Rheonix, Next-Generation in vitro Diagnostic Systems Company, Receives New York State Innovation Award for Bio International 2008

ITHACA, N.Y. – March 25, 2008 – Rheonix Inc., an in vitro diagnostics systems company pioneering single chip, fully-integrated microfluidic systems for near-patient and point-of-care molecular identification of infectious disease and other applications, announced that it has been selected by the New York State Senate and NYSTAR to receive one of two Innovations Awards, which will support the Company’s participation in Bio International 2008.

Founded in 2007, Rheonix’s technology is based on the research and development of Kionix Inc. Kionix is an internationally recognized pioneer in the field of MEMS manufacturing.

“Rheonix is honored to have been selected for this award. We believe that opportunities like BIO 2008 are critically important in showcasing NY State’s technology excellence,” said Dr. Gregory Galvin, Chairman of Rheonix. “Rheonix’s technology solves fundamental issues which have challenged the microfluidics field and enables the use of microfluidics technology in a manner that addresses multiple critical opportunities in the healthcare industry.”

Brian McMahon, President of New York State Economic Development Council, the lead agency coordinating NY Loves Bio remarked, “These awards reflect the commitment on the part of our partners to support and encourage the development of new bioscience companies in New York State. Bio International 2008 is the premier venue for partnering and collaboration opportunities, as well as an outstanding venue to promote a firm’s products and services to an international audience. We are pleased to assist these innovative, start-up firms on their road to success in NY.”