Binding Site Financial Results

Continued Strong Growth, 35% Rise in Freelite Sales

BIRMINGHAM, England, June 9, 2010 - The Binding Site Group, a specialist medical diagnostics group
developing, manufacturing and distributing diagnostic tests for a range of
cancers and immune disorders, today announced its results for 2008 to 2009.
The privately-owned UK-based business, whose products are used by clinicians
and laboratories worldwide, reported a 21% underlying growth in sales
including a strong 35% increase in sales of its innovative Freelite(TM) test.

Key Highlights

                 12 months ended  12 months ended    Increase      Underlying
                   30 Sept 2009     30 Sept 2008                    Increase

    Revenue          GBP34.8m          GBP24.3m         43%              21%

    Freelite(TM)
    sales            GBP20.4m          GBP12.6m         62%              35%

    EBITDA            GBP9.2m           GBP4.3m        114%              62%

    - Underlying sales growth of 21%

    - 35% growth in Freelite(TM) sales

    - 21% growth in North American sales

    - Continued revenue and margin growth driven by product
      development, marketing investment and operational controls

    - Disposal of the group's autoimmune business

    - Major advances in long-term research projects

CEO Paul Duncan commented, "Once again a highly successful
year for the group. With our focus now firmly on the antibody side of the
business we have been able to position ourselves exactly where we need to be
to take advantage of the significant opportunities we see in our marketplace.
With a strong pipeline of products and applications coming through in the
next year and a continuing appetite for investment in growth we look forward
to 2010 being yet another strong year for us."

Binding Site is committed to developing and providing innovative tests
which give clinicians and laboratory staff worldwide the tools to
significantly improve the diagnosis and management of patients across a range
of cancers and immune system disorders.

Last year it sold its autoimmune business to allow it to focus on the
high growth/high profitability serum protein business, including
Freelite(TM). The figures reported relate to the serum protein area alone
and highlight the strong underlying performance of the ongoing business.

Demand for healthcare products is increasing and estimates are that
Binding Site's marketplace is growing at around 4% pa. Against this positive
backdrop, the company achieved sales growth of 21% on the previous year.

The growth comes from two main areas: Freelite(TM), a unique and highly
significant test increasingly used for the diagnosis and monitoring of
Multiple Myeloma and other blood cancers; and the supply of tests for the
detection and management of primary immunodeficiency, illnesses that result
from a defective or missing part of the immune system.

The business's gross profit to sales improved by 44% on the
same period, helped partly by the fall in Sterling as around 90% of sales are
exported but most production costs are in Sterling. Even with the currency
impact removed margins still grew by 24%.

As Binding Site's current financial year continues, its
revenue and EBITDA (earnings before interest, taxes, depreciation and
amortization) remain positive and prospects for 2009/10 are strong; Sterling
is expected to remain weak and the take up of Freelite(TM) will continue to
drive growth thanks to the investments made in previous years.

In addition, a complementary range of products, Hevylite(TM),
are currently in trials. Provisional results are extremely promising and the
group expects to launch this new range later this year.

Notes to Editors:

Freelite(TM) is a unique diagnostic test used to measure immunoglobulin
free light chains in serum, increased levels of which are associated with
cancers such as Multiple Myeloma. Multiple Myeloma is the second most common
blood cancer after non-Hodgkin's lymphoma.

Freelite(TM) has been used as a sensitive marker for the efficacy of some
newer treatments and has helped clinicians gain a clear understanding of how
new drugs are benefiting their patients; treatment decisions which may have
taken weeks or months can now be made in days thanks to the availability of
sensitive and reliable results using Freelite(TM).

Currently there are approximately 3 million pairs of Freelite(TM) tests
performed annually worldwide with the number of analyses increasing at a rate
of around 40% per year. In 2007 Binding Site introduced its own turbidimetric
bench top analyser, the SPAPLUS which is optimised for running Freelite(TM)
and other high sensitivity tests, allowing access to the test across all
clinical laboratories.

Enquiries: Binding Site, Paul Duncan Tel: +44-121-436-1000; Lime PR, Jo Garner Tel: +44-7717-897991