Phosphagenics Limited signs Development Agreement with ALZA Corporation

Biotechnology company Phosphagenics Limited ("Phosphagenics") (ASX Code: POH; AIM Code: PSG) today announced it has entered into a development agreement with ALZA Corporation (ALZA).

ALZA is a leading drug delivery company with a broad range of technology platforms. Under the terms of the agreement, ALZA will fund tests to determine the feasibility of delivering a number of compounds nominated by ALZA using Phosphagenics’ patented transdermal delivery system, TPM-01.

Dr Esra Ogru, Executive Director of Research & Development for Phosphagenics, said, "Phosphagenics’ transdermal technology is globally-competitive and uniquely safe and effective, and has the potential to be applied to an extraordinarily broad range of drugs.

"Our technology has previously been tested on a number of drugs, and has successfully delivered insulin, parathyroid hormone, fentanyl, morphine, estradiol, testosterone and atropine across animal skin," added Dr Ogru.

Phosphagenics’ transdermal technology, TPM-01, is a non-invasive, patient- friendly gel applied to the skin. In April this year, TPM-01 was shown to be effective in delivering morphine into the bloodstream through human skin in a "proof of concept" Phase I clinical trial. Phase I trials on the transdermal delivery of insulin with TPM-01 are planned to start in the first quarter of 2006.

For further information, please contact Dr Esra Ogru, Phosphagenics Limited on +61 3 9605 5900 or 0402 080 846.