Phosphagenics Lists on the International OTCQX Market in the U.S.

Jul 09, 2007, 01:00 ET from Phosphagenics Limited

    MELBOURNE, Australia, July 9 /PRNewswire-FirstCall/ -- Phosphagenics
 Limited (ASX: POH; AIM: PSG; OTCQX: PPGNY) today announced that its Level 1
 American Depository Receipts (ADR) will begin trading at market open today
 on the International OTCQX, a new premium market tier in the U.S. for
 international exchange-listed companies, operated by Pink Sheets, LLC.
     Launched in March 2007, the International OTCQX provides a gateway to
 the U.S. securities markets for international companies that are listed on
 a qualified international exchange and provide ongoing disclosure to U.S.
 investors. International OTCQX is designed to distinguish reputable
 international issuers from the thousands of over-the-counter (OTC)
 securities traded in the U.S. through a strict focus on companies with
 solid operating businesses that provide credible disclosure to investors.
     "Upgrading to the OTCQX market enhances our U.S. investor visibility
 and improves our access to the most liquid market in the world," said Harry
 Rosen, President and CEO of Phosphagenics. "Offering our securities on the
 OTCQX market significantly enhances our U.S. focus, and complements our
 recently established U.S. corporate presence and investor relations
 program, as well as our U.S. business development activities."
     Jane Street Markets acts as a market maker for Phosphagenics' ADRs,
 which are deposited with The Bank of New York Mellon, the Company's
 Principal American Liaison (PAL).
     About OTCQX
     OTCQX is a new market tier organized by Pink Sheets, LLC, which sets
 apart a select group of issuers as worthy of consideration by US investors.
 Qualified issuers use the efficient and robust OTCQX listing process to
 provide credibility and visibility of disclosure to investors. OTCQX is
 designed to meet the needs of small to medium sized, publicly-traded U.S.
 companies and non-U.S. companies listed on qualified international stock
     For more information, please visit
     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). In March 2006, an ADR - Level 1 program was established in
 the US with The Bank of New York Mellon (PPGNY) for US investors to trade
 in Phosphagenics' stock on the 'over-the-counter' market. This has now been
 upgraded to the International OTCQX, a new premium market tier in the US
 for international exchange-listed companies, operated by Pink Sheets, LLC.
     For more information, please visit Phosphagenics' web site at

SOURCE Phosphagenics Limited