Peptech Announces Director Retirements

Monday, 27 August 2007, 5:15 pm
Press Release: Peptech Ltd

Peptech Limited (ASX:PTD, AIM: PTDx) today announced as part of its merger agreement with EvoGenix that Martin Kriewaldt and Till Medinger will retire as directors of the company, effective 28 August 2007.

Mel Bridges, Chairman of Peptech thanked both directors for the services provided to the company, commenting:

"Till has been a director of the company since 1997. He has been a consistent contributor at board level, with his international industry knowledge being particularly valuable. As Peptech's alternate director on the Domantis board, Till was instrumental in Peptech's continuing participation in Domantis and the very successful realisation of that investment.

"Since joining the Peptech Board in October 2003, Martin's litigation experience has been particularly invaluable in the disputes Peptech had with Centocor and Abbott. More recently he has used his skills in guiding Peptech through its merger and acquisition activity, spending considerable time on due diligence activities. "On behalf of the entire Peptech board I sincerely thank both these directors for their commitment to Peptech," he added.

Effective from 28 August 2007, Chris Harris and Robin Beaumont, formerly directors of EvoGenix Limited, will join the Peptech Board.

About Peptech:

Peptech Limited is a biotechnology company dedicated to developing and providing antibody and peptide-based human therapeutic products for the treatment of cancer and inflammatory diseases.

The Company has tapped its unique antibody technologies and revenues generated from its pioneering anti-TNF patents to build a range of therapeutic assets to address large and clinically validated markets.

Peptech is transitioning to a mid-stage development company as several products move from pre-clinical stages into human trials, starting with the Company's lead compound, PN0621, a differentiated anti-TNF domain antibody construct.

ENDS

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