finally: action taken.

14 March 2007
ASX-MEDIA ANNOUNCEMENT
Peptech appoints global financial adviser to examine strategic options
Australian biotechnology company, Peptech Limited - ASX: PTD; AIM: PTD - today announced the appointment of Citigroup Corporate and Investment
Banking to advise the company on a broad range of strategic investment
opportunities designed to unlock the inherent value in its business.
Peptech advised shareholders at its Annual General Meeting earlier this year that
it had received unsolicited approaches from private equity firms, and was in
varying stages of discussions with a number of global and industry specialist
firms.
Peptech Chairman Mel Bridges said Citigroups global and local expertise would
enable the company to explore all opportunities aimed at achieving a value for
Peptech that more accurately reflected its achievements, assets and position in
the global biotechnology industry. Building the relationship with Citigroup allows
us access to their expertise in both local and international markets, he added.
-Citigroup brings a wealth of experience in a range of relevant disciplines to
Peptech, including leading advice in M&A activity, global and domestic industry
knowledge and independent advice,- Mr Bridges said.
-Through its detailed understanding of Peptech’s business, Citigroup will advise
on a range of corporate and strategic approaches to capitalise on the value of the
company’s well balanced and diversified asset base including the company’s
strong cash position of A$186 million, and to maximise its current position to
deliver enhanced shareholder value.-
Peptech Chief Executive Officer Dr John Chiplin said the interest shown by the
industry’s leading private equity companies and since the AGM other
biotechnology companies, highlights the international recognition Peptech has
received as a next generation biologics company.
-However despite this strong international interest and regardless of the outcome
of the current discussions, Peptech remains focused on delivering a sustainable,
internationally competitive, therapeutic antibody company with a rich pipeline of
attractive drug targets,- Dr Chiplin said.
-While the company is exploring all options to deliver enhanced shareholder
value, the company is firmly committed to building and enhancing its valuable
product pipeline, which includes staying on track to move our new generation
anti-inflammatory drug PN0621 into the clinic in the coming months, -Dr Chiplin
said.
ENDS
Further information:
Dr John Chiplin
Chief Executive Officer
Peptech Limited
Tel: 61 2 9870 8788
Released by:
Ms Jodie Leckenby
Consultant
Phillips Group
Tel: 07 3230 5000
Mobile: 0403 783 932
About Peptech:
Peptech Limited focuses on the research and development of peptides and
proteins in the areas of human pharmaceuticals and animal health. The company
is positioned to become a globally recognised leader in biopharmaceutical
development.
For further information: www.peptech.com