T-Ray Science, Inc.

T-Ray Science, Inc.

February 09, 2010 09:00 ET

T-Ray Science, Inc. Announces Collaboration With the University of Leeds and Engagement of Investor Relations Firm

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2010) - T-Ray Science, Inc. (TSX VENTURE:THZ) ("T-Ray" or the "Company"), an emerging leader in the field of TeraHertz ("THz") research, today announced that it has entered into a research collaboration with the University of Leeds to develop low cost, pulsed and continuous wave ("CW"), fibre coupled terahertz (THz) spectrometers that operate at telecoms wavelengths. Professor Edmund Linfield (Chair in Terahertz Electronics, Director of the Institute of Microwaves and Photonics) will lead the project in the School of Electronic and Electrical Engineering, with Dr. John Cunningham (Reader in High Frequency Electronics and Terahertz Photonics), and Professor Giles Davies (Chair of Electronic and Photonic Engineering). The commercial advantage to developing a spectrometer at the telecom wavelength is the ability to use mass produced telecom components such as lasers, fibres and couplers which could reduce the cost of a system by 90% compared to THz systems currently available.

"The collaboration with the University of Leeds could lead to low cost, compact and easy to use THz diagnostic and imaging systems for applications in medical imaging, explosives detection, airport security, and manufacturing quality control," said Thomas Braun, President and CEO of T-Ray Science. "We are honoured to have the opportunity to work with a world class university in developing this cutting edge technology. T-Ray is a natural industrial partner for the University of Leeds as we hold the exclusive license from MIT (the Massachusetts Institute of Technology) for the CW coherent detection system. Our collaboration with the University of Leeds compliments our other collaborations with the University of Victoria, the University of Sherbrooke and the University of Manitoba, all aimed at lowering the cost and increasing the power of existing THz diagnostic and imaging systems."

The University of Leeds received a grant from the Engineering and Physical Sciences Research Council of the United Kingdom to fund a project to develop a low cost, pulsed and continuous wave ("CW"), fibre coupled terahertz (THz) spectrometer which operates at telecoms wavelengths. T-Ray supported the grant application and will assist in the project through laboratory tests of the newly developed system. The Company will also have the opportunity to license any Intellectual Property that may result from the project.

T-Ray owns the exclusive license from the Massachusetts Institute of Technology for the only known CW coherent detection system which was invented by Drs. Simon Verghese and Alex McIntosh. The CW system being developed by Leeds will produce continuous THz waves at a fixed frequency for a very low cost and will be more compact and robust because of the use of mass produced diode lasers, rather than the large and expensive Ti:Sapphire lasers traditionally used by THz researchers.

T-Ray is also pleased to announce that it has engaged Caliber Capital Partners Inc. to provide investor relations and communications activities for the Company. Caliber Capital is a Canadian capital markets consulting company focused on providing investor relations and corporate finance services to public companies. Under the terms of the agreement, Caliber will receive a monthly retainer of $5,000 for a period of up to 12 months. Subject to the necessary approvals, T-Ray also intends to grant to Caliber an option to purchase 250,000 common shares of the company at a price of $0.20 per share for a period of five years. The options shall vest over a period of 12 months pursuant to TSX Venture policy.

About the University of Leeds

The 2008 Research Assessment Exercise showed the University of Leeds to be the UK's eighth biggest research powerhouse. The University is one of the largest higher education institutions in the UK and a member of the Russell Group of research-intensive universities. The University's vision is to secure a place among the world's top 50 by 2015.

Research on this project will take place in the School of Electronic and Electrical Engineering, which was the top-rated electronic and electrical engineering department in the UK in the 2008 Research Assessment Exercise (RAE), with an overwhelming 80% of activity rated as internationally excellent or world leading.

Over the last two years, Professors Linfield and Davies have received over EUR 4M of funding from two prestigious European Research Council Advanced Investigator Grants, which are aimed at supporting the very best established research leaders to carry out pioneering work in their fields.. This funding will be used to study both the physics and technology of low-dimensional electronic systems at terahertz frequencies, and the fundamental science and potential applications of terahertz quantum cascade lasers. Quantum cascade lasers are small, and potentially portable, sources of radiation in the terahertz frequency range of the electromagnetic spectrum. Dr Cunningham, Professor Davies and Professor Linfield also have an extensive funding portfolio from the Engineering and Physical Sciences Research Council (EPSRC) in the UK.

About T-Ray Science, Inc.

T-Ray has exclusive rights to platform technology and is developing a Skin Cancer Imaging device which utilizes the unique properties of TeraHertz waves (THz). The Company is developing a new THz sensing and imaging technology that would constitute a new modality of medical imaging with potentially expanding applications in other areas of cancer imaging. THz waves lie in the frequency range between microwaves and infrared waves on the electromagnetic spectrum. T-Ray Science, Inc. seeks to harness the power of THz waves to develop revolutionary new medical imaging products.

The Company also has a Tablet Analyser for pharmaceutical applications such as drug authentication under development. The Center for Medicines in the Public Interest in the USA predicts that counterfeit drug sales could reach US$ 75 billion globally in 2010 if action is not taken to curb the trade. T-Ray offers a portable, low cost, easy to use, point of care solution, which is patented and in final production engineering with Sanmina SCI.

Forward Looking Statements

This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of TeraHertz based products, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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