Sydney, Australia, 30 October 2008 – Fluorotechnics Limited (ASX:FLS) which produces and sells fluoresences and stains to world markets has listed on the Australian Securities Exchange today at $1.05 per share, a 5 per cent premium to its $1 issue price.

The rapid run-up gave Fluorotechnics an opening market capitalisation of nearly $25 million after raising approximately $7.6 million via its initial public offer (IPO).

The company will use the funds to ramp-up production capacity to meet the strong unmet demand for its proteomics products.

Chief executive officer of Fluorotechnics Dr Duncan Veal said: “This is a very solid revenue generating high growth business. We are ambitious and institutional and retail investors understand what we’ve achieved and what we expect to achieve in the next few years.”

“We’ve also ensured tight escrow rules for earlier investors to maximise share trading stability.”

The company was established in 2002 with management and directors owning almost half of the issued shares.

Lead manager of the IPO is BBY.

Fluorotechnics has an experienced board including John Fletcher, former CEO of Coles Group and David Weber, former president for the Biosciences Division of GE-Healthcare Americas region. The other directors are the two founders of the Fluorotechnics business, Dr Duncan Veal, CEO and Rick Taylor, including Günter Theßeling and Professor Peter Bergquist.

Last year Fluorotechnics acquired ETC Elektrophorese-Technik based near Stuttgart. ETC develops and manufactures high-end electrophoresis consumables including specialised high value gels and instrumentation for DNA and protein electrophoresis.

Fluorotechnics has also acquired The Gel Company in the US. Its product suite enables Fluorotechnics & ETC’s market leading fluorescent stains and non-fluorescent backed gels to operate on the installed base of equipment used in the typical proteomics workflow.

Sales of tools for proteomics experiments are rising as more researchers seek to understand how the expression of proteins are linked with disease.

The company plans to bring 20 new products to the market in the next three years. Fluorotechnics does not require FDA approvals to sell its consumables and is already generating revenues. 98 per cent of sales are overseas.