NEWS RELEASE - For Immediate Release

Celsense, Inc. Announces Strategic Alliance with m2m Imaging

May 2, 2008 - Pittsburgh, Pennsylvania

Celsense, Inc. announced today that it has entered into a strategic alliance with m2m Imaging, Corp., a leading developer of next-generation high-definition preclinical and clinical Magnetic Resonance Imaging (MRI) coils and solutions. m2m Imaging offers state-of-the-art products and solutions to the medical imaging community. Their product offerings include MRI coils that optimize the use of the V-Sense and Cell Sense product platforms.

The strategic alliance contemplates the co-marketing of m2m Imaging and Celsense products on a worldwide basis. “We are very excited about our alliance with m2m. m2m offers high quality solutions which complement our efforts at Celsense,” said Charlie O’Hanlon, President and CEO of Celsense.

About m2m Imaging Corp. – With offices in the USA and Australia, m2m Imaging produces high-definition imaging and work flow solutions for life science applications in the MRI, PET, CT and SPECT analytical, preclinical and clinical research environments. m2m’s MRI coil and accessory portfolio consists of products that have provided solutions to enable otherwise unobtainable results for research applications all over the world. More information is available at www.m2mimaging.com.

About Celsense, Inc. – Celsense offers products that enable the real-time in vivo detection of inflammation and transplanted cells for therapeutic and diagnostic purposes, using MRI.  The mission of the company is to be the standard for cellular imaging in human health.

Celsense Contact Information:

Charlie O’Hanlon, President and CEO
Celsense, Inc.
(412) 263-2870


m2m Imaging Contact Information:

Cameron Barnard, Marketing and Business Development Manager
(862) 368-3524