BOSTON–(BUSINESS WIRE)–Allied Minds (LSE: ALM), an innovative U.S. science and technology
development and commercialization company, today announced that Joseph
Pignato is joining its executive management team as Chief Financial
Officer.

Joe’s experience as a senior advisor to fast-growing businesses spans
almost two decades. After gaining experience in accounting at PKF
Worldwide and Deloitte, Joe developed expertise in the effective
deployment of venture capital for early stage companies during his
tenure as CFO of Charles River Ventures; as General Partner, Chief
Operating Officer and CFO of Prism Ventures; and as a Board Member of
the Slater Technology Fund. Joe also applied his own skills in value
creation while serving as Director of Finance at Lightbridge, a
NASDAQ-listed firm that he helped to take public; and as CFO at Swipely,
which grew to more than $4 billion in sales under management during his
tenure.

“It’s a privilege to join Allied Minds, a company that brings together a
unique mix of entrepreneurial talent and seasoned, global expertise,”
said Joe. “Allied Minds’ dynamic and fast-moving environment is
exciting, and I look forward to working with the team to help develop
and support new companies in their innovative, and potentially
market-disruptive, work.”

Joe’s broad strengths in finance, investor relations and operations, as
well as his skills as a mentor to management teams, will be an asset to
Allied Minds and its 22 subsidiary companies. At Allied Minds, Joe is
joining an expanding team of experienced senior managers who are engaged
in advising the portfolio companies on how to navigate high-growth
strategies as they commercialize sophisticated technologies developed at
U.S. federal and academic research centers.

“Joe brings a robust track record of managing and fostering early stage
companies into financial stability and growth,” said Chris Silva, Chief
Executive Officer of Allied Minds. “I am confident that he will further
enhance our ability to transform U.S. inventions into commercial
innovation. We are delighted to have him on board the Allied Minds team.”

More information about Allied Minds can be found at www.alliedminds.com.

About Allied Minds, Inc.

Allied Minds is an innovative U.S. science and technology development
and commercialization company. Operating since 2006, Allied Minds forms,
funds, manages and builds products and businesses based on innovative
technologies developed at leading U.S. universities and federal research
institutions. Allied Minds serves as a diversified holding company that
supports its businesses and product development with capital, central
management and shared services. More information about the Boston-based
company can be found at www.alliedminds.com.

Allied Minds Forward-Looking Statement

This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company’s future prospects, developments and strategies. The
forward-looking statements are based on current expectations and are
subject to known and unknown risks and uncertainties that could cause
actual results, performance and achievements to differ materially from
current expectations, including, but not limited to, those risk and
uncertainties described in the risk factors included in the company’s
regulatory filings. These forward-looking statements are based on
assumptions regarding the present and future business strategies of the
company and the environment in which it will operate in the future. Each
forward-looking statement speaks only as at the date of this press
release. Except as required by law, regulatory requirement, the
Prospectus Rules, the Listing Rules and the Disclosure and Transparency
Rules, neither the company nor any other party intends to update or
revise these forward-looking statements, whether as a result of new
information, future events or otherwise.