acrux appoints new ceo

ACRUX APPOINTS NEW CEO

Melbourne, 11 May 2006

Acrux (ASX: ACR) today announced that following the successful completion of Evamist Phase 3 trials, CEO and Managing Director Dr Igor Gonda will leave the Company and will be succeeded as CEO by Dr Richard Treagus. Acrux would like to thank Dr Gonda for all his contributions during his time as CEO.

This change marks the transition of Acrux from clinical development of its unique drug delivery platform to commercialisation of the resulting products. Acrux’s first product is expected to be launched in the US market next year. The appointment of Dr Treagus reflects his integral role in the successful commercial expansion of Sigma’s business activities in Australia and internationally during the last three years. Sigma was an outstanding performer on the Australian Stock Exchange during 2005.

The recent announcements of positive results in the US Phase 3 trial of Acrux’s lead product and the grant of Acrux’s key patent in Europe provide opportunity for expanded commercialisation and licensing of the range of products that are following close behind Evamist™, including the contraceptive spray and treatments for decreased libido, chronic pain and testosterone deficiency in men. Dr Treagus will lead this commercialisation activity.