ACRUX LIMITED — Capital/Financing Update 2009

Nov 5, 2009

6 NOVEMBER 2009

ACRUX LIMITED (ACR) - ASX ANNOUNCEMENT

ACRUX APPOINTS CREDIT SUISSE AS CORPORATE ADVISOR

Acrux (ASX: ACR) today announced that Credit Suisse (Australia) Limited (“Credit Suisse”) has been appointed as the Company’s corporate advisor. Credit Suisse will assist Acrux in the execution of the partnering process as well as optimising strategic options associated with AXIRON[™] .

“We believe that that the international reach and expertise of Credit Suisse will further leverage the AXIRON partnering process that is already underway”, said Dr Richard Treagus, Acrux CEO.

“The appointment of Credit Suisse is consistent with the Board’s commitment to maximise the value of Acrux’s technology platform for shareholders, given that the company has now reached an advanced commercial stage”, said Ross Dobinson, Acrux Chairman.

Contact:

Richard Treagus, CEO: +61 417 520 509

About Acrux

www.acrux.com.au

• Acrux is an Australian drug delivery company, developing and commercialising a range of patient-preferred, patented pharmaceutical products for global markets, using its innovative technology to administer drugs through the skin.

• Fast-drying, invisible sprays or liquids provide a delivery platform with low or no skin irritation, superior cosmetic acceptability and simple, accurate and flexible dosing. The technology platform is covered by broad and well-differentiated, issued patents.

• Acrux has one product, Evamist™ (brand name Ellavie™ outside the USA) to treat menopause symptoms, marketed by its licensee in the USA and has the following products in clinical development:

  • AXIRON[™] to treat testosterone deficiency in men

  • Testosterone MDTS[®] to treat decreased libido in women

  • Nestorone[®] MDTS[®] contraceptive sprays for women

  • An undisclosed companion animal health product

  • Nicotine MDTS[®] for smoking cessation

• Acrux has licensed US rights for Evamist™ to KV Pharmaceutical and has appointed distributors for Ellavie™ in 9 European countries and in Southern Africa, South Korea and Australia. Acrux has also licensed its technology to Eli Lilly and Company for veterinary healthcare products, US rights for Testosterone MDTS[®] to VIVUS, and has an exclusive alliance with Orion Corporation for commercial product supply.

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