PDT Prelude Tst.

RNS Number:5103G
Prelude Trust PLC
29 October 2007


For release 29 October 2007


                 FURTHER PRELUDE INVESTMENT IN OXFORD IMMUNOTEC
                                        
                 Leader in TB diagnostics raises US$40m funding
                                        


Prelude Trust plc ("Prelude" or "the Trust"), the investment trust specialising
in high growth technology-based businesses and managed by Esprit Capital
Management Ltd ("DFJEsprit"), is pleased to announce that portfolio company
Oxford Immunotec ("or the Company") has completed the first stage of a major new
US$40 million Series 'E' funding round. The round, one of the world's largest
for a diagnostics company in 2007, was led by two new international investors,
Clarus Ventures of the USA with Munich based Wellington Partners and has been
provided in two stages.


The Trust has converted #770,000 in loans made to the Company into Series 'E'
shares, has invested a further #175,000 at this stage and reserved a further
#1.1 million for the second stage of the investment. Prelude now has a 16.7%
shareholding in Oxford Immunotec.


Oxford Immunotec is developing novel products based on its patented T-SPOT(R)
technology, opening new ways to diagnose and monitor infection and disease or
specifically to examine a patient's cellular immune response to infection. The
Company's lead product is T-SPOT.TB. a revolutionary in vitro diagnostic that
measures T cells specific to Mycobacterium tuberculosis (MTB) antigens. It was
developed for diagnosing both latent TB infection and TB disease in humans.
T-SPOT.TB sets new clinical standards of sensitivity and reliability,
particularly in the immunocompromised. T-SPOT.TB will be used instead of the
century old tuberculin skin test.


Robert James, a partner with DFJ Esprit and a director of Oxford Immunotec said:
"TB is a major global problem. In 2005 1.6 million people died from the disease.
T-SPOT.TB is a revolutionary product with global potential and is an outstanding
example of how early stage technology from Oxford University can be successfully
commercialised. With TB a serious problem and 30 million skin tests being
carried out in the developed world every year, Oxford Immunotec is well
positioned to provide the world with a much needed diagnostic test for this
illness."


Dr. Peter Wrighton-Smith, CEO and founder of Oxford Immunotec added: "We are
pleased to have the support of this strong investment syndicate and look forward
to working with our new investors. This investment will enable us to prepare for
selling the product in the USA once we receive FDA approval. The funding will
enable us to consolidate our position as a world leader in TB diagnostic
technology and give the Company the resources to apply its world leading
technology to the diagnosis of other infectious diseases."


For further information please visit www.prelude-trust.co.uk or contact:

Dr. Rob James                    John West / Clemmie Carr
Prelude Trust/DFJ Esprit         Tavistock Communications
Tel: 01223 307770                Tel: 020 7920 3150
rob.james@dfjesprit.com          ccarr@tavistock.co.uk




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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