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Lipoxen Appointed Lead for Vaccine Programme Grant

30 September 2009

Lipoxen plc (AIM: LPX), a bio-pharmaceutical company specialising in the development of high-value differentiated biologicals, vaccines and siRNA delivery, is pleased to announce that the Technology Strategy Board, the Government organisation charged with driving UK innovation, has appointed Lipoxen as lead member of the grant consortium for its controlled-release nanoparticle vaccine research programme, which includes Lipoxen's influenza vaccine project.

Lipoxen's influenza vaccine project stems from work as part of a Technology Strategy Board-funded grant consortium with Cambridge Biostability Ltd (CBL), the Health Protection Agency (HPA) and Cambridge University for the development of controlled release nanoparticle vaccines. CBL entered into a Creditors Voluntary Liquidation in June 2009, following which Lipoxen have been appointed lead partner.

In April 2009, Lipoxen reported positive preclinical results for the delivery of a novel influenza vaccine formulation with enhanced immunogenicity. Lipoxen's patent-protected anhydrous influenza product brings to the research programme long term storage stability and the potential for cold chain free distribution, characteristics which are recognized as important for the development of vaccines for the developing world markets.

Since April, Lipoxen has continued to progress the influenza project. As lead partner Lipoxen will now be responsible for the overall management of the project which will include at least one other vaccine candidate originated by the UK's Health Protection Agency (UK HPA). The Multi-Imaging Centre at the University of Cambridge will provide comprehensive analytical support for the project using state of the art microscopic ultra-characterisation of the novel vaccine candidates.

The principal project milestones are as follows:

1. Completion of equipment installation and resource allocation
2. Completion of initial protective efficacy studies
3. Completion of definitive protective efficacy studies and challenge studies
4. Completion and submission of Final Report

While the project could take as long as 12 months to complete, given the prospective importance of the Company's H1N1 influenza product candidate, Lipoxen plans to accelerate the programme as much as possible, and hopes to achieve completion in no more than 9 months from the restart of the project in early October.

Commenting on the Technology Strategy Board decision, M. Scott Maguire, CEO of Lipoxen, said:

"Lipoxen is delighted to be appointed by the Technology Strategy Board as the lead member of the grant consortium working to develop controlled release nanoparticle vaccines.

"The ability to achieve enhanced levels of immunity through better vaccines is important for seasonal flu, particularly when aiming to achieve good responses in the elderly. Equally, the ability to achieve adequate levels of immunity with lower dosages is important when considering the logistics of pandemic flu vaccine supply.

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