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Phosphagenics Reports Superior Pre-clinical Cholesterol Results from APA-01 and Atorvastatin Combination
Date:1/30/2008

the US$35.2 billion market for statin drugs globally.

"In particular there is an unmet need for a more effective treatment for elevated triglycerides and APA-01 has demonstrated efficacy in this area in this preclinical study. We are now assessing the impact of these results before determining our future strategy. However, the insulin, oxycodone and Phospha E(R) clinical programs will remain our priority for this year," Dr. Ogru said.

About Atherosclerosis

Atherosclerosis, or the build-up of fatty deposits (plaques) on interior blood vessel walls, is a progressive process initially involving endothelial dysfunction and accumulation of lipids on the linings of blood vessel. Atherosclerotic lesions develop as a result of inflammatory stimuli, subsequent release of various cytokines, proliferation of smooth muscle cells, synthesis of connective tissue matrix, and accumulation of macrophages and lipids. Atherosclerosis is involved in the development of coronary heart disease, myocardial infarction, and stroke, among other diseases.

About Phosphagenics Limited

Phosphagenics is a Melbourne-based, globally driven biotechnology company focused on the discovery of new and cost effective ways to enhance the bioavailability, activity, safety and delivery of proven pharmaceutical and nutraceutical products.

Phosphagenics' core technology is built around the science and application of phosphorylation, a process where the addition of a phosphate group has been found to enhance the bioavailability, activity and safety of existing pharmaceuticals and nutraceuticals, as well as to assist in the production of drug delivery platforms.

Phosphagenics' shares are listed on the Australian Stock Exchange (POH) and the London Stock Exchange's Alternative Investment Market (PSG). An ADR -- Level 1 program was established in the U.S. with The Bank of New York Mellon (PPGNY) for U.S. investors to trade in Phosphagenics' stock on the 'over-the-
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SOURCE Phosphagenics Limited
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