Advanced Technology Acquisition Corp. is a blank check company that was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination with a technology or technology-related business that has operations or facilities located in Israel, or that intends to establish operations or facilities in Israel, such as research and development, manufacturing or executive offices, following its initial business combination. On December 19, 2008, the Company entered into a letter of intent with Bioness Inc., a Delaware corporation (Bioness), which provides for a business combination between Bioness (or an entity controlled by Bioness) and the Company by means of a merger.