ART Advanced Research Technologies Inc.
TSX : ARA

ART Advanced Research Technologies Inc.

November 27, 2007 09:02 ET

ART Advanced Research Technologies Inc. Announces Closing of Treasury Offering Totaling CAD$5,000,000

MONTREAL, CANADA--(Marketwire - Nov. 27, 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, announced that it has completed its previously announced offering of 31,250,000 common shares issued from treasury at a price of CAD$0.16, resulting is total gross proceeds of CAD$5,000,000. The offering syndicate was led by Desjardins Securities Inc. and included Demers Conseil Inc. and Salman Partners Inc.

The proceeds of the treasury offering will be used as follows: approximately 60% for the commercialization, sale and distribution of the Company's products, including the Optix® and SoftScan® systems, and approximately 40% for the development of new products and applications, as well as for working capital and general corporate 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 be 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 available on SEDAR (www.sedar.com).

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