Virginia Life Sciences Investments and others add further investments in the company

Rehovot, Israel and Richmond, VA November 15, 2011 – ImmunArray, developer of the iChip, a groundbreaking in-vitro auto antibody detection technology, is pleased to announce the promotion of D. Scott Batty Jr., MD to Chief Executive Officer. Dr. Batty will focus on optimizing the development of both commercial opportunities for entry into diagnostic markets as well as fully-developing the capabilities of the pharmaceutical development platform. The detail and versatility of the iCHIP platform will allow a breadth of objective information to select pharmaceutical partners. This information will have a range of benefits, including selecting best-in-class candidate compounds, improving efficiency of clinical development by identifying “high responder” subsets of patients, to tracking manufacturing processes for early warning of specification drift on products. In addition, this platform will allow for the development of companion diagnostics to identify patients most likely to benefit from therapy and support reimbursement.

With this expansion of resources and activity, Eli Sahar PhD, a founder of the company, will lead the expanding research and development activities and operations in Israel and will become Executive Vice President and Chief Technology Officer.

Donna J. Edmonds, ImmunArray’s Chairperson and CEO of the Virginia BioSciences Commercialization Center, the VLSI’s operating subsidiary, states: “We view Immunarray as a very key technology in the rapidly changing healthcare environment, and an important company in our portfolio. It offers the field an advanced and unique capability by using the immune system as a source of critical information about the state of the body. It enables a wide range of applications to help reduce costs and improve care in both the diagnostic and pharmaceutical markets. Dr. Batty and Dr. Sahar provide the ideal complimentary skillsets and experience to lead the company through its next phase of growth.

"I am excited to lead the effort bringing the promise of this technology to the patient and the clinician,” states Dr. Batty. “Having worked at both the patient bedside and in the pharmaceutical industry, I truly appreciate the potential of this platform. It has the promise to guide better treatment decisions and clinical product development. I look forward to building on the tremendous success that Dr. Sahar and his team have accomplished to date."

About ImmunArray:

ImmunArray, founded in 2006, holds an exclusive, worldwide license from the Weizmann Institute of Science to develop and commercialize the iChip technology originally developed at the Weizmann Institute in Rehovot by the world-renowned immunologist Prof. Irun Cohen. The Company is developing a series of novel tests for early diagnosis of immune-related disorders and continues a funded collaborative R&D program with a major pharmaceutical company to support its drug portfolio and enhance the patented technology for individual pre-screening of therapeutic regimens. The company is privately held. For more information: www.immunarray.com

About VLSI:

Virginia Life Science Investments is a business development company that invests in promising life science companies. The portfolio is currently focused on companies that specialize in technologies that support medical device and diagnostics development, ranging from simple devices through platform technologies. The VLSI’s wholly owned subsidiary, VBCC, provides services that accelerate the development and growth of these bioscience companies, helping to mitigate risk and increase overall valuation. The goal is to reduce investment risk by assuring the commercialization of the various technologies are efficiently and effectively managed with VBCC serving as a strategic partner. The VLSI was founded in 2009 and is a for-profit company, supported by private capital. For more information: www.vbcc-inc.com