Information  X 
Enter a valid email address

XL TechGroup, Inc. (XLT)


Thursday 28 September, 2006

XL TechGroup, Inc.

DxTech technology deals

XL TechGroup, Inc.
28 September 2006

Press Release                                                  28 September 2006

                               XL TechGroup, Inc.

                       ('XL TechGroup' or 'the Company')

 DxTech, an XL TechGroup company, announces global technology partnership deals

XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoing
stream of high value new companies, announces that its subsidiary, DxTech LLC 
('DX Tech'), which is developing a fully-automated, point-of-need device that
replaces all common blood and other biological tests currently performed at
laboratories, has completed four milestone development and manufacturing
partnerships deals as part of its on-going advancement strategy.  The agreements
are with:

• Audit Diagnostics Ltd, the manufacturer of innovative
  clinical chemistry reagents based in Cork, Ireland;

• KMC Systems, Inc., a leading supplier of private label
  services for the design, development, and manufacture of medical instruments
  based in the USA;

• SensorTec Ltd, the developer of a robust and adaptable
  platform technology for use in disposable biosensors from Cambridge, UK; and

• thinXXS AG, the producer and developer of microstructured
  components and systems from Germany

The completion of these partnership deals is significant in DxTech's transition
from development towards commercialisation.  XL TechGroup is able to confirm
that these deals do not involve any revenue sharing arrangements, that any fees
payable to the partners are not significant and will be subject to development
milestones.  XL TechGroup maintains an 85.59% equity interest in DxTech.

DxTech's technology targets the clinical medical diagnostic market which is
valued at US$18 billion in the US alone.  These partnerships will also enable
DxTech to further address the US$9.4 billion Pan-European market (Source: AACC/
Scherago International, International Market Briefing VIII (2005)).

The simple-to-use instrument will be used in doctors' offices to perform a wide
range of diagnostic tests with near real time results to achieve immediate
diagnosis, which significantly improves patient care and satisfaction.  This
compares very favourably with current working practices of waiting hours or days
for results from a central laboratory.  Insurance companies will also benefit
from reduced costs due to the elimination of sample shipping and unnecessary
prescriptions written in advance of receiving diagnostic results.  Doctors in
those markets without a national health service, such as the USA, will
additionally benefit directly through increased productivity and personal
reimbursement for the tests.

John Scott, CEO of XL TechGroup, said: 'These partnerships signal DxTech's move
from development through to a trans-Atlantic manufacturing phase.  We are
delighted that DxTech is now targeting key product demonstrations in Q4 2006 and
the completion of its first commercial deals within Q1 2007, well ahead of
schedule.  The agreements position DxTech at the forefront of developments in
worldwide patient diagnosis.'

                                    - Ends -

For further information:
XL TechGroup Inc.
John Scott / Harold Gubnitsky                               Tel: +1 321 409 7403
[email protected]                                

XL TechGroup media enquiries:
Abchurch Communications
Heather Salmond / Gareth Mead                          Tel: +44 (0) 20 7398 7700
[email protected]              


About XL TechGroup

XL TechGroup identifies unmet market needs in the Biotech, Ecotech and Medtech
sectors and then systematically creates and develops successful disruptive
technology businesses to exploit these needs.  The Company has developed a
unique proven method to rapidly bring companies from inception to liquidity,
matching unexploited IP from a group of corporate and technology partners to the
identified unmet market need.  XL TechGroup employs its own predictive algorithm
to ensure the market will rapidly adopt the identified solution and then moves
to scale the company specifically created to exploit the opportunity.

Before forming XL TechGroup, the management team created substantial value for
shareholders over a twelve year period, successfully exiting six technology
businesses at an average market valuation of approximately US$500 million.

The listing of the first company created under the XL TechGroup banner, AgCert
International, continues to validate the systematic approach to value creation.

•                  AgCert International plc was created by XL TechGroup in May
2002 and is a global leader in the production and sale of agriculturally derived
greenhouse gas emission reductions, with business in Europe, Asia, North America
and South America.  AgCert was listed on the London Stock Exchange in June 2005
and XL TechGroup maintains a 24.14% interest in AgCert.

The next companies in the new generation of XL TechGroup businesses are:

•                  TyraTech LLC, which was created by XL TechGroup in July 2004,
is developing a new class of highly effective, non-toxic pesticides using cloned
insect chemoreceptors, based on approved, safe, natural oils.  Its development
is progressing rapidly, particularly in human healthcare applications.
TyraTech, which is 64.8% owned by XL TechGroup, is continuing discussions with
companies in North America, Asia and Europe as well as numerous national public
health programs about the licensing and distribution rights for its patented
formulations in relation to natural insecticide and personal care products.

•                  DxTech LLC was created by XL TechGroup in July 2005, and is
developing a unique micro-fluidic platform that replaces essentially all common
blood tests currently performed at reference laboratories with a
fully-automated, point-of-care device.  This technology has applications in
significantly lowering costs and increasing efficiency for major pharmaceutical
companies in their clinical trials, the provision of diagnostics in developing
countries and delivering a new revenue stream for doctors in the USA.  DxTech is
currently 85.59% owned by XL TechGroup.

•                  PetroAlgae LLC is developing a proprietary
environmentally-friendly algae that generates an estimated two hundred times
more energy per acre than traditional biofuel crops such as soybean oils,
together with a process by which the technology can cost-effectively produce
renewable biofuel and petroleum in many applications such as transportation
fuels (e.g. biodiesel), heating oil, and plastics.  Created in September 2006,
PetroAlgae is 95% owned by XL TechGroup.

XL TechGroup has a number of other opportunities already at an advanced stage in
its business creation pipeline, and expects to create one-to-two new companies
annually that can each achieve a liquidity event worth at least US$400 million
within four years from inception.

XL TechGroup has also entered into a strategic joint venture with GEN3 Partners,
Inc. to create a new company; GenXL LLC.  This value creation entity will
combine the proven methodologies and guaranteed business opportunity flows of
both companies in order to take advantage of the rich pipeline of opportunities
over and above XL TechGroup's core business model.  The collaboration will
provide a pathway to even greater value for XL TechGroup shareholders by
producing a steady flow of new, self generated businesses within the BioTech,
EcoTech, MedTech and Communications sectors.  These will include new companies,
standalone product lines and technology licensing opportunities or an
appropriate mix of these.

For further information, see

About Audit Diagnostics Ltd

Audit Diagnostics is an Irish company engaged in the manufacturing of high
quality, innovative clinical chemistry reagents based in Cork, Ireland.  For 10
years Audit Diagnostics has been providing innovative clinical chemistry
reagents and analysers for the world market.  In this time the company has
introduced a complete range of liquid ready to use reagents for use on all types
of routine analysers from semi automated to fully automated systems.

About KMC Systems, Inc

KMC Systems designs and manufactures medical device instrumentation, including
diagnostic, therapeutic, and biomedical products.  With more than 25 years of
contract manufacturing experience, the ISO 13485 certified and FDA registered
firm has expertise in all aspects of product development, validation and design
for production.  Capabilities include flexible turnkey manufacturing, depot and
field service repair and full compliance with FDA QSR regulations and GMP
practices.  KMC Systems is a wholly owned subsidiary of Kollsman, Inc., an Elbit
Systems of America company.

About SensorTec Ltd

Sensortec is a Jersey based company which has IP in a simple, highly sensitive,
robust and flexible electrochemical biosensor technology which is comfortable
operating in complex environments.  The development of this technology is
currently contracted to Universal Sensors Ltd in Cambridge who is working on an
integrated potentiometric immunosensor platform for contaminants, toxins and
disease markers.  The focus was initially in point-of-use environmental testing
and food quality assurance sectors but will also be suitable for analytical/
diagnostic laboratories, hospitals and the doctor's office.

Sensortec also own a food, feed, grain and soil testing laboratory, NRM, which
routinely provides comprehensive analysis for a number of sectors, including
agriculture, horticulture, environment & waste, forestry, construction, amenity
and sports turf companies.

For further information, see, or

About thinXXS AG

thinXXS Microtechnology AG produces and develops microfluidic and micro-optic
components and systems in plastics.  thinXXS offers several microfluidic
systems, their customization or integration into OEM products, as well as
comprehensive contract services in product development and production.  Among
the markets, which profit from our high-tech solutions, are the life sciences,
medical device technology, pharma, or automation.

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

a d v e r t i s e m e n t