Project with CSL

RNS Number:7583I
Arana Therapeutics Limited
29 November 2007



For Immediate Release                                           29 November 2007
                                                                            

                             ARANA THERAPEUTICS LTD

                 ARANA THERAPEUTICS COMPLETES PROJECT WITH CSL



Arana Therapeutics Limited (ASX: AAH, AIM: AAHx) the Australian
biopharmaceutical company focused on the development of antibody and peptide
products for the treatment of inflammatory diseases and cancer, today announced
today reported that it has successfully completed a collaborative project with
its pharmaceutical partner CSL Limited (CSL).


Provision of the final report triggers a further payment to Arana from CSL under
the terms of the collaboration agreement between the two companies.


Under the agreement, signed in June 2006 and extended to cover additional work
in December 2006, Arana utilised its SuperhumanisationTM technology to develop
humanised versions of lead antibodies from the CSL pharmaceutical pipeline.
These humanised products have then been affinity matured using Arana's EvoGeneTM
optimisation technology. Should CSL choose to develop one of these antibodies
through clinical testing, Arana will be eligible to receive milestone payments
and will earn royalty payments on the sale of all marketed products.


Arana is employing its technology platform to develop valuable protein
therapeutics both internally, as well as in further collaborations with
international pharmaceutical giant GSK and Melbourne-based Vegenics Limited.
Arana has also more recently announced an alliance with US-based Aveo
Pharmaceuticals to use Arana's SuperhumanisationTM technology for the internal
development of several Aveo products.


Arana CEO, Dr John Chiplin, said: "The completion of the project with CSL
continues to deliver on the success of the technology partnerships that the
company has very successfully built upon over the last 2 years."


"In March 2007 Arana announced successful validation of its first project with
GSK with a follow up announcement confirming commencement of a second project
with GSK, again on a lead product from the GSK pipeline."


"We are of course delighted that we have once again succeeded in delivering to
our partners a quality product with improved properties suitable for direct use
as a therapeutic", he added.


About Arana Therapeutics:


Arana Therapeutics (ASX: AAH; AIM: AAHx) is an international biopharmaceutical
company formed through the merger of Peptech and EvoGenix in August 2007. The
company uses superior technology to develop next generation drugs that will
improve the lives of patients with inflammatory diseases and cancer.


Arana Therapeutics' innovative engineering technologies provide the basis for
clinical development in the antibody space, a market which draws on high demand.
With a market capitalisation of around A$250 million and solid cash resources,
Arana Therapeutics has the financial stability and management expertise to
accelerate its clinical programs, and is on track to have at least 3 clinical
stage assets within three years.


Arana is listed on the Australian Securities Exchange (ASX) and the London Stock
Exchange (AIM).


The lead pipeline consists of four lead drug programs: ART621 to treat severe
rheumatoid arthritis and other inflammatory diseases; ART010 to treat
osteoporosis and bone cancer; ART104 to treat solid tumours in colorectal
cancer; and ART150 for lung cancer and melanoma. Additionally the company has
earlier stage products in development for the treatment of a range of conditions
including age related macular degeneration, psoriasis, colorectal cancer, and
leukaemia.


The most advanced drug candidate ART621 will commence Phase II clinical trials
in 2008. In development for the treatment of severe rheumatoid arthritis, and
other inflammatory disorders, ART621 has been shown to be well-tolerated in
healthy volunteers at a variety of dose levels when administered intravenously
or under the skin.


Arana has recurring revenues from commercial and development partnerships with
six international companies including GSK, CSL, Centocor (J&J) and Abbott
Laboratories.


For further information: www.arana.com


For further information, please contact:
Arana Therapeutics Ltd
Dr John Chiplin, Chief Executive Officer              [phone]
Niall Henderson, Chief Financial Officer              [phone]

Buchanan Communications
Lisa Baderoon ([e-mail])                 [phone]
Rebecca Skye Dietrich / Catherine Breen

Nomura Code Securities
Charles Walker                                        [phone]








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