PHOSPHAGENICS ANNOUNCES PLANS TO EXPAND ITS MANUFACTURING CAPABILITIES

Phosphagenics Limited, the Australian Stock Exchange and the London Stock Exchange's Alternative Investment Market listed pharmaceutical and nutraceutical company, today announced that it has commenced the building of a production plant in Melbourne. The new facility, added to the existing unit owned by the Company in Ontario and operated under a contract-manufacturing arrangement, will permit a material increase in the Company's ability to manufacture tocopheryl phosphates, vital components of many of its pharmaceutical and nutraceutical products. It will also provide the Company with manufacturing capabilities to meet anticipated future supply requirements.

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