Orla Rimmington, Operations Manager, Kernel Capital; Minister for Enterprise, Trade & Innovation, Batt O’ Keeffe TD; Lorraine Spillane, Treasury Manager, Global Markets, Bank of Ireland; John T. O’ Sullivan, CEO, BioAtlantis (from left to right).

Cork, Ireland, 09 June 2010: Kernel Capital confirms that the Bank of Ireland Kernel Capital Fund has made a €750,000 investment in BioAtlantis Limited, an Irish biotechnology company based in the Kerry Technology Park in Tralee with its processing facility in Kanturk, Co. Cork. The announcement was made in Cork by the Minister for Enterprise, Trade and Innovation, Batt O'Keeffe TD.

BioAtlantis is involved in the research, development and manufacture of plant biostimulants and animal prebiotics using molecules derived from seaweeds, with scope for future development of human nutraceuticals. The company's lead products are biostimulants and GutCareTM. Biostimulants are used for promoting plant health and growth. These products are sold across 22 countries worldwide. An EU-wide ban on the use of growth-promoting antibiotics in animal feed has created a market for the new GutCareTM product which has been developed as an alternative to antibiotics in intensively farmed post-weaned piglets. This product launch is based on supporting data generated in University College Dublin over the past 6 years, some of which has been published in a number of peer reviewed journals. The data has been protected through the filing of 2 patents. GutCareTM trials are expected to commence later this year in the poultry industry.

Commenting on the announcement, John T. O' Sullivan, CEO of BioAtlantis Ltd, said: "the funding provided by the Bank of Ireland Kernel Capital Fund will allow for further research and investment in processing equipment that will bring GutCareTM and potential human applications to the market over the next 2 years."

Dr. Daniel O' Mahony, Partner at Kernel Capital added: "BioAtlantis has undertaken a number of animal trials evaluating the anti-microbial and protective effects of their lead bioactive product produced from seaweeds with impressive outcomes. The company has set-up a dedicated process facility in Kanturk, Co. Cork which allows for large scale, cost-efficient manufacturing of the bioactives. We anticipate that the BioAtlantis naturally-derived bioactive products will be welcomed both by pig producers and by consumers world-wide who are more health-conscious and demanding of high-quality food supplies."

Minister for Enterprise, Trade and Innovation, Batt O'Keeffe TD said: 'The Government's strategy on innovation is rooted in the promise of human capital and our capacity to turn ideas into commercialised products and processes so that we can create the 'smart' jobs for tomorrow's workers.

'That is precisely what is happening in the case of BioAtlantis Limited's new product with the support of Kernel Capital.
'The move is in line with Government policy in terms of exploiting the commercial potential of cutting-edge research in one of our higher education institutions.'

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For further information please contact:

Orla Rimmington, Operations Manager, Kernel Capital.
Tel: +353 21 4928974 / Fax: +353 21 4928977