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Progen Shareholders Call Meeting to Spill Progen Board and Offer Merger or Full Cash Back to Shareholders
Date:1/28/2009

ralian biotech space. The proposal can restore the company to one of Australia's leading cancer drug developers through a merger with Cytopia. The calling of this meeting is a serious turning point for Progen."

Cytopia will provide further commentary once Progen has responded to the requisition notice.

    Enquiries:
    Mr. Andrew Macdonald
    Chief Executive Officer
    T: +61 3 9208 4232
    andrew.macdonald@cytopia.com.au

    Mr. Rudi Michelson
    Monsoon Communications
    T: +61 3 9620 3333
    rudim@monsoon.com.au

About Cytopia

Cytopia Ltd is an Australian biotechnology company focused on the discovery and development of new drugs to treat cancer and other diseases. Cytopia conducts its research and drug development through subsidiaries based in Melbourne, Australia and San Francisco, USA and specializes in developing new small molecule compounds with an improved therapeutic profile for the treatment of cancer.

The company's lead drug candidate is CYT997, a vascular disrupting agent (VDA) for the treatment of various cancers, which is currently being trialed in Phase I and Phase II clinical studies. Cytopia is continuing to build on its range of JAK inhibitors and kinase expertise, with CYT387, a novel oral JAK2 inhibitor focused on the treatment of myeloproliferative disorders, expected to enter Phase I clinical studies in early 2009.

Website: www.cytopia.com.au

Director Candidate Biographies

Mr. Robert J Collins

Mr. Robert Collins has over 30 years experience in senior positions of both listed and unlisted companies in Australia and overseas. He was the Managing Director of the ASX listed company Candle Australia Limited from 2001 to 2007 and was also on the Bo
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SOURCE Cytopia Ltd
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