ART Advanced Research Technologies Inc.
TSX : ARA

ART Advanced Research Technologies Inc.

March 15, 2007 14:29 ET

ART Advanced Research Technologies Receives Frost & Sullivan Product Innovation of the Year Award

Award recognizes ART's innovative SoftScan optical breast imaging technology

MONTREAL, CANADA--(CCNMatthews - March 15, 2007) - 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 the Company is the recipient of the 2007 Frost & Sullivan North American Optical Imaging Device Product Innovation of the Year Award, for the SoftScan® optical breast imaging system. The award plaque was presented by Frost & Sullivan at the 2007 Excellence in Medical Devices Award Banquet, which was held on March 14 at the Grand Hyatt San Francisco.

"It is with great pride that ART accepts this prestigious award from Frost & Sullivan, a global growth consulting company. This achievement is a tribute to the innovative design and thought leadership applied by our research and engineering teams whose talents can be relied upon to bring other innovative products based on our optical technology platform to market," said Sebastien Gignac, ART's President and CEO.

"The SoftScan breast imaging system based on near-infrared optical imaging represents a real step forward in breast cancer monitoring and diagnosis," said Sangeetha Prabakar, Frost & Sullivan Research Analyst. "It could quantify small variations in physiological parameters that are indicative of malignancy as well as reproduce results with a high degree of consistency."

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry. For more information on these Awards go to www.awards.frost.com

About SoftScan

The SoftScan optical breast imaging system has been designed first as a complementary diagnostic tool to mammography, with ultimate uses in the detection and treatment monitoring of breast cancer. Its non-invasive, painless approach uses time-domain optical imaging technology, which may allow better characterization of breast tumors as benign or malignant and could provide faster assessment of therapeutic effectiveness. The device was created and developed by ART Advanced Research Technologies Inc.

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. eXplore Optix™, an optical molecular imaging device designed for monitoring physiological changes in living systems at the preclinical study phases of new drugs, is distributed by GE Healthcare and is used by industry and academic leaders worldwide. SoftScan®, an optical medical imaging device, is designed to improve the diagnosis and treatment of breast cancer. ART is commercializing these products in 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. 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 Management Proxy Circular of ART dated October 24, 2006, available on SEDAR (www.sedar.com) under the profile of "ART Advanced Research Technologies Inc. (old)" (ART's predecessor issuer).

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