ASX Company Announcement Termination of Siyi Cooperation Agreement 6 April 2009 The Directors of Sun Biomedical Limited (ASX Code: SBN) advise that the Cooperation Agreement with Shanghai Siyi Biotechnology Co. Ltd (Siyi) has now been formally terminated by Siyi. As previously advised, SBN delivered the 5,000 OraLine units ordered by Siyi for the commencement of the field trials on 23 February 2009. However, these units were returned by Siyi without payment or any explanation for their return. SBN sought clarification from Siyi as to the reasons for the return, its intentions regarding the commencement of the field trials and its continued relationship with SBL under the Cooperation Agreement. Further, the Company, through its Chairman, Mr. Peter King, its Chinese based consultant, Dr Peter Sun and Dr Ming Sun, endeavoured to facilitate a personal meeting between the parties to better understand the issues and challenges between the two entities. Siyi was not receptive to meeting with the Company or any of its representatives and has elected only to communicate through its lawyers. Siyi’s lawyers have now forwarded a letter of termination. This is an extremely disappointing outcome for the Company given the time and resources that it has expended in pursuing this opportunity and its continued commitment to fulfilling its obligations under the Agreement. The Board is continuing discussions with potential strategic partners for the business and will update investors of progress in this matter in mid April. For further information in relation to this announcement or any aspects of SBN’s operations please visit SBN website at www.sunbiomed.com or contact: Jim Hallam Director Mobile: 0414965442 Email: [email protected]
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