NEW YORK--(BUSINESS WIRE)--Oct. 3, 2005--Advance Nanotech, Inc., (OTC BB:AVNA.OB - News), the premier provider of financing and support services to drive the commercialization of nanotechnology discoveries, today announced financing for BiMAT, a new technology that may aid in the early detection of Avian Influenza (Bird Flu) in humans and animals. One of the key applications for Advance Nanotech's BiMAT technology will be to enable first responders - medics, EMTs and doctors - to instantly analyze microscopic amounts biological material for specific diseases on site. BiMAT technology will eliminate the need to send samples to specialized laboratories, speeding treatment and reducing problems of handling, storage, mislabeling and treatment delay.

"There is a critical need for inexpensive biosensors capable of determining the concentration of different analytes using very small volumes of blood or other biological material in critical care environments, such as ambulances, field hospitals, emergency rooms, and intensive care units," said Dr. Michael Helmus, senior vice president, biopharma, for Advance Nanotech. "The BiMAT technology is accurate and easy to use; it can be deployed in the field to aid in the detection of a variety of infectious diseases in animals and people. We expect this technology will enable the development of biosensors that can be used for the surveillance of emerging diseases such as avian influenza in remote locations allowing rapid response and containment of these diseases."

BiMAT is developing integrated, low cost and disposable sensors and sensor arrays for point of care diagnostics, clinical monitoring and biomolecular research. BiMAT sensors will incorporate thin film polysilicon transistors deposited on lightweight, inexpensive substrates. Two patent filings cover the sensor detection mechanism and a special thin film transistor (TFT) structure that enables integration and separate optimization of the electronic and sensor functions. The low cost, TFT based integrated circuits for readout of the sensors will have a wide range of applications in disposable biosensors.

The investment in BiMAT was made in partnership with The Center for Advanced Photonics and Electronics (CAPE) at the University of Cambridge in the UK. CAPE is an integrated Research Facility for Electrical Engineering with a staff of 20 academics, 70 post-doctoral researchers and 170 research students. The CAPE program is funded by Advance Nanotech, Alps Electric Company Limited, Dow Corning Corporation and Marconi Corporation plc, and is designed to encourage research activities to proceed to development and exploitation in close collaboration with industry. The program enables designers and engineers within academia and industry to benefit from the burgeoning developments in advanced photonics and electronics. In the past five years, approximately numerous patents have been filed and ten spin-out companies have been formed from CAPE research projects.

Advance Nanotech is currently funding 20 portfolio companies in the electronics, biopharma, and materials industries. The firm provides services ranging from funding, to human capital and research equipment essential to ensuring that the most promising companies can accelerate the path to rapid commercialization. In this way, investor exposure to any particular technology is mitigated with Advance Nanotech retaining the option to increase investment in those technologies that successfully mature.

About Advance Nanotech, Inc.

Advance Nanotech Inc. is dedicated to ensuring nanotechnology discoveries reach maximum market potential through successful commercialization. Advance is the trusted guide to commercial success for nanotech entrepreneurs spanning the globe, partnering with leading universities to provide scientists and researchers with mission critical infrastructure support to transform their discoveries to marketable solutions. The organization provides a range of services and support including financing, leadership assets and counsel on intellectual property, licensing and regulatory issues. With a portfolio of 20 companies developing technologies which offer potentially breakthrough nanotechnology discoveries in the electronics, biopharma and materials sectors, Advance's goal is to transform the potential for nanotechnology discoveries into innovative products that further evolve existing industries and enable new markets.

This document contains forward-looking statements by Advance Nanotech regarding its expectations as to its business, and involves risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.

Factors that may cause such a difference include, but are not limited to, problems and risks associated with developments in the nanotechnology industry in general and in Advance Nanotech's products under development in particular; the potential failure of Advance Nanotech's products under development to prove safe and effective in application; uncertainties inherent in the early stage of Advance Nanotech's products under development; failure to successfully implement or complete research programmes; failure to receive marketing clearance from regulatory agencies for our products under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Advance Nanotech's business, structure or projections; the development of competing products; uncertainties related to Advance Nanotech 's dependence on third parties and partners; and those risks described Advance Nanotech 's filings with the SEC. Advance Nanotech disclaims any obligation to update these forward-looking statements.

Further information about these and other relevant risks and uncertainties may be found in the Advance Nanotech's findings with the Securities and Exchange Commission, all of which are available from the Commission as well as other sources.