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Biopharmaceutical Company Xenome Ltd Today Announced The Appointment Of Michael Aldridge As Executive Director

5/25/2010 1:38:25 PM

Brisbane, Australia. 25 May 2010: Xenome Limited (“Xenome”) today announced the appointment of Michael Aldridge as Executive Director.

Mr Aldridge brings to Xenome an extensive background in the global biotechnology and pharmaceutical industries having held leadership, strategic, consulting and financing roles in North American, European and Australian companies.

As CEO, Board Director and Consultant with Peplin, Inc. from 2003 – 2009, Michael led the growth of a global, dermatology focused, product company developing a new approach to the treatment of skin cancer. Peplin was sold to LEO Pharma A/S, a European dermatology company, for US$287.5 million in cash in September 2009.

?Xenome Chairman of the Board Jim Hazel stated, "We are delighted to have recruited Michael Aldridge to join Xenome. The Company is in the process of initiating a Xen2174 phase II study in post-operative pain. Michael's skills and experience make him the ideal person to lead Xenome in its next stage of development."

“The Board is confident that Michael, with his significant experience in the biotechnology business, his knowledge of domestic and international markets and his extensive network of international relationships will lead Xenome successfully through the next phase. We are excited about Xenome’s future under his leadership."

Mr Aldridge is based in the San Francisco Bay Area and will assume the Executive Director position immediately.

About Xenome:

Xenome is a biotechnology company focused on the discovery and development of peptide-based therapeutics. Utilising its expertise in peptide chemistry and its novel technology platform, Xenome translates the evolutionary advantages inherent in venom peptides into new drug candidates.

The Company's lead product, Xen2174, is a novel conopeptide analogue for the treatment of moderate to severe pain. Xen2174 is a non-competitive inhibitor of norepinephrine transporter (NET), a validated target for the management of pain. In an international phase I/II clinical trial in cancer patients, a single intrathecal administration of Xen2174 was found to be safe and well tolerated across a broad dose range. In addition, the study provided evidence for an analgesic effect that had a rapid onset of action and was long lasting.

Xenome's discovery platform is based on proprietary libraries of venom peptides, analogues and mimetics. Research licence agreements are in place with Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) and MedImmune LLC (the biologics unit of AstraZeneca), each of which has access to Xenome’s xdiscoverTM library for specific indications or targets.

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