InfraRed Imaging Systems, Inc. Awarded $244,479 from IRS Qualified

InfraRed Imaging Systems, Inc. Awarded $244,479 from IRS Qualified
Therapeutic Discovery Program

Columbus, Ohio, November 4, 2010 – InfraRed Imaging Systems, Inc. (INRIS) a producer of
near infrared (nIR) light based medical imaging devices used to visualize sub-dermal structures
such as veins and arteries, announced today that it has received a grant of $244,479 from the
Internal Revenue Service’s Qualified Therapeutic Discovery Program. The grant funds will
reimburse INRIS for a portion of the expenses incurred in developing its first generation device,
the VascularViewer®, in 2009 and 2010.

James Sharpe, CEO of INRIS, commented “We are pleased to have been awarded this grant. It
will help us to complete final modifications to the VascularViewer prior to its commercial launch
in the first half of 2011. These improvements were suggested to us by hospitals who have trialed
our device, including The Mayo Clinic, St. Jude Children’s Research Hospital, Children’s
Hospital of Atlanta and Grady Memorial Hospital in Delaware, Ohio.” Mr. Sharpe added that
“The Vascular Viewer is an exciting product that addresses the needs of the current healthcare
environment by improving patient care while also reducing costs for the hospital.”
Dale Siegel, President and Founder of INRIS added:”We are delighted to have received this
grant. These funds, together with the $812,000 grant we were awarded by the Ohio Third
Frontier program in June of 2010, will allow us to complete preparation of the VascularViewer
and its companion disposable product for full-scale manufacturing and commercial

About InfraRed Imaging Systems, Inc.
Infrared Imaging Systems, Inc. (INRIS) is a medical device company pioneering the use of near
infrared light (nIR) for medical imaging. The company’s first product, the VascularViewer®,
visualizes peripheral arteries and veins in detail and in real-time, enabling doctors and nurses to
more accurately and efficiently insert needles and catheters. There are 1.4 billion vascular access
procedures performed annually in the US, which makes vascular access the most commonly
performed invasive procedure in healthcare. The VascularViewer reduces the pain and
discomfort associated with vascular access by reducing the number of attempts needed to
complete a successful ‘stick’, thereby improving operating efficiency. The VascularViewer is
FDA 510(k) cleared. The underlying technology was developed at Wright-Patterson Air Force
Base, patented by the US Air Force and licensed exclusively to INRIS. INRIS intends to build an
extensive line of imaging products and companion disposables from its nIR based technology
platform that will significantly change the way clinicians perform vascular access and vascular