds of the offering for the commercialization, sale and distribution of the Company's products, including the Optix® and SoftScan® systems, and for the development of new products and applications, as well as for working capital and general corporate purposes.

The complete information with respect to this offering is contained in the final short form prospectus dated November 13, 2007 filed with securities regulatory authorities in each of the provinces of Canada.

The underwriting and agency agreement signed with the syndicate of underwriters led by Desjardins Securities Inc. is for a total offering of (i) 10,483,806 common shares of ART at a price of CAD$0.16 per common share on a firm underwritten basis and (ii) a maximum of up to 18,528,694 additional common shares on a best efforts basis on the same terms. In addition, ART expects to sell up to 2,237,500 common shares concurrently and directly to certain of its U.S.-based executive officers and directors at the same price (bringing the total number of common shares purchased by the management and directors of the Company on a combined basis to a total of 3,573,362 common shares or 11.4% of the offering).

Subject to the fulfillment of the conditions contained in the underwriting and agency agreement entered into between ART and the underwriters, it is expected that the maximum offering will be completed resulting in the issuance of a total of 31,250,000 common shares (including the maximum of 2,237,500 common shares that ART expects to sell directly to certain of its U.S.-based executive officers and directors) for total gross proceeds of CAD$5,000,000.

The other members of the underwriting syndicate are Demers Conseil Inc. and Salman Partners Inc.

The underwriters were granted the option to acquire an additional 4,351,875 common shares within 30 days of the closing of the offering to cover over-allotments and for market stabilization purposes.

This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or pursuant to an exemption from registration. Any public offering of securities made in the United States will be made by means of a prospectus that may obtained from the issuer or selling security holder and will contain detailed information about the company and management, as well as financial statements.

About ART

ART 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® optical molecular imaging system, designed for monitoring physiological changes in living systems at the preclinical study phases of new drugs, is distributed directly by ART in North America and Europe and is used by industry and academic leaders worldwide. The SoftScan® optical breast imaging device is designed to improve the diagnosis and treatment of breast cancer. ART is commercializing the SoftScan optical medical imaging device via a global strategic alliance with GE Healthcare, a world leader in mammography and imaging. Finally, the Fenestra® line of molecular imaging contrast products provide 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. The distribution of the Fenestra line of imaging contrast agents is made through GE Healthcare Bio-Science KK in Japan and is sold directly by the Company in the rest of the world. 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 ART's regulatory filings, including the aforementioned final short form prospectus, available on SEDAR (www.sedar.com).

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