( urestudies with the FDA. We are hopefu...)Alchemia Reports Preliminary Positive Efficacy Data From HyCAMP,Phase II Trial,Health

These results are important not only for the development and approval path for HyCAMP(TM) itself but they provide validation of the technology platform. The HyACT(TM) platform is an extremely flexible formulation technology as it can be used with virtually any intravenously administered anti-cancer treatment. We have successfully completed Phase I clinical studies on HyACT(TM) formulations of two other chemotherapy drugs, doxorubicin and 5- flurouracil. Encouraging preclinical data has also been obtained on a number of other cytotoxics. More recently, we have demonstrated in preclinical studies that HyACT(TM) can also be used to significantly enhance the efficacy of newer targeted antibody therapies such as Avastin(TM) and Erbitux(TM) In the case of generic drugs or drugs close to patent expiry, the HyACT(TM) formulation may provide a means for companies to differentiate their products from other competitors in the market place, and thereby build product value.

HyCAMP(TM) and the proprietary formulation technology, HyACT(TM), were obtained following the successful acquisition of Melbourne based oncology company Meditech Research Limited in 2006. "The Phase II clinical results provide proof of concept for the HyACT(TM) platform. We expect this technology to build substantial value for shareholders, not only with HyCAMP(TM), but with other oncology drugs as well" Dr Ramsdale said.

Before HyCAMP(TM) can be marketed in the US, the drug needs to successfully complete a Phase III study, and receive marketing approval from the US FDA.

Alchemia wishes to acknowledge the commitment and thank the patients who volunteered to participate in this trial, and to acknowledge and thank the investigators, study research personnel and nursing staff at the 10 clinical sites across Australia who looked a
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