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Profile:Luna Innovations Incorporated engages in the research, development, and commercialization of technologies in the areas of molecular technology solutions and sensing solutions. It develops sensing solutions to measure, monitor, and control chemical, physical, and biological properties; and polymers, nanomaterials, and reagents for molecular technology solutions. The company offers its products in three divisions: Luna Advanced Systems, Luna nanoWorks, and Luna Technologies. Luna Advanced Systems division develops medical diagnostic instruments; nondestructive industrial testing and homeland security devices; remote and secure wireless asset monitoring systems; flame retardants; and multifunctional protective coating systems. It is also developing blast and ballistic resistant materials; and surface cleaners and pretreatments. The Luna nanoWorks division develops and commercializes carbon nanomaterials, which are molecular structures consisting of carbon atoms in geometric shapes. Its carbon nanomaterials include Trimetasphere nanomaterials; fullerenes, which are carbon spheres; and carbon nanotubes, which are carbon rings. This division is also developing disease-targeting MRI contrast agents. This division supplies nanomaterials to research laboratories. The Luna Technologies division manufactures and markets test and measurement equipment, and integrated sensing solutions. Its products are used for process and control monitoring in telecommunications, manufacturing, power generation and distribution, down-hole oil and gas production, aerospace, and defense applications. The company markets its products in North America, Europe, the Middle East, and Asia. The company was co-founded by Kent A. Murphy and Mark Froggatt in 1990. It was formerly known as FEORC, Inc. and changed its name to F&S Technologies, Inc. in 1998, and then to Luna Innovations Incorporated in 1999. The company is headquartered in Roanoke, Virginia.

http://www.lunainnovations.com/

Luna Wins Ballistic Missile Defense Contracts Totaling $1.6 Million with Missile Defense Agency and Raytheon
Tuesday April 10, 7:30 am ET


ROANOKE, Va., April 10 /PRNewswire-FirstCall/ -- Luna Innovations Incorporated (Nasdaq: LUNA - News) today announces the award of small business innovation research (SBIR) and SBIR enhancement - programs totaling $1.6 million from the Missile Defense Agency (MDA) and Raytheon Missile Systems. Under these multi-year programs Luna will develop low cost common, sensor electronics for use in next-generation exoatmospheric interceptor kill vehicles for ballistic missile defense.


Kill vehicles are designed to intercept incoming ballistic missile warheads outside the earth's atmosphere (exoatmospheric) and destroy them by means of high speed collision, a practice commonly coined as "hit-to-kill."

"The development of antiballistic-missile systems is critical to the defense of our nation and it is Luna's mission to discover and advance innovative technologies that are designed to improve the way things get done," said Kent Murphy, Luna Innovations' Chairman and Chief Executive Officer. "Additionally, Luna's ability to serve the Missile Defense Agency and prime technology integrators working in kill vehicle technology is an important milestone for our Federal Systems group."

Doug Schaefer, Director of Producibility and Manufacturing Technology for MDA commented, "This is a perfect example of how Luna is able to take SBIR programs and fast track them to develop solutions that address real needs. This is in line with Luna's business model of moving applied research through the prototype phase and on to what will eventually become a product, bringing many benefits to the defense community."

"Currently, kill vehicles are expensive to design and manufacture due to the many customized components required for a particular mission to accommodate different sensors and non-standard subsystem interfaces," said Dave Kingma, Director of Federal Systems for Luna Innovations. "Our proposed solution offers common sensor electronics and data communications that consist of adaptive sensor electronics with a standard fiber optic communications interface that could substantially reduce integration and development costs."

The anticipated benefits of Luna's adaptive sensor technology using common fiber optic communications relative to existing technology include:


-- less time to integrate new technology,
-- reduced inventory due to having common components, and
-- improved packaging and performance by reduced weight, electrical
isolation, increased radiation hardness and decreased susceptibility
to electromagnetic interference.

"The Luna team is experienced in designing military modules and systems," said Liz O'Keefe, Deputy Program Manager for Low Cost Kill Vehicles at Raytheon Missile Systems. "The Luna system will enable generic on-board processing."

Luna will participate in MDA's Next-Generation Sensor Producibility (NGSP) Flight Experiment Program to validate this technology.


About Luna Innovations:
Luna Innovations Incorporated develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Our products are used to measure, monitor, protect and improve critical processes in the markets we serve. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia. Additional information can be found at www.lunainnovations.com.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060627/LUNALOGO )


FORWARD LOOKING STATEMENTS
This press release includes information that constitutes "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about whether Luna's proposed solution will substantially reduce integration and development costs and Luna's participation in MDA's NGSP Flight Experiment Program. Actual events or results may differ materially from the expectations expressed in such forward-looking statements as a result of various factors, including risks and uncertainties, many of which are beyond the Company's control. Factors that may affect the future results of Luna Innovations are set forth in its Registration Statement on Form S-1, its quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC"), which are available at the SEC's website at http://www.sec.gov, and at Luna Innovations' website at http://www.lunainnovations.com. The statements made in this press release are based on information available to the company as of the date of this release and Luna Innovations undertakes no obligation to update any of the forward- looking statements herein after the date of this press release.

DISTRIBUTION STATEMENT A.

Approved for public release; distribution is unlimited. Approved for Public Release. 07-MDA-2371(3 APR 07)




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Source: Luna Innovations
Luna Innovations Submits FDA 510(k) Application for EDAC(TM) QUANTIFIER Monitor
Thursday May 3, 9:52 am ET


ROANOKE, Va.--(BUSINESS WIRE)--Luna Innovations (NASDAQ: LUNA - News) announced today that it has submitted its 510(k) application to the U.S. Food and Drug Administration for the EDAC(TM) (Emboli Detection and Classification) QUANTIFIER. This innovative medical device uses quantitative ultrasound technology to non-invasively count and measure gaseous emboli in the extracorporeal blood circuits. FDA clearance would enable Luna Innovations to market and sell the EDAC QUANTIFIER for clinical use in the United States.

The EDAC QUANTIFIER represents a breakthrough in cardiothoracic surgery. The instrument is designed to reliably detect harmful gaseous emboli during open-heart surgery. Gaseous emboli are air bubbles that may enter or are created in the blood circuit during critical and invasive medical procedures such as cardio- pulmonary bypass surgery. The EDAC(TM) QUANTIFIER can provide the surgical team with data on the quantity and volume of gaseous emboli at multiple locations in extracorporeal circuits during a procedure.

David Blaker, Vice President of Medical Products, commented, "The FDA submission represents a significant milestone and growth opportunity for Luna Innovations. Research studies acknowledge the relationship between an increased number of emboli delivered to the brain and an increase in the number of neurological or neurocognitive deficits in patients after surgery. Using innovative and sophisticated technology, coupled with noninvasive monitoring techniques, the EDAC QUANTIFIER exemplifies Luna's commitment to providing medical instruments that will improve the quality of patient care."

In a related announcement, Luna Innovations has hired Brian Murach as its Director of North American Medical Products Sales. Murach has extensive clinical experience as a Certified Physician Assistant and more than 16 years experience in medical equipment sales. He is the former National Sales Manager for Terumo Cardiovascular Systems, and has held the positions of Regional Sales Manager with Spencer Technologies, and National Sales Manager with Neuroscan Medical Systems/DWL Systems.

ABOUT LUNA INNOVATIONS:

Luna Innovations Incorporated develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Our products are used to measure, monitor, protect and improve critical processes in the markets we serve. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia. Additional information can be found at www.lunainnovations.com.

FORWARD LOOKING STATEMENTS

This press release includes information that constitutes "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including but not limited to the statement that FDA clearance would enable the company to market and sell the EDAC QUANTIFIER for clinical use. Statements that describe the Company's business strategy, goals, objectives, prospects, opportunities, plans or intentions are also forward-looking statements. Actual events or results may differ materially from the expectations expressed in such forward-looking statements as a result of various factors, including risks and uncertainties, many of which are beyond the Company's control. Factors that may affect the future results of Luna Innovations are set forth in its Annual Report on Form 10K, its periodic reports on Forms 10-Q and other filings with the Securities and Exchange Commission ("SEC"). These things are available at the SEC's website at http://www.sec.gov and at Luna Innovations' website at http://www.lunainnovations.com. The statements made in this press release are based on information available to the company as of the date of this release and Luna Innovations undertakes no obligation to update any of the forward-looking statements herein after the date of this press release.



Contact:
Luna Innovations Incorporated
Media Contact:
Karin Clark, 1-540-769-8400
kclark@lunainnovations.com
or
Investor Contact:
Qorvis Communications
Sally Beerbower, 1-703-744-7800
ir@lunainnovations.com

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Source: Luna Innovations
AP
Luna Submits Device for Approval
Thursday May 3, 12:39 pm ET
Luna Seeks Government Approval for Device to Help Heart Surgeons


ROANOKE, Va. (AP) -- Imaging equipment maker Luna Innovations Inc. said Thursday it is seeking government approval for a device to help surgeons spot air bubbles that can cause problems during open-heart surgery.
The company's Edac quantifier uses ultrasound technology to measure the number of air bubbles moving through blood vessels during surgery. Air bubbles are often a complication of invasive heart procedures like pulmonary bypass surgery.

Luna submitted the Edac to the Food and Drug Administration under a 510k application, indicating the device is comparable to products already on the market. The agency usually takes three months to review such products.

Shares of Luna Innovations Inc. rose 1 cent to $3 in midday trading.


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