GAI Galileo Inn.

RNS Number:2784A
Galileo Innovation PLC
22 August 2002


Press Release                                          22 August 2002


Galileo Innovation plc

Investment in Astek Innovation Limited

Galileo Innovation plc, the Cheshire-based business accelerator, today announces
that it has selected Astek Innovation Limited as its next investment.  Galileo
has entered into heads of agreement to form Astek Innovation with Dr Alan Segal
and Asden Limited to licence, with an option to acquire, the intellectual
property rights to innovative dental products.

Astek Innovation is a new company that will further develop and exploit a novel
concept in safety devices concerning the serious issue of needle stick injuries,
which can lead to the spread of dangerous viruses such as HIV and Hepatitis.
The Company will be headed by the vastly experienced Dr Alan Segal, a dentist
for 30 years, who established a successful group of practices and a dental
laboratory before recognising the potential for the development of specialised
dental products.  Astek Innovation has been formed with a view to developing the
products and concepts of Dr Segal's original company, Manchester-based Asden
Limited.


In recent years, Asden has developed an extensive range of goods that have won
prestigious awards including, best New Product of the Year (British Dental
Health Foundation), Best Innovation and Best Company of the Year (Securicor) and
a Millennium Product Award (Design Council).  Merchandise developed by Asden
sells through many international dealers worldwide and Dr Segal plans to use
these well-established marketing and distribution channels for the benefit of
the Astek Innovation range.


The dental sector is estimated to be the fastest growing sector of the health
industry. In the UK alone, a recent report by MSI stated that expenditure on
dental care is forecast to rise by 36% by 2006 (Source: Market Strategies Index
- May 2002).  Astek Innovation will be well positioned to take advantage of this
growing marketplace by taking innovative ideas and commercialising them.


Dr. Alan Segal commented: "There is great opportunity to develop more advanced
products that improve safety, quality and convenience.  We focus on areas that
can reduce the chance of cross infection and improve the accuracy of dental
techniques. We have an exciting development programme that will benefit not only
dentists but also dental nurses, hygienists, laboratory technicians and
ancillary care personnel, and of course the patient.'


Paul Davidson, Chief Executive of Galileo Innovation, said: "The Astek
Innovation deal meets with our strict criteria of having a manufactured product
with mass market potential, strong global IP, unique in its field and a visible
exit strategy.  In addition, the Company will have a focused management team and
we are already setting out an ambitious programme to take the range of dental
products forward."


                                    - Ends -


For further information:


Galileo Innovation plc
Paul Davidson, Chief Executive Officer                Tel: + 44 (0) 1625 538 100
Email: paul.davidson@galileoinnovation.co.uk         www.galileoinnovation.co.uk


Astek Innovation Limited
Dr. Alan Segal                                       Tel: + 44 (0) 161 942 3900
Email: ajs@asden.co.uk


Media Enquiries:


Bankside Consultants Limited
Henry Harrison-Topham / Heather Salmond               Tel: +44 (0) 20 7444 4140
Email: henry.ht@bankside.com                                   www.bankside.com








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