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Leading Australian Biotech CEOs to Showcase Cutting-Edge Science at New York City Conference

Dr. Ian Frazer, Developer of the HPV Vaccine, Will Keynote May 3 Event

SYDNEY, Australia--(BUSINESS WIRE)--Apr 20, 2007 -Executives from nine of Australia's top biotechnology firms will present "what's hot" in biotech Down Under on Thursday, May 3, at the second annual Australian Bio-Investment Forum in New York City. Hosted by Australian investment and brokerage firm Emerging Growth Capital (eG Capital), the conference is being held at the offices of Ernst & Young, Five Times Square.

In addition, Dr. Ian Frazer, a key developer of the vaccine to prevent cervical cancer and 2006 Australian of the Year; Dennis Purcell of Aisling Capital, an early, and continuing investor in biotech; and Fred Welz, Senior Investment Commissioner, Invest Australia will address the audience of investment bankers, analysts, seed investors, venture capitalists and pharmaceutical company representatives.

"Australia has the largest biotechnology presence in the Asia-Pacific region, and has attracted more venture capital than any other country in the area--more than A$630 million in 2006, said Mark Fordree, Managing Director, eG Capital. "We are delighted to introduce some of its premier firms to New York's investment and pharma community at our second investor forum here. Each company has been selected for its investment potential based on development track record, product portfolio, growth strategy and corporate structure."

Participating companies include:

-- Biota (ASX: BTA)--A leader in antiviral drug development, discovered zanamir, marketed today by GSK as Relenza(R), for seasonal and pandemic avian flu.

-- Circadian Technologies (ASX: CIR)--A biotech investment company holding a large stake in Avexa (ASX: AVX), which recently announced successful Phase 2b results for its HIV drug, and in Vegenics, a private company targeting tumor blood vessel growth.

-- Cytopia (ASX: CYT) -Creating drugs to treat cancer and cardiovascular disease, Cytopia is collaborating with Novartis to develop a drug using its JAK 3 inhibitors to prevent transplant rejection.

-- EvoGenix Ltd. (ASX: EGX)--Is using its proprietary antibody platforms to develop antibody therapies for bone loss, respiratory infection and cancer. In collaboration with the National Institute of Health (NIH), they are working to develop antibody therapies against a new cancer target.

-- HeartWare (ASX: HTW)--Developing a family of proprietary, miniature circulatory assist devices to treat patients with heart failure, HeartWare's lead device, the HVAD(TM), with a volume of 45 cc, is progressing through an international clinical trial. HVAD is currently the smallest pump and the only full output device implantable within the thoracic cavity.

-- ImpediMed Ltd. (unlisted, public)--Are developing and marketing bio-impedence devices to accurately measure body composition. Applications include the early detection and monitoring of lymphodema, muscle wasting, weight management, drug dosing and monitoring.

-- OptiScan Imaging Ltd. (ASX: OIL)--With Pentax, has developed a confocal endomicroscope that displays sharp focus and high resolution images that provide such accurate diagnoses for cancer patients that the need for biopsies is significantly decreased.

-- Peptech Ltd. (ASX: PTD, AIM: PTDx)--A drug development company using peptides, focuses on cancer and inflammatory disease. The company receives royalty payments on Abbot's Humira(R) and Centocor's Remicade(R).

-- Progen Ltd. (ASX: PGL, NASDAQ: PGLA)--In just-released Phase 2a results, Progen's lead drug for liver cancer, PI-88, kept the disease at bay longer than standard treatment.

In addition to eG Capital, the New South Wales Department of State & Regional Development and O'Sullivan PLLC are hosts to the participating companies. Conference sponsors are: The American Australian Association, Australian Stock Exchange, Ernst & Young, Invest Australia, and The Trout Group LLC.

For further information, visit the eG Capital website, www.egcapital.com. To register for the conference, e-mail: [email protected], or call Christina Pagano, 212/213-2851.

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