AspenBio Pharma, Inc. to Hold Investor Update Call on Wednesday, October 19, 2011 at 4:30 p.m. ET

CASTLE ROCK, CO--(Marketwire - October 17, 2011) - AspenBio Pharma, Inc. (NASDAQ: APPY), an emerging in vitro diagnostic company, will host a conference call to report on its progress with AppyScore™, a rule out test designed to aid in managing the large numbers of patients who enter the emergency rooms of hospitals every year complaining of abdominal pain suspicious for appendicitis by helping to identify those who are at low to moderate risk.

The conference call will include an update on the following:

• The status of the ongoing pilot study for AppyScore, including patient recruitment and interim analysis of preliminary outcomes.
• The company’s regulatory interactions, as well as interactions with major thought leaders and experts in appendicitis and medical decision analysis.
• Near term company milestones, anticipated timelines for completion of the pilot study, and plans to advance AppyScore toward commercialization and our previously announced discovery efforts to identify additional biomarkers associated with acute appendicitis.

The conference call will be webcast simultaneously and available for replay via the webcast link provided below and in the investor relations section of the company’s Web site at www.aspenbiopharma.com.

The webcast will include PowerPoint slides that will be played during the presentation. Please go to the webcast page at least a five minutes before the call in order to register your name and access the presentation player. You may visit the player page now to register and receive an email alert 20 minutes prior to the call and automatically add the date to your Outlook calendar.

For participants who wish to participate in the Q&A session following the presentation or access the call via telephone only, please dial the telephone number below at least 5-10 minutes prior to the scheduled start time. An operator will register your name and organization.

Date: Wednesday, October 19, 2011
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Dial-In Number: 1-877-941-4774
International: 1-480-629-9760
Conference ID#: 4481257
Webcast: http://www.talkpoint.com/viewer/starthere.asp?Pres=137275

IMPORTANT: If you are planning to watch the PowerPoint webcast, but want to participate in the telephone Q&A session following management’s presentation, please choose the telephone option when registering for the webcast. The telephone option configures the webcast player to play slides only and mutes the webcast audio to avoid the typically lag time between the phone line and Internet audio streaming.

If you have any difficulty connecting with the conference call, please contact Liolios Group at +1-949-574-3860. Help with the presentation player is also available via the “Help” button at the top of the page.

A telephone and webcast replay of the call will be available after 7:30 p.m. Eastern time and until November 19, 2011.

Toll-free replay number: 1-877-870-5176
International replay number: 1-858-384-5517
Replay pin #: 4481257
Webcast replay: http://www.talkpoint.com/viewer/starthere.asp?Pres=137275

About AspenBio Pharma and AppyScore
AspenBio Pharma, Inc. (NASDAQ: APPY) is an emerging in-vitro diagnostic company focused on obtaining U.S. FDA clearance for its lead product, AppyScore™. AppyScore is a unique, blood-based test under development designed to help physicians manage the millions of patients who enter emergency rooms every year complaining of abdominal pain. A screening test to aid in the rule out of appendicitis based on its sensitivity and negative predictive value, AppyScore could potentially decrease radiation exposure risk arising from the use of CT scans performed in triaging pediatric and adolescent patients with abdominal pain, as well as potentially reduce healthcare costs. The company has a large and unique repository of blood samples that provide valuable data regarding the appendicitis condition and additional protein marker information associated with causes of abdominal pain, providing an important resource for product development. The company also has several reproduction drugs in research and development for use in animals of economic importance.

For more information, visit www.aspenbiopharma.com.

Forward-Looking Statements

This press release includes “forward-looking statements” of AspenBio Pharma, Inc. (“APPY”) as defined by the Securities and Exchange Commission (“SEC”). All statements, other than statements of historical fact, included in this 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 our ability to successfully complete the pre-clinical study and clinical trial activities for AppyScore™ required for FDA submission, obtain FDA clearance, cost effectively manufacture and generate revenues from AppyScore and other new products, execute agreements required to successfully advance the company’s objectives, retain the management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, obtain and enforce intellectual property rights, and realize value of intangible assets. Furthermore, APPY does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the risk factors contained in APPY’s most recent Annual Report on Form 10-K as filed with the SEC.