ACRUX LIMITED — Regulatory Filings 2010

Jun 16, 2010

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ACRUX CEO NOMINATED IN 2010 ERNST & YOUNG ENTREPRENEUR OF THE YEAR[®] AWARDS

Melbourne, 17 June 2010: Acrux (ASX: ACR) is pleased to announce that its CEO Richard Treagus has been nominated for the 2010 Entrepreneur Of The Year awards (southern region – Victoria and Tasmania), following Acrux’s achievements with AXIRON[™] . Richard joins other nominees from across Australia who will compete for the ultimate prize of being named 2010 Australian Entrepreneur Of The Year. Regional category winners will be announced at an awards ceremony in Melbourne on 26 August 2010.

In mid-2007, Richard and the Acrux team saw the potential for Acrux’s AXIRON product to become a company-maker. AXIRON is an underarm-applied testosterone solution that, if approved by the regulatory authorities, will enter a global testosterone therapy market of US$1.2 billion, growing at 20% per annum.

In March 2010, after successfully completing the Phase 3 development programme, the Acrux team licensed the global rights for AXIRON to Eli Lilly in a deal worth up to US$335 million plus royalties - the largest product licensing deal in the history of the Australian biotechnology industry. Acrux has already received US$51 million and a further US$87 million will be payable if AXIRON is granted marketing approval by the US Food and Drug Administration (FDA).

“AXIRON has completely transformed Acrux’s financial prospects and I am pleased to confirm that we expect to deliver a maiden profit of between $46 and $47 million for FY2010”, stated Acrux Chairman Ross Dobinson. “Acrux and Eli Lilly are working productively with the FDA and we expect a decision from the regulator in relation to the AXIRON marketing application during the quarter ending March 2011”, he said.

Contact:

Ross Dobinson – Chairman 0418 347 494

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About Ernst & Young’s Entrepreneur Of The Year

Ernst & Young Entrepreneur Of The Year[® ] is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognises the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them, through regional, national and global awards programs in more than 135 cities in 50 countries.

The Entrepreneur Of The Year program, launched in Australia in 2001, is one of the country’s leading business awards programs. It has so far recognised over 800 leading Australians for their entrepreneurial business success and each year, through its global program, acknowledges some 10,000 entrepreneurs worldwide. Founded and produced worldwide by Ernst & Young, the program in Australia is sponsored by Westpac (primary sponsor), Qantas (sponsor) and Austrade (supporter). Further information about the Entrepreneur Of The Year program can be found at ey.com/au/eoy.

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 marketed by a licensee in the USA, two products in registration in the USA, one product in registration in Europe and further products at earlier stages of development.

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