AAHX Arana Therap.

RNS Number:3572H
Arana Therapeutics Limited
09 November 2007


For Immediate Release                                            9 November 2007



              Arana Therapeutics Reports Strong Financial Position

Friday, 9 November 2007 Sydney, Australia: Biotechnology company, Arana
Therapeutics (ASX: PTD; (AAH pending), AIM: AAHx) the Australian
biopharmaceutical company focussed on the development of antibody and peptide
products for the treatment of inflammatory dieses and cancer, today announced a
net profit of $133.4 million for its year ended 30 September 2007 and a cash
balance of $169.0 million.
The company undertook two significant transactions during the year. Firstly in
December 2006 it sold its investment in Domantis Limited, realising over $176
million, a greater than four fold return on investment and a net profit of
$136.1 million.

In August 2007 Peptech completed its merger with EvoGenix Limited.

Dr John Chiplin, CEO of Arana Therapeutics said: "Arana is in an excellent
financial position. This is a very strong result and with a cash balance of $169
million, we have the resources to rapidly develop our exciting product
pipeline."

"Over the coming weeks, I will be conducting roadshows in Australia, USA and UK
with existing and potential investors highlighting the company's value including
the recent AVEO licensing transaction and the successful completion of the Phase
I trial for ART621."

"We are delighted with the merger with EvoGenix. The two companies are now
substantially integrated and are focussed on the development of the products we
have and the enhancement of the platform technologies," Dr Chiplin said.

Earlier this week the company's name change from Peptech to Arana Therapeutics
was approved by shareholders and it launched a new business strategy.

The new strategic plan, developed and approved by the Board, commits Arana
Therapeutics to expanding and accelerating the development of its internal
clinical pipeline, leveraging the company's technology platforms to in-license
new drug candidates, minimising and managing drug development risk and seeking
commercial partners at the optimum stage of drug development.

Within three years, Arana Therapeutics expects to have 2-3 Phase II/III assets,
2-3 assets at Phase I or Investigational New Drug stage, 3-4 preclinical
programs, an expanded IP portfolio and a number of new technology deals
generating recurring revenues.

Financial highlights:
Cash position of $169.0 million

Divestment of shareholding in Domantis in December 2006.
GlaxoSmithKline (GSK) acquired Domantis for $575 million, yielding a net gain to
Arana of $136.1 million

Net profit of $133.4 million (last year: $5.1 million)

Revenue has increased 46% to $34.6 million, an increase of $10.8
million for the corresponding period last year

Receivables of $25.5 million, including $17.7 million to be
received from GSK in relation to the Domantis divestment

Total R&D expenditure has increased 56% to $11.6 million

About Arana Therapeutics:

Arana Therapeutics (ASX: AAH (pending); 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$250m 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
rheumatoid arthritis; 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 major 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
Pharmaceuticals.

For further information: www.arana.com

Contact information:

Peptech Limited Tel: + 61 (0) 02 9870 8788
Dr John Chiplin
Chief Executive Officer
Niall Henderson
Chief Financial Officer

Buchanan Communications
Lisa Baderoon Tel:+44 (0)207 466 500
Mark Court
Rebecca Skye Dietrich / Catherine Breen

Nomura Code Securities
Charles Walker Tel:+44(0) 20 7776 1206






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

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