Phospha E Trial-Update

RNS Number:6873N
Phosphagenics Limited
11 February 2008

11 February 2008

Company Announcement


                        Progression of Phosphagenics and

                     Nestle Nutrition's Phospha E(R) trial


Phosphagenics Limited ("Phosphagenics") (ASX: POH; AIM: PSG; OTCQX: PPGNY) and
Nestle Nutrition (Nestle) today announced that their joint phase 2 human
clinical trial to establish the efficacy of Phosphagenics' Phospha E(R) in the
management of metabolic syndrome is advancing at three sites in Adelaide,
Australia.



Based on current recruitment rates of study participants, the double-blind phase
2 trial, which is fully funded by Nestle, is expected to be completed in
mid-2008.



This phase 2 clinical trial follows two pre-clinical dose response trials
completed by Nestle and Phosphagenics in 2006. The results of those studies
confirmed that, when given orally, Phospha E(R) significantly reduces many of
the key biomarkers associated with metabolic syndrome.



Metabolic syndrome is characterised by a group of risk factors that increase the
risk of diabetes, coronary heart disease and other diseases associated with
plaque build up in artery walls.



The companies have agreed the principal terms of a commercialisation agreement,
which will grant a worldwide exclusive license to Nestle for the use of Phospha
E(R) in medical foods and for Phosphagenics to be the exclusive manufacturer and
supplier of Phospha E(R) to Nestle. The final commercial agreement is due to be
signed on completion of the phase 2 trial.



Harry Rosen, President & CEO at Phosphagenics said: "We believe the agreed terms
will deliver value to all parties and we look forward to building on the already
strong relationship we have with Nestle, the world's largest food company."









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' web site at
www.phosphagenics.com





About Nestle Nutrition

Nestle Nutrition is an autonomous business within the Nestle group managing and
developing the group's speciality nutrition brands. Through science-based
nutrition products and services, Nestle Nutrition helps enhance the quality of
people's lives by supporting health and providing care for specific consumer
groups with special nutrition needs at every stage of life.



About 22 000 employees in more than 70 markets are part of Nestle Nutrition. Its
product portfolio - covering infant nutrition, healthcare nutrition, performance
nutrition and weight management - includes such trusted and well-recognised
brands as: NAN, GERBER, LACTOGEN, NESLAC, CERELAC, BOOST, NUTREN, PEPTAMEN,
RESOURCE, OPTIFAST, POWERBAR, MUSASHI and JENNY CRAIG.



For more information, please visit Nestle Nutrition' web site at
www.nestlenutrition.com.





About the Phosphagenics / Nestle Pre-Clinical Studies

The final results of the two pre-clinical dose response trials announced to the
market on December 14th, 2006, confirmed that when given orally, Phospha E(R)
significantly reduced many of the key biomarkers associated with metabolic
syndrome, inflammation and cardiovascular disease. Additionally, the most
appropriate dosage required to commence human clinical trials was also
determined.  In these trials, animals treated with varying doses of Phospha E(R)
were shown to have statistically significant reductions in key parameters such
as plaque formation, aortic vascular dysfunction, cholesterol, triglycerides and
LDL-C (so-called bad cholesterol).





About Metabolic Syndrome

Metabolic syndrome is characterised by a group of metabolic risk factors -
abdominal obesity and elevated blood pressure, cholesterol, triglycerides and
blood glucose. The root causes of metabolic syndrome are overweight/obesity,
physical inactivity, and genetic factors. It is estimated that about 27% of
adults in the US have metabolic syndrome and that one in three overweight or
obese people in the US have this condition. The condition is being diagnosed
with increasing frequency.





About Phospha E(R)

Phospha E(R) is a patented derivative of vitamin E that has superior properties
compared to its parent molecule. For example, Phospha E(R) has been shown to be
better absorbed than vitamin E, both orally and through the skin, to lower
cholesterol and triglycerides, prevent the formation of plaque in heart
arteries, as well as having unique anti-inflammatory properties.



Phospha E(R) has applications across all three nutraceutical market segments,
and is currently sold internationally as a dietary supplement by NBTY Inc (under
the name of Ester-E(TM)) and is marketed worldwide in the personal care market 
as Vital ET(TM) by ISP Corporation.





Company Contact Details:                       US Investor and Media Contacts:
Mr Harry Rosen                                 Mr Brian Ritchie
Phosphagenics Limited                          Financial Dynamics
President and CEO                              Tel +1 212 850 5683
Tel +61 3 9605 5900



Ms Mary McSwiggan
Phosphagenics Limited
Investor Relations Manager
Tel +61 3 9605 5907


Safe Harbor Statement

This press release contains forward-looking statements based on current
expectations of future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialise, actual results could vary materially
from the Phosphagenics' expectations and projections. Risks and uncertainties
include general industry conditions and competition; economic conditions, such
as interest rate and currency exchange rate fluctuations; technological advances
and patents attained by competitors; challenges inherent in new product
development, including obtaining regulatory approvals; domestic and foreign
health care reforms and governmental laws and regulations.




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

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