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Lipoxen PLC (XEN)

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Monday 28 January, 2008

Lipoxen PLC

SuliXen enters Phase I trial

Lipoxen PLC
28 January 2008

                                   Lipoxen PLC

                          ('Lipoxen' or 'the Company')

       Lipoxen's first clinical candidate, SuliXen, enters Phase I trials

First results on this novel long-acting insulin expected in Second Quarter 2008

London, UK, 28 January 2008 - Lipoxen PLC (AIM:LPX) a bio-pharmaceutical company
specialising in the development of high value differentiated biologicals,
vaccines and oncology drugs, announces today that a Phase I trial of SuliXen,
its long-acting insulin candidate for Type 1 and Type 2 diabetes, has started.
SuliXen is the first of Lipoxen's products to enter clinical trials.

The exploratory Phase I study, which is taking place at the Federal State Center
of Endocrinology in Moscow, will involve 12 healthy volunteers. In a crossover
design, each volunteer will receive two doses of SuliXen (0.1IU/kg and 0.3IU/kg)
in comparison with a long-acting, insulin analogue - insulin glargine (Lantus,
Sanofi -Aventis) dosed at 0.2IU/kg. The study is expected to report first
results in the second quarter of 2008. SuliXen, a long-acting insulin, is
formulated using Lipoxen's proprietary PolyXen(R) technology. This technology is
based on polysialic acid (PSA), a naturally occurring polymer which is
biodegradable, non-immunogenic and non-toxic, and is expected to avoid the
toxicity attributed to polyethylene glycol in PEGylated protein drug candidates.

M. Scott Maguire, CEO of Lipoxen, said:

'We are pleased that the Phase I trial of SuliXen has started, this is an
important milestone in the development of the Company's own drug pipeline. With
the World Health Organisation expecting there to be over 300m diabetes sufferers
world wide by 2025, there is a clear market need for alternative insulin
formulations such as SuliXen. In addition to insulin, Lipoxen anticipates that
its long-acting erythropoietin (EPO) candidate will enter Phase I clinical
trials shortly. The early months of 2008 are expected to be a very important
period for Lipoxen as we generate the first clinical data on our most advanced
high value differentiated biologicals. In addition, to developing our own
product pipeline, we are continuing to work to sign further licensing deals with
pharma and biotech companies who are in need of improved delivery solutions for
their biologics.'



Lipoxen PLC
M. Scott Maguire, Chief Executive Officer             +44 (0)20 7691 3583

Grant Thornton Corporate Finance (nominated adviser)
Philip J Secrett/Colin Aaronson                       +44 (0)20 7383 5100

Citigate Dewe Rogerson                                +44 (0)20 7638 9571
David Dible / Emma Palmer

Notes to Editors

Lipoxen PLC (AIM:LPX) is a biopharmaceutical company specializing in the
development of high value differentiated biologicals, vaccines and oncology
drugs. Products currently under development include improved formulations of
important biologicals such as EPO, G-CSF, insulin and Interferon-alpha. These
novel products which are based on Lipoxen's proprietary PolyXen(R) technology
address markets in excess of US$1 billion. This technology is designed to
improve the stability, biological half-life and immunologic characteristics of
therapeutic proteins naturally. Lipoxen has two further naturally-derived
proprietary delivery technologies, ImuXen(R) and a related liposomal technology
for the formulation of cytotoxic oncology drugs, which are being developed to
enhance the efficacy and safety of various vaccines such as a multivalent
Hepatitis B-E and pneumococcal vaccines, as well as a number of anti-cancer
agents like paclitaxel. The Company's proprietary delivery technologies are
attracting significant interest and Lipoxen is currently co-developing products
with the Serum Institute of India Limited (one of the world's leading vaccine
companies, India's largest biotech company and a major shareholder in Lipoxen)
and has license agreements in place with Baxter International and InterVet, a
leading animal health company.

Lipoxen was admitted to trading on the AIM Market of the London Stock Exchange
in January 2006.

This announcement includes 'forward-looking statements' which include all
statements other than statements of historical facts, including, without
limitation, those regarding the Company's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to the Company's products and services), and any
statements preceded by, followed by or that include forward-looking terminology
such as the words 'targets', 'believes', 'estimates', 'expects', 'aims',
'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or
similar expressions or the negative thereof. Such forward-looking statements
involve known and unknown risks, uncertainties and other important factors
beyond the Company's control that could cause the actual results, performance or
achievements of the Company to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous assumptions
regarding the Company's present and future business strategies and the
environment in which the Company will operate in the future. Among the important
factors that could cause the Company's actual results, performance or
achievements to differ materially from those in forward-looking statements
include those relating to The Company's funding requirements, regulatory
approvals, clinical trials, reliance on third parties, intellectual property,
key personnel and other factors. These forward-looking statements speak only as
at the date of this announcement. The Company expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any forward-looking
statements contained in this announcement  to reflect any change in the
Company's expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based. As a result of these
factors, readers are cautioned not to rely on any forward-looking statement.

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