What do sports drinks, recombinant DNA, search engines, the PSA test and nicotine patches have in common? These breakthroughs were all initially discovered at universities and then transformed into household names by some of the world’s leading companies.

Scientists and business executives are beginning to recognize that the concept of “open innovation” – the belief that companies should out-license their intellectual property, even to competitors – is necessary to bring consumers the best products imaginable.

UTEK Corporation (AMEX:UTK - News)(LSE-AIM:UTK), a leading innovation services company, today announced that it has entered into a Technology Licensing Alliance with Science Applications International Corporation [SAIC] (NYSE:SAIC - News) to make SAIC’s proprietary technologies available to UTEK’s growing customer base.

UTEK will share with SAIC technology search requests. For any SAIC technologies which are deemed relevant to the search criteria and submitted by SAIC to UTEK for consideration, UTEK and its clients will have a 30-day right to first negotiate licensing terms.

“Our goal with this Alliance is to create value from the technology and expertise at SAIC,” said Gian Brown, Managing Director for SAIC’s Technology Commercialization Group. “We are enthusiastic to engage UTEK to assist us in our licensing efforts.”

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK) today announced financial
results for the three months ended March 31, 2008.

Results of Operations

For the quarter ended March 31, 2008, income from operations (revenue)
was $3,665,566 as compared to $7,947,771 for March 31, 2007. Net income
(loss) from operations for the quarter ended March 31, 2008 was
($378,399), as compared to $2,233,391 for the quarter ended March 31,
2007. Approximately 72% and 88% of our income from operations (revenue)
was received in the form of unregistered shares of stock for the
quarters ended March 31, 2008 and 2007, respectively.

UTEK Corporation (AMEX:UTK - News)(LSE-AIM:UTK) today announced that it will report its financial results for the first quarter 2008 on Tuesday, May 6, 2008. UTEK will hold a live conference call at 10:00 a.m. EDT to discuss the results. All interested parties are invited to attend the conference call.'

US & Canada: 866-672-2663
UK: 0-800-032-3836
Other International Callers: 973-582-2772
Please reference conference ID# 45897390

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), a leading Innovation services company, is pleased to announce that its subsidiary UTEK Real Estate Holdings, Inc., has executed a lease with WilsonMiller, Inc. for approximately 8,000 square feet in UTEK’s office center.

“We are very pleased to have WilsonMiller as a tenant, and we look forward to a long term, mutually beneficial relationship. The consummation of this lease brings UTEK’s office center to 100% occupancy,” said Sam Reiber, President of UTEK Real Estate Holdings, Inc.

Clifford M. Gross, Ph.D., Chief Executive Officer of UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), will be participating on Frost & Sullivan’s Chairman Series on Growth webcast on Tuesday, May 6th at 2:00 pm EDT.

Dr. Gross will be co-presenting with Frost & Sullivan’s Chairman, David Frigstad, for the session entitled, “The CEO's R&D Team: Innovation to Drive Profit and Growth.” Dr. Gross will be addressing the challenges that companies face in implementing growth strategies, sustaining top-line growth and exactly how “Open Innovation” can assist in the research and development process. This session will discuss how augmenting in-house research and development with an Open Innovation program can enhance the new product pipeline with a go-to-market strategy that leverages external sources of innovation.

Independent News Service Will Post TekScout Listings

UTEK Corporation’s (AMEX:UTK - News) (LSE-AIM:UTK) TekScout™, an online network that links companies and scientists to help advance research and development processes, has teamed with Science|Business, an R&D news service, to make information available to each other’s readers.

Science|Business, an independent news and events service focused on research and development investment and policy in Europe, connects buyers and sellers of emerging technologies. Through the agreement, Science|Business will post TekScout’s listings to help attract companies and readers to solve challenges posted on TekScout. There is a direct link to www.TekScout.com on the Science|Business homepage. UTEK anticipates that this partnership will help reach its target audience and gain increased exposure and traffic through Science|Business’ readers.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), a leading Open Innovation services company, and Platina Energy Group, Inc. (OTCBB:PLGT - News) (FWB:O5Y), an exploration and production strategic reserve company, are pleased to announce that Platina has acquired Enhanced Oil Recovery, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.

The technology transferred includes an exclusive worldwide license acquired from the University of Texas at Austin for a technology that utilizes a combination of an electrical submersible pump and a jet pump to separate liquid and gas streams. The potential benefit of this system is that it enables a submersible pump and a jet pump to be used in combination in a high gas-to-liquid ratio oil well without installing a gas vent line.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), a leading Open Innovation services company, today announced that the American Institute of Chemical Engineers (AIChE) has signed an Agreement to co-market the innovation services of UTEK Corporation to AIChE’s Society for Biological Engineering (SBE), which contains over 1,500 members representing over 300 companies.

SBE was chosen to pilot this program for AIChE due to the entrepreneurial spirit and fast pace of technology change in this market segment. AIChE’s objective is to provide value to its members by leveraging UTEK’s position as the first full service provider of Innovation Services, including: Innovation Strategic Consulting, Patent Analytics, Global Technology Licensing and Web Based Intellectual Property (IP) Services. AIChE and UTEK will jointly offer all of UTEK’s services to AIChE SBE members as an initial pilot program, which could be expanded to AIChE’s entire member base of over 40,000 members.

Targeted Investor and Media Outreach to Begin for Innovation Services Company

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), a leading innovation services provider, has retained the Investor Relations Group, Inc. (IRG) to serve as its investor relations and public relations firm in the U.S., in order to achieve greater recognition in the financial and media communities. IRG, a thirteen-year-old corporate communications firm, will strive to increase UTEK’s public exposure among investors and the media-at-large through a targeted campaign.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an Open Innovation services company, is pleased to announce that UTEK’s Chief Executive Officer, Clifford Gross, Ph.D., will be a Chairperson at this year’s 2008 BioNetwork East Conference to be held March 17-19, 2008 in Naples, Florida.

Dr. Gross will be speaking about Open Innovation and its importance to the pharmaceutical industry.

About UTEK Corporation

UTEK® is a leading Open Innovation service company. UTEK’s services enable clients to become stronger innovators, rapidly source externally developed technologies and create value from their intellectual property. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.

Forward-Looking Statements

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an Open Innovation services company, is pleased to disclose that it assisted Artilium plc (LSE-AIM:ARTA), a European leader in advanced telecommunications software, with its recently announced acquisition of Trisent Communications Limited, a specialist in Location-Based Services. This acquisition has provided Artilium with Trisent’s technology which enables mobile network operators to deliver services to subscribing customers based on the geographic location of their mobile phones.

Trisent’s Tri-Cell Intelligent Location System, offers real-time tracking service like GPS, but does not use satellites or require equipment to be installed on the network. The technology works by using standard phone handsets and offers several advantages over GPS, including significant cost savings, lower battery requirements, increased indoor coverage (an advantage for social networking) and ‘always on’ status.

UTEK hosts a live conference call on Wednesday, March 5, 2008 at 10:00 a.m. EST to discuss its 2007 results.

About UTEK Corporation

UTEK® is an open innovation company focused on technology transfer. UTEK's services enable companies to acquire externally developed technologies from universities and research laboratories worldwide. In addition, UTEK provides services to help companies create value from their intellectual property. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK) today announced financial results for the three months and fiscal year ended December 31, 2007.

Year Ended 2007 Financial Results

For the year ended December 31, 2007, income from operations (revenue) was $20.3 million as compared to $57.0 million for the year ended December 31, 2006. Net income from operations for the year ended December 31, 2007 was $3.8 million, as compared to $19.9 million for the year ended December 31, 2006. Approximately 84% and 94% of our income from operations (revenue) was received in the form of unregistered shares of common stock for the years ended December 31, 2007 and 2006, respectively.

A Leading Strategic Innovation Consulting Firm

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an Open Innovation services company, has agreed to acquire Strategos, Inc., a leading innovation and strategy consulting firm providing services primarily to Fortune 500 companies.

Founded in 1995, Strategos has offices in Chicago, Lisbon and London. Over the past 13 years, Strategos became a leader in providing strategic growth advisory services, helping its clients outperform their industry peers by building and deploying a sustaining capability to innovate more effectively and efficiently at scale.

Since inception, Strategos has performed services for 25 out of the 30 companies included in the DJIA (Dow Jones Industrial Average). More information on Strategos can be found on its website at www.strategos.com.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an open innovation company focused on technology transfer, and Rim Semiconductor Company (OTCBB:RSMI - News), a company that develops technology for telecommunications service providers to deliver demanding new video and data services with lower network costs, are pleased to announce that Rim Semiconductor has acquired Broadband Distance Systems, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an open innovation company focused on technology transfer, today announced that it has appointed Edward Weisberg as Vice President.

Previously Mr. Weisberg has served as Vice President of E-Commerce at iBasis, Inc., President of BX.COM, Inc. and Senior Partner at Paradigm Management Consulting Group, Inc. Mr. Weisberg received a BA from the University of Pennsylvania and a Master of Science in Management from the Sloan School of Management at MIT.

Technology Contains Wireless Sensors for On-Site Analysis

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an open innovation company focused on technology transfer, and MachineTalker, Inc. (OTCBB:MTKN - News) a company that develops smart security networks, are pleased to announce that MachineTalker® has acquired Micro Wireless Technologies, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.

Micro Wireless Technologies, Inc. contains a worldwide exclusive license to a technology developed by researchers at the University of South Florida (USF). USF scientists have developed a technique which embeds physical and chemical property sensing capabilities within RF transmission systems, thereby taking a direct conversion approach to micro-wireless sensing technology. This environmental sensor has the potential to combine traditional sensor and telemetry capabilities into one function.

UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an open innovation company focused on technology transfer, has agreed to acquire Pharmalicensing, Ltd. through its subsidiary UTEK Europe, Ltd. Pharmalicensing is a leading open innovation service for partnering, licensing and business development within the life science and biopharmaceutical industry.

Based in York, England, Pharmalicensing makes it easy for approximately 200 active clients to post descriptions of technologies that they are seeking to either in-license or out-license to augment their internal R&D and business development programs. The acquisition of Pharmalicensing represents an extension of UTEK’s open innovation services and increases its presence within the life sciences sector.