Proteome Systems Inc. Renamed Proteome Systems Inc.; Completes Transition to Biomarker Discovery and Diagnostic Test Development Company

SYDNEY, Australia--(BUSINESS WIRE)--Proteome Systems Ltd (ASX:PXL - News) (TDX Pending) announced today that shareholders have voted in favour of an official name change to Tyrian Diagnostics Limited. The Company’s ASX code will change to “TDX” on November 19, 2008. “Over the past few years, the management team has focused on leveraging the Company’s core strengths in the validation and development of biomarkers and diagnostic tests. The divestiture of the technology platform and an exit from the therapeutic business enabled the allocation of the appropriate resources to achieve corporate growth. This fundamental shift in strategy has prompted the name change, and we are pleased to have the support of our shareholders,” said Jenny Harry, BSc, PhD, Chief Executive Officer.

Tyrian Diagnostics will host a conference call to provide an update on the Company’s current programs and corporate development strategy. The call in the U.S. will take place on Monday, November 17, 2008 at 5:00pm EST, 2:00pm PST. Therefore, the call in Sydney will take place on Tuesday, November 18, 2008 at 9:00 am. Participants may join the call by dialling (877) 407-9210 in the U.S./Canada. Non-U.S. participants may access the call by dialling (201) 689-8049. Those interested in hearing management's discussion may also access a live webcast of the conference call on Tyrian’s website at www.tyriandx.com.

A replay of this call will be available for one month by dialling (877) 660-6853 in the U.S./Canada. For Non-U.S. participants dial (201) 612-7415. When prompted, enter Account Number #286 and Conference ID #303767. The webcast will also be available via the Company's website.

About Tyrian Diagnostics

Tyrian Diagnostics (ASX:TDX - News) is a diagnostics company with expertise in biomarker discovery and validation and diagnostic test development and a core focus on respiratory and infectious diseases. In addition, Tyrian can partner in alternative fields given its capabilities to work across the entire spectrum of diagnostic test development – from identification and isolation of biomarkers, point-of-need test design, clinical development or field testing to final product. Tyrian’s product pipeline includes: WheatRite® for measuring wheat quality, which is partnered with BayerCropSciences; and DiagnostIQ™ for active tuberculosis, in collaboration with Becton Dickinson and Company.

Additional information about Tyrian Diagnostics can be found at www.tyriandx.com

Contact:

Tyrian Diagnostics Dr Jenny Harry, CEO, +61 2 8877 8947 Mobile: 0417 428 290

Source: Proteome Systems Limited