99.2

(BW)(NJ-MEDISCIENCE)(MDSC) Infotonics/Mediscience Announce Funding
and Development Agreement

    Business Editors/Health/Medical Writers/Biotech Writers

CHERRY  HILL,  N.J.--(BUSINESS  WIRE)--Oct.  10,  2006--Mediscience   Technology
Corp.(MTC)  (OTC:MDSC)  has agreed to provide  $10,000 per month of seed funding
beginning  October 2, 2006, for a period of up to five months, to equity partner
Infotonics  Technology  Center,  Inc. of Rochester New York to accelerate  joint
progress  towards  commercialization  of (MTC)  Optical  Biopsy  Pill  through a
"Newco" (NYS)  subsidiary of (MTC) . Infotonics will use this initial Funding to
hire and assign a full-time  Commercialization  Program Manage (CTO) to continue
and  accelerate  Infotonics'  efforts  on  behalf  on (MTC) to  achieve  product
commercialization success.

(MTC) has additionally contracted commercialization responsibility and oversight
of its photonics technology IP platform to Infotonics who will develop the (MTC)
Optical Fluorescence IP platform via two initial advanced medical products,  the
Optical Biopsy Pill (OBP) and the CD Ratiometer (CDR).

The parties expect that within this five months period,  funding from a (NYSTAR)
grant  award of  $750,000  applied  for by Info  tonics  plus,  on  satisfactory
completion of (MTC) due diligence, the receipt by "Newco" of an initial $2-3M of
bridge funding from Empire  Financial  Group Inc NY, should become  available to
continue the commercialization program.

(MTC) CEO Peter  Katevatis  Esq.  says,  "The  relationship  with equity partner
Infotonics is synergistic and strategic,  leveraging Infotonics  Nano-Technology
and  Micro-System  capabilities  and broad  resources  to provide  (MTC) with an
exceptional state of the art advantage,  over  competitors." (see below Syracuse
May 24, 2006 and CityGroup Oct -1-2004  Reports).  This  agreement  places (MTC)
proprietary  non-invasive  imaging technology for molecular  detection of cancer
and physiological change in the commercialization  stage/track.  We intend, with
Infotonics  assistance,  to use the "Newco" net proceeds of the Empire Financial
Group NY proposed $5 to $10M Firm  commitment  in the form of an Initial  Public
Offering to fund the  commercialization of our Optical Biopsy Pill (OBP) and the
CD Ratiometer (CDR)".

                       EMPIRE FINANCIAL GROUP

Empire Financial is a NASD registered  broker dealer approved to provide a broad
range of securities services to investors and institutions in all 50 states. The
company's home office is located in Longwood, FL.

                                                                               6
<PAGE>

                      Infotonics Technology Center Inc.

Infotonics is a consortium whose founding  participants  include Corning,  Inc.,
Eastman Kodak Company, and Xerox Corporation,  a not-for-profit corporation that
operates New York State's Center of Excellence in Photonics and Microsystems.


    New York State Office of Science, Technology and Academic Research

Key goals are: Spur  economic  development  in New York State  through  academic
research;Coordinate and organize New York's wide array of science and technology
informational  resources  and  provide  our  academic,  business,  and  research
communities access to these resources.

                     About Mediscience Technology Corp.

Mediscience  Technology  Corporation  and subsidiary  "Newco" are engaged in the
design,  development and commercialization of medical devices that detect cancer
and physiological change using frequencies of light that are emitted,  scattered
and absorbed to  distinguish  malignant,  precancerous,  or benign  tissues from
normal  tissues.   Mediscience's  exclusive  protected  non-invasive  technology
combines  the   advantages  of  real-time   results  with  enhanced   diagnostic
sensitivity and specificity compared with other methods of cancer detection.

                                 Investor Notice

Certain of the matters  discussed in this announcement  contain  forward-looking
statements that involve  material risks and  uncertainties  including public and
private financing market conditions and FDA filings and/or approvals,  which are
required before the Camera Pill or the CD Ratiometer can be sold or licensed for
use in the United  States.  This press  release is  intended to comply with Rule
135c promulgated under the Securities Act of 1933. (Submitted in full compliance
with  sections  8-K  1.01  and  2.01  re:  "materiality"  as  applicable  and in
fulfillment of SEC Section 6, 6.01 Regulation (FD) Full Disclosure,  and Section
7 and 7.0 as well  as all  applicable  and  presently  effective  Sarbanes-Oxley
disclosure requirements under Regulation G.

    8-K filing dated October 10, 2006
    8-K filing Syracuse Univ. May 24, 2006 72 Pg Report
    CityGroup/Smith Barney Report 10-1-2004 by Peter Bye. Page 20
    www.Infotonics.org/ResearchProjects/CompactPhotonicExplorers.asp
    www.cunyphotonics.com
    MEDISCIENCETECH.com


    CONTACT: Mediscience Technology Corp.


                                                                               7
<PAGE>

             Peter Katevatis Esq., Chairman/CEO, 215-485-0362
             metpk@aol.com
             or
             Infotonics Technology Center Inc.
             David R. Smith, President, CEO, 585-919-3001
             david.r.smith@infotonics.org








                                                                               8