Press Release Contact Information: Don Belt Managing Partner Allied Growth Strategies Management 571.220.9885 dbelt@agsm.com H. Dean Bunnell CEO, Indigo Biosciences (814) 234-­‐1919 hdbunnell@indigobiosciences.com For Immediate Release: March 15, 2011 Private equity firm continues to expand investment holdings State College, PA – Allied Growth Strategies Management (AGSM) of State College is announcing the expansion of their investment holdings to include Indigo Biosciences, Inc. of State College. AGSM is in the process of raising $3.5 million of capital to be used to grow the business from a sales and marketing perspective. “Indigo Biosciences, Inc. is an excellent example of the innovation and cutting edge technology that is defining our portfolio” said Don Belt, Managing Partner, AGSM. “We are excited to be a part of assisting Dean and the team at INDIGO with advancing their growth and development.” Indigo Biosciences, Inc. – The Nuclear Receptor Company is the leading provider of Nuclear Receptor Assay kits and screening services in the biopharmaceutical industry. Founded in 2005, Indigo Biosciences, Inc. has grown from a small custom screening company for drug discovery and active ingredient determination to selling products in North America, Europe, and Asia through a network of leading distributors worldwide. Nuclear receptors are one class of drug targets which assist in the discovery, development and pre-­‐clinical processes used in the biopharmaceutical industry to bring a new drug to market. Once a receptor or gene associated with a disease is identified, hundreds of thousands to millions of compounds are screened to determine which of those compounds interact with that target. INDIGO’s screening services and Frozen Single-­‐Use Assay products give the user the ability to easily test for potential efficacy and to understand potential risks for toxicity or unwanted side-­‐effects in the development of new biopharmaceutical products. INDIGO’s proprietary cryo-­‐preservation process -­‐ CryoMite™ allows INDIGO to ship assay products all over the world. Markets for INDIGO products include biotech, pharmaceutical, and Contract Research Organizations (CROs) as well as academic and government researchers studying nuclear receptors, with a tertiary markets in the nutritional and chemical industry. INDIGO’s products and services increase the accuracy and decrease the cost, time and risks associated with the development of a new biopharmaceutical products for companies such as Johnson and Johnson, GlaxoSmithKline, etc. “On behalf of the team at INDIGO, I am eager to collaborate with the team at AGSM” said H. Dean Bunnell, CEO of Indigo Biosciences, Inc. “Our cutting edge technology and product support for the biopharmaceutical industry has incredible potential for growth and expansion. “ Find out more about Indigo Biosciences, Inc. – The Nuclear Receptor Company by visiting the website at www.indigobiosciences.com. About Allied Growth Strategies Management: Allied Growth Strategies Management (AGSM) is a private equity firm that seeks investment and support opportunities for small businesses which demonstrate technology, vision, and excellence in their management team. In operation since 2005, AGSM targets equity recapitalizations of small, privately held companies with revenues up to $20 million in the Pittsburgh, New York City, Philadelphia, Baltimore, Washington DC and Central PA region. ####