SOURCE: ANGLE Technology Ventures

June 05, 2007 09:00 ET

Angle Technology Ventures Forms Aguru Images Inc.

Firm's Company Creation Model to Address Photorealistic Renderings as Biggest Remaining Unsolved Problem of 3D Computer Rendering

WASHINGTON, DC and BOSTON, MA--(Marketwire - June 5, 2007) - ANGLE Technology Ventures LLC, the U.S. technology commercialization arm of ANGLE plc (LSE: AGL), an international ventures management and consulting company listed on the AIM Market of the London Stock Exchange, today announced the formation of a new company, Aguru Images Inc. (www.aguruimages.com), formerly known as Kaloptics, headquartered in Washington, DC.

ANGLE Technology Ventures created Aguru to address the market need for truly photorealistic digital images in computer graphics. Aguru's technology consists of Kaleidoscope technology licensed from New York University's Media Research Lab, and Light Stage and other related technologies from the University of Southern California's Institute for Creative Technologies. Aguru will come to market in Q4 2007 to offer a simple to use, cost-effective method for capturing, manipulating and editing photorealistic textured materials.

ANGLE's approach to value creation, the Progeny® process, is a unique differentiator in the technology transfer arena because it provides not only capital, but also a managed process that includes building the senior management team, conducting market research, developing the business plan, and overseeing product development, as well as market entry strategies. Aguru was formed with an initial investment of $1.5 million.

"The formation of Aguru Images represents one more example of ANGLE's unique value proposition to mine for and license market-changing technologies from universities and other research labs and then to provide the required support for development and commercialization," said Jothy Rosenberg, Ph.D., ANGLE's Director of US IT Ventures. "3M's recent acquisition of Acolyte Biomedica, one of ANGLE's portfolio companies in the UK, validates our unique company formation model."

ANGLE has assembled a seasoned and experienced management team headed by CEO and CTO Craig Miller and COO Saul Orbach to lead the new company. Both have extensive experience in the development and commercialization of advanced technologies. Craig Miller, Ph.D. brings over 30 years of systems engineering expertise and industry knowledge in fluid dynamics, animation and development. He will function as the company's CEO through the product development phase. Saul Orbach comes to Aguru with over 18 years of software industry experience in management, sales and marketing, business development and technology. As an Entrepreneur in Residence at ANGLE, Saul developed and executed the entire process that created and funded Aguru.

"The missing link in today's rendering solutions is the ability to properly recreate the behavior of any surface with light and to measure and model its reflectance and texture properties accurately. Existing technology in this space comes in the form of custom processes that are expensive, time consuming and labor intensive," said Saul Orbach, Chief Operating Officer at Aguru Images. "Aguru will offer an array of products and services that will reduce the time, cost and complexity of post production rendering for simulations and interactive computer graphics; the implications are very broad reaching across many markets."

Aguru will be demonstrating at the SIGGRAPH show to be held August 5-9, 2007 in San Diego, CA in booth 010.

About ANGLE Technology Group

Founded in 1994, ANGLE is an international venture management and consulting company. ANGLE focuses on the commercialization of technology and the development of technology-based industry, from creating new companies to the planning, managing and marketing of research parks, incubators, and other initiatives. ANGLE operates in the United States, Europe and the Middle East. ANGLE has U.S. offices in Charlottesville, VA, Boston MA, and Philadelphia, PA. For more information about ANGLE Technology visit: www.angletechnologyus.com.

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