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Lipoxen PLC (XEN)

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Friday 14 March, 2008

Lipoxen PLC

Technology Transfer

Lipoxen PLC
14 March 2008

For Immediate Release

                                  Lipoxen PLC
                          ('Lipoxen' or 'the Company')

      Lipoxen Completes Technology Transfer for Sustained-Release Insulin

                  to Intervet, a leading Animal Health Company

             - Lipoxen to receive milestone payment from Intervet -

London, UK, 14th March 2008 - Lipoxen PLC (AIM: LPX) announces today that it has
completed the technology transfer of a sustained-release insulin for animal use
to Intervet, part of Schering-Plough Corporation. As a result, Lipoxen will
receive a milestone payment of €100,000. This payment has been made under
Lipoxen's agreement with Intervet, which covers the development of a
sustained-release insulin for the global veterinary health market. The agreement
also provides for further clinical, regulatory and sales milestone payments to
Lipoxen as well as royalties on future product sales.

Lipoxen and Intervet signed their agreement to develop a sustained release
insulin product for the veterinary market in September 2007. This
sustained-release insulin product is based on Lipoxen's PolyXen(R) drug delivery
technology. This technology has been developed to improve the pharmacokinetic
profile of protein drugs, such as insulin, by extending their therapeutic half
life, thereby reducing the frequency of administration. PolyXen(R) is based on
linking the therapeutic proteins, or peptides, of interest to the naturally
occurring polymer polysialic acid.  It improves the stability and the
therapeutic half-life of protein drugs and improves their solubility and
immunological characteristics, while maintaining biological activity and
minimizing toxicity.

Scott Maguire, CEO of Lipoxen, said: 'We are delighted that we have achieved
this first important milestone in our agreement with Intervet. As part of this
four- step technology transfer, we have shown that the sustained-release insulin
product, developed based on our PolyXen(R) technology, works consistently to
produce sustained insulin activity in the target animal species'.

He added: 'The achievement of this Intervet technology transfer milestone with
sustained insulin, gives me confidence that we should be able to demonstrate
similar benefits in humans. We are currently conducting an exploratory Phase I
study with our own human sustained-release insulin, SuliXen, in comparison to
Sanofi Aventis' Lantus, which achieved sales in excess of €2bn in 2007, and we
expect to report the results of this study in the second quarter of 2008.'


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

Landsbanki Corporate Finance (nominated adviser)   +44 (0)20 7426 9000
Shaun Dobson / Claes Spang

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

Notes to Editors

Further information on Lipoxen

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 erythropoietin (EPO), G-CSF, insulin and
Interferon-alpha. Lipoxen has two products in clinical development SuliXen, a
long-acting human insulin and ErepoXen(R), long-acting EPO. These novel
products, which are based on Lipoxen's proprietary PolyXen(R) technology, each
address markets in excess of US$1 billion.

Lipoxen's 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