phylogica advances collaboration

PHYLOGICA ADVANCES COLLABORATION IN MEDIMMUNE ANTIBIOTIC
DISCOVERY PARTNERSHIP

PERTH, AUSTRALIA: November 21, 2011 – Phylogica Ltd (ASX: PYC, XETRA: PH7), a leading Australian peptide drug discovery company, announced today the progression of its collaboration with MedImmune, the worldwide biologics unit of AstraZeneca, to develop novel antibiotics.

Phylogica and MedImmune entered into the collaboration in August 2010 to evaluate Phylogica’s proprietary Phylomer® platform to identify antimicrobial peptides for infectious disease. The joint research programme is on track and Phylogica has recently completed the methods validation and progressed to the final stage of the Research Plan with its Phylomer-based constructs.

Under the terms of the agreement, to date Phylogica has received payments of US$1.5 million and is eligible to receive milestone payments of up to US$98 million, in addition to royalties on potential worldwide sales.

Phylogica’s CEO, Dr Paul Watt, commented on the news: “We are delighted by the progress of our collaboration with MedImmune to discover novel antimicrobial Phylomer peptides. Our partnership is working well and the fact that we have advanced to the final stage of the Research Plan is very encouraging. The versatility of our Phylomer? platform to identify novel drug candidates against therapeutic targets with high unmet medical need is evident from the significant progress we have made with each of our partnerships.

Furthermore, there is significant interest in our platform from other major pharmaceutical companies. We have multiple ongoing deal discussions and we anticipate signing further discovery alliances before the end of 2011.”