Functional Technologies Corp.

Functional Technologies Corp.

June 17, 2008 08:00 ET

Functional Technologies Hires New Chief Scientific Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2008) - Functional Technologies Corp. (TSX VENTURE:FEB) is pleased to announce the appointment of Michael Horne, PhD., as Chief Scientific Officer of the Company.

Dr. Horne is an internationally regarded scientist that has led numerous scientific teams in the successful development and production of commercial human and animal health care products. Most recently, he held the position of Director of Research in the animal health division of Novartis AG. While at Novartis, Dr. Horne played a leading role in the expansion of the company's aquaculture franchise, including the development of the world's first commercialized, fully licensed DNA vaccine. He is the author of more than 100 technical, scientific and general publications, and participates on numerous international scientific committees.

"Very few people possess the acumen to successfully develop a product from discovery through to production and commercialization. Dr. Horne possesses this unique combination of technical skill and business vision, making him an ideal person to lead our growing research and technical team," commented Howard Louie, CEO of Functional Technologies. "Dr. Horne will play a pivotal role in the research and commercial roll-out of our proprietary, Phyterra brand, yeast, and in the expansion of our business through the identification and development of next generation yeast products and innovative products derived from micro-algae for the functional foods and health products markets."

As the Company's Chief Scientific Officer, Dr. Horne will devote himself full-time to leading and mentoring Functional Technologies' growing Research and Development team, which currently consists of eight scientists and technicians. He will be based in the United Kingdom in order to provide the Company with key visibility in the important European market and help facilitate Functional Technologies' future expansion into Europe.

"I see a great opportunity with Functional Technologies to bring ground-breaking, necessary products to consumers in the functional foods and health products markets," said Dr. Horne. "The company is at a pivotal stage in the commercial advancement of its proprietary yeasts and the development of next generation products. I am pleased to bring my experience in the development of biological health products to Functional Technologies' proven management team."

About Functional Technologies Corp.

Functional Technologies is a functional foods and biological health products company that develops and commercializes advanced yeast products, and other novel biological products, for the food and the health care industries. The Company is currently commercializing a platform yeast technology that substantially reduces the formation of ethyl carbamate (also known as urethane, which has been recently reclassified by the World Health Organization up to a Group 2A carcinogen - probably carcinogenic to humans), from wines and other fermented beverages and foods. Functional Technologies has licensed the exclusive worldwide rights to this technology from The University of British Columbia (UBC). The company is expanding the development of next generation products in this area, as well as evaluating new yeast based technologies with broad commercial market applications. In addition Functional Technologies, through its wholly-owned subsidiary, is developing a platform of proprietary biological products for the animal and aquaculture health care markets utilizing proprietary science in the field of micro-algae.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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