MONTREAL, QUEBEC--(Marketwire - July 21, 2010) - AgeChem Venture Fund L.P., acting by its general partner, AgeChem Financial Inc. ("AgeChem") announced today that it executed, on July 21, 2010, a subscription agreement (the "Subscription Agreement") with Advitech Inc. ("Advitech") pursuant to which AgeChem acquired 15,000,000 units (the "Units") at a price of $0.05 per Unit for an aggregate consideration of $750,000. The Subscription Agreement was entered into as part of a private placement of Units of Advitech for total gross proceeds of $1,500,000 (the "Private Placement").

Each Unit issued as part of the Private Placement is composed of one common share in the share capital of Advitech (the "Common Shares") and one common share purchase warrant (a "Warrant"). Each Warrant entitles its holder to purchase one Common Share at a price of $0.10 until the date that is 24 months after their date of issuance.

The Common Shares, the Warrants and the Common Shares underlying the Warrants issued to AgeChem as part of the Private Placement are subject to a statutory four-month hold period.

Before the closing of the Private Placement, AgeChem held 15,854,167 Common Shares, representing 21.70% of the issued and outstanding Common Shares at that time and 7,812,500 common share purchase warrants of Advitech, representing, in addition with the Common Shares held and on a fully diluted basis, 25.42% of the issued and outstanding Common Shares at that time. After completion of the Private Placement, AgeChem now has beneficial ownership and control over 30,854,167 Common Shares representing 29.94% of the issued and outstanding Common Shares and over 22,812,500 common share purchase warrants. On a fully-diluted basis, AgeChem holds approximately 35.01% of the issued and outstanding Common Shares.

The securities issued to AgeChem as part of the Private Placement were distributed pursuant to an exemption from the prospectus requirements as set out in section 2.10 of Regulation 45-106 respecting Prospectus and Registration Exemptions.

The Private Placement is a private transaction and therefore was not realized through the facilities of any stock exchange or other market. AgeChem holds the Common Shares and Warrants for investment purposes and, in accordance with applicable securities laws, may increase or decrease its investment depending on market conditions.

An early warning report in respect of the above noted transactions will be filed on SEDAR.

About AgeChem

The AgeChem Venture Fund L.P. is currently investing in companies developing therapeutics targeting age-related diseases. The range of diseases and chronic conditions associated with aging provides a breadth of attractive investment opportunities. AgeChem's principals have been active in the healthcare sector for over 15 years having made investments in several private and public entities. In addition to AgeChem, some of the principals are also managing the GeneChem Technologies Venture Fund L.P. and the GeneChemTherapeutics Venture Fund L.P. (http://www.genechem.com/).

This press release contains forward-looking statements, which reflect AgeChem's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein.