AspenBio Pharma, Inc. AppyScore(TM) Diagnostic Blood Marker Presented at 2009 Annual Meeting of Society for Academic Emergency Medicine

CASTLE ROCK, CO--(Marketwire - May 18, 2009) - AspenBio Pharma, Inc. (NASDAQ: APPY), an emerging bio-science company dedicated to the development of novel diagnostics and drugs for humans and animals, announced that Dr. John F. Bealer, presented a paper titled, 'S100A8/A9: A Sensitive Diagnostic Blood Marker for Acute Appendicitis,' at the Society for Academic Emergency Medicine's 2009 Annual Meeting.

"This presentation of our study data at this prestigious gathering of the nation's top emergency medical professionals is a milestone event for AspenBio," said Dr. Robert Caspari, COO and CMO of AspenBio, "and it is the first such presentation of its kind to the medical community. We believe AppyScore's successful advancement and commercialization can lead to extensive positive changes in emergency medicine for the diagnosis of appendicitis."

The paper demonstrated the significant sensitivity of the blood marker which underlies AppyScore's patented diagnostic technology, as expressed in the results of the company's 2008 pilot study. The test incorporates a patented assay that detects a marker in the blood associated with the inflammation seen with appendicitis, and is anticipated to be the first and only such test available in the world focused on this condition. It addresses the need for an objective, quantitative, rapid, safe, and economical diagnostic test for human appendicitis.

Following the analysis of AppyScore pivotal FDA clinic trial completed earlier this year, AspenBio is advancing AppyScore towards Food and Drug Administration ("FDA") application and clearance process, and plans to file a 510(k) application with the FDA by the end of the second quarter of 2009.

In both preliminary clinical trials and a formal FDA clinical trial, AspenBio has tested its assay in over a thousand patients and has consistently shown the AppyScore blood test, when used in conjunction with other commonly used medical modalities, was able to aid in the diagnosis of appendicitis at a sensitivity and negative predictive value greater than 90%. AppyScore also has the potential to significantly reduce the time required to diagnose appendicitis cases due to the speed of the AppyScore test results, as well as potentially reducing the number of costly abdominal CT scans and the associated exposure to harmful radiation.

About Society for Academic Emergency Medicine

The Society for Academic Emergency Medicine (SAEM) was formed in 1989 and is dedicated to the improvement of care of the acutely ill and injured patient by improving research and education. To achieve this mission, SAEM influences health policy through forums, publications, inter-organizational collaboration, policy development, and consultation services for physicians, teachers, researchers, and students. SAEM represents excellence and leadership in academic emergency medicine and its values include idealism and quality in all endeavors, nurturing and camaraderie and diversity among members, as well as creative and symbiotic interactions with other organizations. The SAEM Annual Meeting in May is the largest forum for the presentation of original research in emergency medicine and attracts approximately 1,700 attendees. For more information about SAEM and the annual meeting, go to www.saem.org.

About AspenBio Pharma, Inc.

AspenBio Pharma, Inc. is dedicated to the discovery, development and marketing of novel patented diagnostics to aid physicians in making more accurate medical decisions. Additionally, a cornerstone of our business has also been developing innovative therapeutics to enhance animal reproduction. All product development is focused on large worldwide markets that target previously unmet clinical needs. For more information, go to www.aspenbiopharma.com.

Forward-Looking Statements

This news release includes "forward-looking statements" of AspenBio Pharma, Inc. ("APPY") as defined by the Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that APPY believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors APPY believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of APPY. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including statements regarding the ability to successfully complete the clinical trial data assessments required for FDA submission, obtain FDA approval for, cost effectively manufacture and generate revenues from the appendicitis test as well as the animal products and other new products, execute agreements required to successfully advance the company's objectives, retain the scientific management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, fluctuations in sales volumes, obtain and enforce intellectual property rights, and realization of intangible assets. Furthermore, APPY does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this news release should be considered in conjunction with the warnings and cautionary statements contained in APPY's recent filings with the SEC.