Phosphagenics Announces Positive Proof of Concept Results from Studies Utilizing Company's Dermal Drug Delivery Technology

Jun 25, 2007, 01:00 ET from Phosphagenics Limited

    MELBOURNE, Australia, June 25 /PRNewswire-FirstCall/ -- Phosphagenics
 Limited (ASX: POH) (AIM: PSG) (ADR/OTC: PPGNY) announced today positive
 results from pre-clinical studies of its TPM-02 dermal drug delivery
 technology formulated with retinoic acid, a leading topical treatment for
 severe acne and an active ingredient used in anti-aging cosmetics.
     The proof of concept studies showed a three-fold increase in the amount
 of retinoic acid delivered into the skin when formulated with TPM-02
 compared to a control formulation. Importantly, there was no retinoic acid
 detected in the bloodstream. TPM-02's ability to deliver an active
 ingredient to the dermis, the active layer of the skin, highlights the
 system's potential use in dermatologic and cosmetic products.
     This study builds upon Phosphagenics' successes in delivering drugs,
 including insulin, through the skin without causing skin irritation, and
 further demonstrates that the TPM-02 technology can be utilized to deliver
 and hold an active ingredient in the skin, which is optimal in achieving
 maximum effectiveness from dermatological and cosmetic products.
     "These proof of concept studies demonstrate the adaptability and
 flexibility of Phosphagenics' delivery technology, and we intend to
 leverage these results in pursuing opportunities in the dermatological and
 cosmetic fields," said Dr. Esra Ogru, Executive Vice President R&D at
 Phosphagenics. "The ability to deliver greater amounts of retinoic acid to
 the skin will produce more effective products for consumers, which is our
 objective in the areas of dermatology and cosmetics."
     In addition to improving the dermal delivery of retinoic acid,
 Phosphagenics sees broader applications for its TPM-02 technology with
 additional pre-clinical studies showing potential in the dermal delivery of
 other compounds, such as coenzyme Q10 (CoQ10) and omega-3 fatty acids.
     About Phosphagenics Limited
     Phosphagenics is a Melbourne-based, globally driven biotechnology
 company focused on the discovery of new and cost effective ways to enhance
 the bioavailability, activity, safety and delivery of proven pharmaceutical
 and nutraceutical products. The Company's core technology is built around
 the science and application of phosphorylation, a process where the
 addition of a phosphate group has been found to enhance the
 bioavailability, activity and safety of existing pharmaceuticals and
 nutraceuticals, as well as to assist in the production of drug delivery
 platforms. Phosphagenics' shares are listed on the Australian Stock
 Exchange (POH) and the London Stock Exchange's Alternative Investment
 Market (PSG). An ADR -- Level 1 program has been established in the US with
 the Bank of New York (PPGNY) for US investors to trade in Phosphagenics'
 stock on the "over-the-counter" market.
     For more information, please visit Phosphagenics' web site at

SOURCE Phosphagenics Limited