Investment in Another Company

Oxford Technology 2 VCT PLC
6 December 2000



Oxford  Technology 2 VCT  has invested £150,000  for  ordinary  shares  in
Immunobiology Ltd initially representing about 16.6% of the  equity.  The
investment  is  part  of a total investment of £450,000  alongside  funds
advised  by  Scientific Generics and Yorkshire Fund Managers, giving  the
company  a  fully  diluted  valuation of  ca  £1.25  million.  A  further
investment this month by a US VC group will complete the present  funding
round and  provide  the  necessary  funds  for  the  proof-of-principle
programme for ImmBio's vaccine platform technology.

ImmBio  was set-up last year by Dr Camilo Colaco, previously Director  of
IP at Quadrant Healthcare, to develop the next generation of vaccines for
infectious  diseases  and was awarded a DTI SMART award  for  feasibility
studies on the development of a TB vaccine. ImmBio's  strategy  is  to
develop  vaccines  based on Dr Colaco's discovery  of  the  mechanism  of
antigen  capture  by  the  immune system.  ImmBio's  platform  technology
utilises the pathogen-derived antigens that are naturally captured by  the
immune  system thus maximising immunogenicity without the  need  for  non
specific  adjuvants.  As  well  as  providing  more  effective  vaccines,
ImmBio's  approach  should  enable the  rapid  development  of  candidate
vaccines for new infectious disease targets.

For further information, please contact Oxford Technology 2 VCT on 
01865 784466.