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Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
Date:8/19/2007

Company's TPM-02/Insulin Significantly Lowered Blood Glucose without

Producing Any Adverse Reactions Phase 2 Trial Expected to Begin upon Ethics Approval with Results due in Q1

2008

MELBOURNE, Australia, Aug. 8 /PRNewswire-FirstCall/ -- Phosphagenics Limited ("Phosphagenics") (ASX: POH, AIM: PSG, OTCQX: PPGNY) today announced the successful completion of a Phase 1b transdermal insulin trial. The positive results of the trial demonstrated the ability of the Company's TPM technology to deliver insulin into the bloodstream in a non-invasive manner without causing any adverse events. Phosphagenics' TPM-02/Insulin formulation is being developed as a novel "needle-free" way of administering insulin to patients with diabetes.

The Phase 1b clinical trial, conducted at the Royal Adelaide Hospital in South Australia by CMAX, an independent clinical research organization, assessed the efficacy and safety of two TPM/Insulin formulations in 45 volunteers. Blood glucose, endogenous insulin and C-peptide levels were measured to assess efficacy.

Dr. Esra Ogru, Executive Vice President of Research and Development at Phosphagenics, said: "The Phase 1b trial showed that our TPM/Insulin formulation safely penetrated through the human skin and delivered insulin into the bloodstream over a sustained period of time, without causing adverse reactions."

"We believe that these results are indicative of Phosphagenics' potential to provide the millions of insulin-dependent diabetics with a non-intrusive alternative to multiple needle injections each day," said Dr. Ogru.

Phosphagenics intends to continue clinical development of its transdermal insulin. Preparations are underway for a Phase 2 trial to be conducted by CMAX at the Royal Adelaide Hospital under the guidance and supervision of Associate Professor William Hsu of the Joslin Diabetes Centre (Harvard Medical School) and Dr. Sepehr Shakib
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SOURCE Phosphagenics Limited

Copyright©2007 PR Newswire.

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