Directorate Change

    RNS Number : 5435Y
  Phosphagenics Limited
  08 July 2008
   

    
    08 July 2008


    Company Announcement

    Phosphagenics appoints US-based Non-Executive Director

    Phosphagenics Limited ("Phosphagenics") (ASX: POH, AIM: PSG, OTCQX: PPGNY) today announced the appointment of Michael Ashton as a
Non-Executive Director. In addition to joining the Board of Directors, he will also consult to the Company on commercialisation strategies.

    Michael has more than 30 years' experience in the international pharmaceutical industry having held senior management positions with
Merck Inc., Pfizer Inc., Faulding Inc. and SkyePharma Plc, where he was CEO. 

    He is a member of the Boards of Hikma Plc., Proximagen Neuroscience Plc. and Transition Therapeutics Inc.

    Harry Rosen, Phosphagenics' President & CEO, said: "I am delighted to welcome Michael to our Board and believe his appointment
considerably strengthens our commercial team."

    Michael Ashton said: "The Company's technologies and new product development opportunities are very exciting. I am very pleased to be
joining the Board at this time."
    Pursuant to Rule 17, Schedule Two, Paragraph (g) of the AIM Listing Rules for Companies, the Company discloses the following information
in relation to Mr M R D Ashton who, with effect from 8 July 2008, has been appointed as a Non-Executive Director of the Company:
    (i) the director's full name and age together with any previous names;
    Michael Richard Dwyer ASHTON born in Sydney, NSW, Australia on 21 February 1946

    (ii) the names of all companies and partnerships of which the director has been a
    director or partner at any time in the previous five years, indicating whether or not
    the director is still a director or partner;


  COMPANY NAME   APPOINTED         STATUS
 Hikma Plc       Nov 2005   Current
 Proximagen Plc  Dec 2005   Current
 Transition Inc  Dec 2002   Current
 LMANV           Dec 2006   Retired July 2007
 Skyepharma Plc  Mar 1997   Retired June 2006
 Somanta Inc     Jun 2005   Retired December 2007


    The Company, Phosphagenics Limited, confirms that there is no further disclosure obligation required pursuant to Rule 17, Schedule Two,
Paragraph (g)


    ENDS*.


    APPENDIX AND NOTES TO EDITORS

    About Phosphagenics Limited 
    Phosphagenics is a Melbourne-based, globally driven biotechnology company focused on the discovery of new and cost effective ways to
enhance the bioavailability, activity, safety and delivery of proven pharmaceutical and nutraceutical products. 

    Phosphagenics' core technology is built around the science and application of phosphorylation, a process where the addition of a
phosphate group has been found to enhance the bioavailability, activity and safety of existing pharmaceuticals and nutraceuticals, as well
as to assist in the production of drug delivery platforms.

    Phosphagenics' shares are listed on the Australian Stock Exchange (POH) and the London Stock Exchange's Alternative Investment Market
(PSG). An ADR - Level 1 program was established in the U.S. with The Bank of New York Mellon (PPGNY) for U.S. investors to trade in
Phosphagenics' stock on the 'over-the-counter' market. In July 2007, this was upgraded to the International OTCQX, a new premium market tier
in the U.S. for international exchange-listed companies, operated by Pink Sheets, LLC.

    For more information, please visit Phosphagenics website at www.phosphagenics.com
      


    Company Contact Details:     U.S. Investor and Media Contacts:
    Mr Harry Rosen    Brian Ritchie
    Phosphagenics Limited    Financial Dynamics 
    President & CEO    Tel [phone]
    Tel [phone] 

    Mary McSwiggan 
    Phosphagenics Limited
    Investor Relations Manager
    Tel [phone]


This information is provided by RNS
The company news service from the London Stock Exchange
 
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