AspenBio Pharma, Inc. Invited To Present At Roth Capital Partners’ Annual Growth Stock Conference

CASTLE ROCK, Colo., Jan. 23 /PRNewswire-FirstCall/ -- AspenBio Pharma, Inc. announced that it has been invited as a presenting company at the Roth Capital Partners’ 18th Annual Growth Stock Conference, February 20-22, 2006 in Dana Point, CA. The conference features presentations from over 250 small-cap companies selected across a spectrum of sectors, including technology, bio-pharmaceutical, healthcare, and consumer products.

“We are very pleased to start 2006 off with an invitation to present at this well respected and widely attended capital conference,” said Richard Donnelly, President and CEO of Aspen. “This is an ideal setting to tell Aspen’s story of the significant progress being made on our pipeline of animal healthcare products.”

Roth Capital Partners, LLC (“Roth”) has been a leader and innovator in the small and micro cap markets since 1984. Roth provides the full spectrum of investment banking services, including raising capital, research coverage, creating liquidity, trading and market making, merger and acquisition advisory services, sales support, and investor conferences, to its customers. For additional information visit Roth’s web site at: www.rothcp.com.

About AspenBio Pharma, Inc.

AspenBio Pharma, Inc., is an emerging bio-pharmaceutical company dedicated to the discovery, development, manufacture and marketing of novel patented products that both enhance the reproductive efficiency of animals and have large worldwide market potential. The company was founded to produce purified proteins for diagnostic applications and is now a leading supplier of human hormones to many of the nation’s largest medical diagnostic companies and research institutions. The company has successfully leveraged this science and technology expertise in reproduction hormones to rapidly develop an enviable late-stage pipeline of 4 novel reproduction analogs for wide-ranging therapeutic use in bovine and equine species. The company has also created an early pregnancy status diagnostic for dairy cows which is currently in late- stage development (www.aspenbioinc.com).

This news release includes “forward looking statements” of AspenBio Pharma, Inc. (“APNB”) 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 APNB 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 APNB 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 APNB. 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 development of new products, obtaining additional funding, adverse changes in market conditions, fluctuations in sales volumes, and problems in collecting receivables. Furthermore, APNB 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 APNB’s recent filings with the SEC.

Contacts - For more information contact: AspenBio Pharma, Inc. - Richard Donnelly, CEO 303/794-2000 Investor Relations - Liolios Group, Inc. Scott Liolios or Ron Both 949-574-3860

AspenBio Pharma, Inc.

CONTACT: Richard Donnelly, CEO of AspenBio Pharma, Inc., +1-303-794- 2000;or Investor Relations, Scott Liolios or Ron Both of Liolios Group, Inc.,+1-949-574-3860, for AspenBio Pharma, Inc.

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