Board Change and Update

RNS Number:4835K
Norwood Immunology Ld
21 December 2007


For Immediate Release                                           21 December 2007



                           NORWOOD IMMUNOLOGY LIMITED


             Stem Cell Initiative, Board Changes and Funding Update


Norwood Immunology Limited and its subsidiaries ('Norwood Immunology' or 'the
Group') (AIM:NIM), the Group focused on the rejuvenation and repair of the
immune system and the development of virosomal vaccines, today announces Board
changes and is reporting increased activity on commercial opportunities relating
to stem cells.

Professor Richard Lennox Boyd (aged 57), Norwood Immunology's Australian Chief
Scientific Officer, has agreed to join Norwood Immunology's Board with immediate
effect. He has been leading the Group's stem cell initiative and the
collaborations between Norwood Immunology and the Australian Stem Cell Centre.
He has recently been appointed as Acting Director of the Monash Immunology and
Stem Cell Laboratories in Melbourne, an internationally recognised research
centre uniquely combining two of the highest profile fields of research
excellence - stem cell science and immunology - and the location of Norwood
Immunology's Australian research activities. There are no other matters to be
announced as required under paragraph (g) of Schedule 2 of the AIM Rules in
respect of Richard Boyd.

The Group has, over the past three years, devoted an increasing amount of its
Melbourne-based research activities on the interaction between the immune system
and evolving stem cell therapies. The focus of the new program recognises the
importance of immunology in relation to assuring patient acceptance of stem cell
therapies. It links the Norwood foundation technology of re-activating the
thymus with LHRH and hence rejuvenation and manipulation of the immune system,
with that of the anti-inflammatory and tissue repair inducing properties of
mesenchymal and other adult (not embryonic) stem cells. This combination has
many potential applications in regenerative medicine, transplantation tolerance
and treatment of cancer, autoimmunity and AIDS. Norwood Immunology is now
pursuing the commercial potential for such stem cell-based therapies in both the
human and veterinary fields. This initiative, together with the further
development of its virosomal vaccines, is now expected to be a major focus of
the Group's strategy.

In addition to the appointment of Richard Boyd to the NIM Board, NIM also
reports that Brian F. Guzman and Henry W. Stein have both tendered their
resignation from the Board of Norwood Immunology to avoid possible conflicts of
interest given their other responsibilities with Indus Capital Partners and
Indus Capital Advisors (HK) Ltd respectively.

The Group also confirms that it has terminated by mutual consent the A$2 million
secured facility agreement with Indus Opportunity Master Fund, Ltd (the "Loan").
The Loan was a drawdown facility for up to A$2 million repayable not later than
30 June 2008. As at today's date there are no funds drawn down against this
facility and no balance is outstanding for repayment.

As reported in the accounts for the year ended 30 June 2007, the Group will
require additional capital to fund its operations in 2008 and the Board has
therefore commenced the process of seeking alternative sources of funding
available.

Richard Boyd, CSO of Norwood Immunology, commented "The combination of stem
cells with immunology represents an unprecedented opportunity for breakthrough
medical treatments. That NIM, after 3 important years of research is now
centrally placed in this field is cause for great optimism and I look forward
enormously to joining the Board to assist in managing these exciting
opportunities"

Richard Williams, CEO of Norwood Immunology, commented: "On behalf of the Board
I would like to welcome Richard Boyd to the Board and thank both Brian and Henry
for their contribution over the last year."


For further information please contact:


Richard Williams, Chief Executive Officer, Norwood Immunology Limited
+44 (0)7860 295153


Lisa Baderoon, Mark Court, Mary-Jane Johnson, Buchanan Communications
+44 (0)207 466 5000


Capel Irwin, Nicholas Marren, KBC Peel Hunt Ltd
+44 (0)207 418 8915




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

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