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BioImage and RNAx announce Collaboration

Berlin and Copenhagen, January 27, 2005 - BioImage and RNAx announced today the signing of a co-marketing agreement. Under the terms of the agreement RNAx provides BioImage with RNAi knockdown technology to complement their proprietary Redistribution® Assay technology, and vice versa. The goal of the agreement is to provide both RNAx's and BioImage's customers with both technologies from one source. Financial details of the agreement were not disclosed.

BioImage's Redistribution® technology enables high throughput, high content screening on many targets of current interest in drug discovery, including a range of intracellular signalling molecules and cell surface receptors. RNAx's technology provides for reliable automated validation of siRNAs and targets, including those for which BioImage has developed assays.

'I think this agreement is a clear win-win situation, where both companies benefit from the perfect match of two technologies. But most importantly, there is even a third winner: the customer. The combination of the two technologies opens the gate to a new dimension of target validation and pathway studies by receiving validated RNAi data and the matching Redistribution® Assays - both from the hand of experts,' commented Joerg Poetzsch, Chief Executive Officer of RNAx.

'This agreement will help both companies forward their strategies in becoming significant players in the Systems Biology field. The customers will benefit from a one-stop shopping approach in obtaining RNAi services and a specific live cell pathway activity assay from two leaders in the area. We see great growth opportunities in this systems approach, and we believe this agreement will significantly broaden our mutual offering' commented Patrik Dahlen, CEO of BioImage.

About BioImage A/S
BioImage A/S is a Copenhagen-based biopharmaceutical company which focuses on high information content, cell-based assay technology for early stage drug discovery. BioImage's lead technology - we call it Redistribution® - quantifies protein translocation responses in living cells as the primary assay readout. Redistribution® tracks the translocation of relevant protein targets tagged with Green Fluorescent Protein (GFP), and it is used broadly in the discovery process, from target validation through primary and secondary screening, to pathway profiling and lead optimization.

BioImage commercializes Redistribution® through licensing, research partnerships, assay development and transfer, and pathway profiling studies. BioImage has an extensive patent portfolio covering Redistribution® technology, and includes Boehringer Ingelheim, Bristol Myers Squibb, Eli Lilly and Merck & Co. among its licensees.

BioImage employs approximately 30 people at its research facility in Copenhagen, at the center of Medicon Valley. The company is financially backed by leading international investors including Apax Partners, Abingworth Management Ltd. and Novo A/S.

About RNAx GmbH
RNAx is an independent functional genomics research and service company based on the application of RNA interference. RNAx's know-how is based on many years of research and development of reliable high-throughput validation technologies using RNA interference at the Max Planck Institute for Infection Biology in Berlin. RNAx offers its customers automated, and thus rapid and cost effective validation of siRNAs and targets. RNAx was founded by scientists of the Max Planck Institute for Infection Biology in Berlin in December 2002, and is financed entirely by its founders and through the generation of revenues from a number of renowned companies like Qiagen, Proligo and a major international pharmaceutical company.

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