Nicosia, Cyprus, and London, UK, October 11, 2010

Trojantec Ltd, a privately held developer of cancer and cancer stem cells therapeutics, announced today a series of successful fundraising efforts.

The laboratory has been awarded non-dilutive funding and grants from The Research Promotion Foundation (RPF) of Cyprus, through a competitive procedure. The RPF serves as the national organisation for the promotion of scientific and technological research in Cyprus. The grant has been awarded for the development of cancer therapeutics using Trojantec's platform technologies.

In the EU, Trojantec was awarded a ‘Leonardo Da Vinci' grant in the form of non-dilutive funding by the European Commission. The aim of Leonardo da Vinci Multilateral Projects is to improve the quality and attractiveness of the European research and training system. It integrates innovative projects into public and/or private systems and companies at the national, local, regional, or sectoral level.

Finally, the Company announced the completion of a financing deal with the Paraskevaides Group and Phadisco Ltd, with the aim to advance therapies through clinical development and realise their potential for patients as well as add value to the Company and benefit shareholders.