Centice Corporation names Ray Swanson as Chief Executive Officer

Industry Veteran Brings More Than 20 Years Experience in

Medical Device and Diagnostic Industries

Research Triangle Park, N.C. - July 20, 2006 - Centice Corporation, a pioneer in next generation sensor technology, today announced the appointment of Ray W. Swanson as President and Chief Executive Officer and as a member of the Board of Directors.

Swanson brings more than 20 years experience in the medical diagnostics and devices industry, with an emphasis on commercial and general management roles.  Previously, Swanson was Senior Vice President of Commercial Operations for TriPath Imaging, a publicly traded cancer diagnostics and device company based in Burlington, N.C.

From 1987 to 2000, Swanson held senior management positions of increasing responsibility at Dade Behring, one of the world's largest clinical diagnostics companies. Swanson was part of the team that formed Dade International through the acquisition of the diagnostic business of Baxter International Inc. in 1994. 

“I am pleased to be joining Centice at such an exciting time for the company.  While our immediate focus will be the continued commercialization of our technology in the markets we currently serve, I firmly believe that there are substantial opportunities to extend Centice’s ground-breaking technology into new markets,” said Swanson. “I feel fortunate to have a solid foundation, consisting of a talented team of managers, already in the organization.”

Centice designs and manufactures computational sensors which enable a new generation of high sensitivity molecular analyzers. The company is the exclusive licensee of the Multimodal Multiplex Spectroscopy™ (MMS) technology first developed at Duke University under NIH and DARPA grants for tissue spectroscopy and spectroscopic imaging. Centice leverages this technology with its expertise in instrument design to produce a portfolio of high sensitivity optical sensing modules for the analytical, life sciences, medical and pharmaceutical industries.

Prior to 1987, Swanson held positions with Johnson and Johnson, American Hospital Supply Corporation, Solvay Inc. and Washington University School of Medicine. Swanson has B.S. and M.S. degrees in zoology from Eastern Illinois University and an MBA from the University of Iowa.

“This is an exciting time and we are thrilled that Ray has joined the Centice team,” said Scott Albert, Chairman of the Centice Board of Directors and Managing General Partner of The Aurora Funds Inc., one of Centice’s leading investors.  “Ray’s leadership and commercial experience and success in rapidly growing companies uniquely qualifies him to lead the strategic vision for Centice.”

Albert continued, “I would like to thank Mike Sullivan for stepping into the interim CEO role while the search for a new CEO was conducted. Mike will resume his role as Vice President of Business Development when Ray joins the company.”

ABOUT CENTICE CORPORATION

Centice, founded in 2004, is commercializing a patent-pending computational sensor technology originally developed at Duke University. Centice leverages this technology with its expertise in instrument design to produce a portfolio of high sensitivity optical sensing modules for the analytical, life sciences, medical and pharmaceutical industries. The company has received venture capital investments from The Aurora Funds, Inc. (www.aurorafunds.com) and Novak Biddle Venture Partners (www.novakbiddle.com).  More information on Centice can be found at http://www.centice.com.

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Media Contacts:

For Centice Corporation

Brandon Bryce

Largemouth PR

(919) 623-0620

Company Contact

Director of Business Development
Phone: (919) 405-4264