CADOUX LIMITED — AGM Information 2007

Nov 18, 2007

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ANNUAL GENERAL MEETING

19 November 2007

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2006/2007 IN REVIEW

• Development Plan for Coramsine[®] completed and

• approved by the Therapeutic Goods Administration – Clear path forward for Solbec to re-enter Phase II

• clinical trials

  • Supplementary preclinical studies commenced

• Capital raising initiatives secured $2.45M

• Several important patents proceeded to grant

• Physician’s IND granted by the U.S. Food and Drug

• Administration

SHAREHOLDER VALUE

• Coramsine[®] has completed two Phase I trials and is

• working towards Phase II

  • Efficacy and safety reported in the Phase I cancer trial

– Safety reported in the Phase I psoriasis trial

• Solbec is actively seeking out co-development partners

• for one or several of Coramsine’s[®] potential applications including:

  • Cancer

  • Psoriasis

  • Diagnostics

  • Palliation

  • Animal health

• The Company is also focused on new product acquisition/co-development initiatives which will add to current pipeline

CORAMSINE[®] OVERVIEW

• Phase I human trials complete

  • Coramsine’s[®] safety confirmed

  • Clinical efficacy reported

• Excellent drug safety profile

  • There have been no Serious Adverse Events reported in connection with the use of Coramsine[®] in humans

• Efficacy seen in Phase I trial subjects [and anecdotally via the Special Access Scheme] is very encouraging – De-risks Coramsine’s[®] move into Phase II trials

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CLINICAL UPDATE

• Phase I trials complete � safety and preliminary efficacy reported (results presented at ASCO 2006 in Atlanta and published in the Journal of Clinical Oncology June 06)

• FDA Orphan Drug designation secured for both RCC and melanoma

• Australia: Ethics approvals received for Phase II trials. Australian Phase II trials on Voluntary Hold.

• U.S.A: Physician’s IND (single patient) opened with the FDA for RCC Patient in Long Beach California

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TGA UPDATE

• 8 May 2007 Announced to market the TGA’s acceptance of Solbec’s Development Plan for Coramsine[®]

• Development Plan details a series of preclinical studies

• to supplement Coramsine’s[®] existing data package – In vitro metabolic studies (ADME)

  • Protein binding studies (human, rat and dog)

  • • In vitro metabolic studies in hepatocytes (human, rat and dog)

  • – Toxicology � 14 day and 28 day studies

• The supplementary preclinical studies have commenced

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PHYSICIAN’S IND IN THE U.S.

• On October 16 2007 Solbec announced to market the FDA’s approval of a Physician’s IND for the treatment of a Renal Cell Carcinoma patient based in Long Beach California

• Physician’s IND Sponsored by Dr Robert Nagourney of Rational Therapeutics

  • RT have had a long term association with Solbec

  • Physician’s IND based on RT’s ex vivo analysis of this patient’s cancer [strong response to Coramsine[®] where other drugs had failed]

• Patient update: the patient has now completed 2 treatment cycles of Coramsine[®] therapy and is tolerating the treatment well

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SUMMARY

• Coramsine[®] Cancer Project – Encouraging Phase I efficacy results, unique mode of action and clear freedom to operate

• Coramsine[®] : significantly de-risked, advanced stage project and has a market cap of less than one tenth of the other Australian entities with similar stage projects

• Working toward resumption of Phase II trials for Coramsine[®] as soon as possible

• Solbec actively seeking licensing/co-development partners for Coramsine[®] and new projects to acquire to build pipeline

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Dr David Sparling General Manager Solbec Pharmaceuticals Ltd T: +61 8 9446 7555 M: +61 4 1772 1972 E: david.sparling@solbec.com.au www.solbec.com.au