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PEPLIN REPORTS PEP005 DATA

May 1, 2006

Peplin has announced positive results from the Australian Phase IIa clinical trial of its proprietary drug PEP005 Topical in superficial forms of basal cell carcinoma (sBCC), the most common form of skin cancer.

The trial achieved its objectives. Two applications of PEP005 Topical (0.05 percent) gel on two consecutive days cleared 71 percent of sBCC tumors. This result was statistically significant. In addition, PEP005 Topical gel had a favorable safety profile and was well-tolerated. The majority of local skin responses reported were graded mild or moderate.