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Vista Partners Initiates Coverage on Arana Therapeutics (ASX: AAH; AIM: AAHx)
Date:3/18/2008

LOS ANGELES, March 18 /PRNewswire/ -- Vista Partners announced today that it has initiated coverage on leading Australian biotechnology company Arana Therapeutics, (ASX: AAH; AIM: AAHx). "Cash on hand and royalty revenue alone are equal to roughly US$0.94 in share value. Add to that our US$0.43 probability weighted, DCF value for ART621 and you have a premium of nearly 70% to the current market price. This comes without assigning any value to their current pre-clinical pipeline which we feel has great potential," said Ross Silver, Director of Research for Vista Partners. For more information and to download the free report, please visit the Vista Partners website at http://www.vistap.com.

About Vista Partners:

Vista Partners provides independent, equity research to institutional and individual investors, with a focus on publicly traded small capitalization companies. With offices in Los Angeles and San Francisco, Vista Partners is one of the fastest growing independently owned equity research firms. Vista Partners professional staff has backgrounds in finance, corporate communications and investment banking. More information is available at http://www.vistap.com.

About Arana Therapeutics:

Arana Therapeutics (ASX: AAH; AIM: AAHx) is an international biopharmaceutical company formed through the merger of Peptech and EvoGenix in August 2007. The company uses superior technology to develop next generation drugs that will improve the lives of patients with inflammatory diseases and cancer. Arana Therapeutics' innovative engineering technologies provide the basis for clinical development in the antibody space, a market which draws on high demand. Arana Therapeutics has the financial stability and management expertise to accelerate its clinical programs, and is on track to have at least 3 clinical stage assets within three years. Arana is l
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