News

Placing and admission to trading
25 May 2007

TyraTech (AIM:TYR), the pioneer of safer, effective and natural pesticide products, has today published its admission document relating to its Placing and Admission to trading on AIM.

Highlights:

• gross proceeds of the Placing of £25 million ($49.7 million);
• Placing price of 500 pence per share;
• market capitalisation of £110 million on Admission, based on Placing price;
• Admission and dealings expected on 1 June 2007;
• proceeds to be used to facilitate product development and commercialisation, enhance the Company’s product support operations and retire existing debt obligations; and
• Nomura Code Securities Limited (“Nomura Code”) is acting as Nominated Adviser and both Nomura Code and Jefferies International Limited (“Jefferies”) are acting as joint brokers to the Company.

TyraTech is developing and commercialising natural, safer and highly effective plant-oil derived products to kill or repel insects and parasites. These products are selectively toxic to invertebrates through the targeting of specific chemo-receptors present in insects, parasites and other invertebrates, but absent from humans and other mammals.

The Company has more than 24 products in active development and plans to release six of these within the next twelve months.  TyraTech is currently working with a number of leading blue-chip partners: Syngenta Crop Protection AG, The Scotts Company LLC, Arysta LifeScience North America Corporation, and Kraft Foods Holdings.

“The positive international reception by high quality institutional investors reflects the exciting, innovative products that TyraTech is bringing to the global markets” said Douglas Armstrong PhD, Chief Executive Officer of TyraTech.  “We are particularly indebted to our talented employees and appreciative of our world class partners for their ability to recognize and invest in a new standard of highly potent products that control insects and parasites yet are safer for humans, animals and the environment – a standard being increasingly sought by the pesticide industry and now recognized by the capital markets.”

For further information:

TyraTech Inc. Alan Reade, Executive Chairman www.tyratech.com	1 (321) 409 - 7720
Nomura Code Securities
Charles Walker	Tel: +44 (0) 20 7776 1200
	www.nomuracode.com

Media enquiries:

Abchurch Communications
Heather Salmond	Tel: +44 (0) 20 7398 7700
heather.salmond@abchurch-group.com
Gareth Mead
gareth.mead@abchurch-group.com
Stephanie Cuthbert
Stephanie.cuthbert@abchurch-group.com	www.abchurch-group.com

 

About TyraTech, Inc.

TyraTech is pioneering a new class of highly effective pesticides and anti-parasitic compounds to address global markets in agriculture, horticulture, functional foods, healthcare and veterinary science.  Using a proprietary chemoreceptor screening process, TyraTech has identified both individual, and combinations of, natural oil compounds that bind to neurological and olfactory receptors of insects and parasites so that they can be effectively repelled or killed.  TyraTech’s natural product lines are designed to selectively target invertebrates, but not humans or other mammals, and overcome resistance through attacking multiple sensitive biologic receptors.

The Company has developed multiple routes to market for its products including through strong partnerships with major multi-national commercialisation partners such as Syngenta Crop Protection AG; The Scotts Company LLC; Arysta LifeScience North America Corporation; and Kraft Foods Holdings, Inc.

Operating within a US$23 billion worldwide market that is being increasingly driven by environmental legislation and end-user demand, TyraTech continues to develop new product applications based on safer, natural ingredients.

For further information, see www.tyratech.com.

Dr Geoffrey Nicholas Vernon, B.Pharm, Ph.D, MBA, CDir, Non-Executive Chairman. Non-Executive Chairman of XL Tech Group Inc and former executive director of Rothschild Asset Management Ltd., partner of the venture capital group Advent Limited, and chairman and/or nonexecutive director of a number of quoted and privately owned companies in the US, UK, Germany, Ireland and Israel. He is also a fellow of the Institute of Directors and one of the first directors in the UK to be admitted as a Chartered Director.

Dr R. Douglas Armstrong, Ph.D, Chief Executive Officer. Dr Armstrong has over twenty years’ experience in the assessment and development of biotechnologies, as well as in depth corporate management experience at public and private biotechnology, medical device and development research companies. Prior to his appointment at TyraTech, Dr Armstrong was CEO and Chairman of Aastrom Biosciences Inc., which he led from start-up, through development, and a public offering on NASDAQ. He has also served on the boards of VisualSonics Inc., Nephros Therapeutics Inc., Cytomedix Inc., Zellera AG (Germany), and the Burnham Institute, where he also served as the Executive Vice President. In addition, Dr Armstrong has served as a member of the advisory board of Wolverine Venture Fund, and staff at Yale University School of Medicine and University of California, San Francisco. Dr Armstrong is a graduate in Chemistry from the University of Richmond, Virginia and he also holds a PhD in Pharmacology & Toxicology from the Medical College of Virginia at Virginia Commonwealth University.

Mr Keith Edward Bigsby, Chief Financial Officer. Mr Bigsby brings over 25 years of senior financial management and boardroom experience to TyraTech, including 14 years within the international operations of US listed technology companies, with particular commercial as well as financial skills. Most recently, Mr Bigsby was CFO at Geotrupes Energy PLC, a developer of renewable energy projects, where he helped prepare that company for a potential IPO on AIM. Previously, from 2001 to 2005 he was Chief Financial Officer at Tadpole Technology PLC and Chief Executive Officer from 2003 to 2005 of a Software Division. Mr Bigsby has worked across Europe, the US and the Far East majoring in technology businesses, with experience in strategic planning and change management.

Mr Richard Keith Brenner, Executive Director. Mr Brenner is the founding CEO of TyraTech and VP of Business Development for XL TechGroup. He has over 25 years experience in brand building, general management, and entrepreneurial enterprises. Prior to TyraTech, Mr Brenner’s was COO of Teen Mania and President of Calyx & Corolla. His general management roles were preceded by three years at PNV, a telecommunications start-up company, eight years in marketing at Procter & Gamble serving in multiple roles, including marketing Director and six years at Leo Burnett Advertising, in account management. Mr Brenner received a Bachelor of Science in business administration from the University of Maryland and a Master of Management degree from Northwestern University.

Mr Alan John Reade, Non-Executive Director (Independent). Currently, Mr Reade is owner of Global Strategy Expression Company, a consulting and advisory services business in the life sciences industry. From 2000 until his retirement in 2005, he served as executive chairman of Merial Limited, a leading animal health company and joint venture between Merck & Co. Inc. and Sanofi-Aventis. Earlier in his career, Mr Reade was head of global integration at Aventis, where he was in charge of merger integration, and Chief Executive Officer and member of the Global Executive Committee at Rhone-Poulenc Inc. He previously has been a director of Sygen International and IFAH, a global animal health association as well as more than 40 Merial subsidiaries.

Mr Barrington Marshall Riley, Non-Executive Director (Independent). After qualifying as a Chartered Accountant, Mr Riley joined the Bowater Organisation, where he had responsibility for the finance function at several operations. From there, he moved to FMC Corporation, the US conglomerate, where he had finance and general management responsibilities for a speciality chemical operation and also oversaw the head office finance function for FMC’s UK operations. He joined Proteus International PLC in 1995 as Finance Director and was closely involved in the merger with Therapeutic Antibodies Inc. to form Protherics PLC in 1999. More recently, he played a major part in negotiating the licensing agreement with AstraZeneca, and a £38 million fundraising and associated acquisitions, completed in January 2007. He has recently announced his intention to step down from the Protherics Board in August 2007.

Dr Kenneth Daniel Noonan, Ph.D, Non-Executive Director (Independent). Dr Noonan is a Partner at LEK Consulting LLP based in London, where he leads the firm’s European life sciences practice, with responsibility for pharmaceuticals, biopharmaceuticals, medical device and diagnostic as well as research product sectors. He is currently a technology partner at Advanced Technology Ventures, a US based venture capital fund. Other positions held by Dr Noonan included Senior Vice President of Corporate Development for Applera Corporation Vice President at Booz-Allen & Hamilton and head of its European Pharmaceutical Practice. He currently serves on the Board of Orchid Biosciences, Inc. and Intercept Pharmaceuticals, Inc. Dr Noonan holds a B.S from St. Josephs University and a PhD in Biochemistry from Princeton University.

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