Australian Cancer Technology Changes Name to Avantogen; With a Robust Pipeline Including Late-Stage Cancer Products and Powerful

Australian Cancer Technology, Ltd. (ASX:ACU) announced
today that the Company's name has changed to Avantogen Limited, by a
vote of shareholders at a general meeting in Sydney on May 9, 2005.
Avantogen will continue to be traded on the Australian Stock Exchange
(ASX) under the symbol ACU. The Company has established a Level 1 ADR
stock program in the U.S., trading under the symbol AUCJY, and also is
listed under the symbol CBS on the Xetra exchange, the electronic
trading system of the Frankfurt Stock Exchange. Both of these foreign
exchange symbols will also stay the same for the present.
   "This name change symbolizes the beginning of a new, exciting era
in our Company's history, following a concentrated period of
technology acquisitions and restructuring of both our Board and
management," said Dr. Leonard Firestone, M.D., who was appointed chief
executive officer in March. "With two Phase II cancer product
candidates in the clinic, and an extremely promising vaccine adjuvant
involved in several Phase I U.S. trials, Avantogen is now poised for a
sustained period of rapid growth in value and stature."
   Dr. Firestone outlined plans for the future growth of the company,
including its relocation to the United States' biotech marketplace,
during the shareholder meeting. The slide presentation from Dr.
Firestone's address to shareholders can be found at www.avantogen.com.
   The Company also announced the closing of an A$5.7 million 1:3
non-renounceable rights issue. A total of 33% of shareholders
participated, and the balance was placed by Burdett Buckeridge Young
(BBY) Limited.
   "I am gratified to see this level of support by our shareholders.
This successful rights offering was the first stage of our Company's
capital program this year, which will allow our three exceptionally
promising clinical development programs to proceed at full pace. As
previously announced during our shareholder forums in April, the
second stage will raise, principally in the U.S. capital markets, the
funds needed to enter pivotal trials in the U.S., and to meet NASDAQ's
listing requirements," Dr. Firestone said.

   About Avantogen

   Avantogen is an international biotechnology Company developing a
broad oncology-related product portfolio. Avantogen has acquired the
North American marketing rights for RP101, a promising pancreatic
cancer drug, and is currently conducting Phase II clinical studies
through a subsidiary company, Resistys Inc., a joint venture with
Bioaccelerate of New York. Avantogen's Pentrys(TM) anti-cancer vaccine
is being evaluated in prostate cancer patients in Phase IIb clinical
studies, and the Company is advancing several immune enhancing
adjuvants in three Phase I cancer trials in the U.S. The
immune-enhancing adjuvants were developed by Galenica, a privately
held U.S. vaccine developer. Avantogen acquired Galenica in July 2004.
The Company also markets Revisys(TM), a branded line of medical
nutritionals designed for people with special needs, including those
undergoing cancer treatments.

   Forward-Looking Statements

   Statements contained in this press release that are not historical
information are forward-looking statements as defined within the U.S.
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties that could cause
Avantogen's ("company") actual results to differ materially from those
projected or implied. Such potential risks and uncertainties relate,
but are not limited, to the results of clinical trials, product demand
and market acceptance, the impact of competitive products and pricing,
effectiveness and pace of current and future product development, and
regulatory approval. More detailed information on these and additional
factors that could affect the company's operating and financial
results are described in the company's annual reports filed, or to be
filed, with the Australian Stock Exchange. The company urges all
interested parties to read these reports to gain a better
understanding of the many business and other risks that the company
faces. The historical results achieved by the company are not
necessarily indicative of its future prospects. The company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.