UTEK Corporation Appoints Paul Teta as Director of Global Technology Licensing and Commercialization

UTEK Corporation (NYSE Alternext:UTK) (LSE-AIM:UTK), an innovation services company, today announced that it has appointed Paul Francis Teta as Director of Global Technology Licensing and Commercialization.

In his new role Mr. Teta will assist UTEK’s Global Technology Licensing clients in finding and acquiring new technologies. In addition, he will direct the Company’s intellectual property value enhancement activities. Mr. Teta’s assistance to UTEK’s clients will include assessment of their IP portfolios to develop strategies to enhance their value.

Mr. Teta is an experienced intellectual property practitioner. His expertise lies in helping clients create an effective intellectual property protection and value enhancement strategy. Prior to joining UTEK Mr. Teta served more than twenty years with BP (and its predecessor Amoco). In his most recent positions at BP, he was the Manager of Intellectual Asset Management and of Intellectual Capital Management. Prior to that, he was the Chief Operating Officer of BP’s IT technology incubator.

Mr. Teta holds a Juris Doctorate and a Master of Law degree in Intellectual Property from DePaul University, and is a licensed attorney in Illinois. Mr. Teta also holds a Bachelor and a Master of Science degree in Textile Technology from Texas Tech University and the Institute of Textile Technology, respectively.

His affiliations include the Licensing Executives Society, the American Intellectual Property Law Association, the Institute of Law and Technology, Omicron Delta Kappa, the American Bar Association, and the Illinois Bar Association.

“We are very pleased to appoint Mr. Teta to the position of Director of Global Technology Licensing and Commercialization. We are confident he will bring a great deal of leadership, knowledge, and practice experience to our technology licensing team, which has completed more than 100 licensing transactions,” commented Bill Cawley, Sr. Vice President of UTEK.

About UTEK Corporation

UTEK® is a leading innovation services company. UTEK enables clients to become stronger innovators, rapidly source externally developed technologies, create value from their intellectual property and gain foresight into marketplace and technology developments that affect their business. UTEK is a business development company. For more information about UTEK, please visit its website at www.utekcorp.com.

Forward-Looking Statements

Certain matters discussed in this press release are “forward-looking statements.” These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK “expects,” “should,” “believes,” “anticipates” or words of similar import. Similarly, statements that describe UTEK’s future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK and the valuation of UTEK’s investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it cannot give any assurance that its expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and UTEK does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

UTEK’s operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized and realized gains and losses of companies in its portfolio, UTEK’s dependence on the performance of its operating divisions as well as the companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, marketplace demand for innovation consulting services as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK’s future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK’s filings with the Securities and Exchange Commission.

Contacts

For UTEK Corporation
USA:
Allen & Caron, Inc.
Brian Kennedy, 212-691-8087
brian {at} allencaron(.)com