CADOUX LIMITED — Capital/Financing Update 2005

Nov 17, 2005

SOLBEC SECURES CAPITAL ACCESS GRANT FUNDING

Summary:

Solbec secures \$23,000 Capital Access Grant from WA Department of Industry and Resources

Perth, Australia. Friday, 18 November 2005: Solbec Pharmaceuticals (ASX: SBP) today announced receipt of a Capital Access Grant from the Western Australia Department of Industry and Resources to assist in securing further funding for Coramsine's® Phase II cancer trials.

The Capital Access grant is a merit based WA Government program which assesses applications on a criteria of management capability, commercial potential, technical strength and the national benefit of the project.

Solbec will direct the \$23,000 grant funding, on a dollar-for-dollar basis, towards securing further funding for Coramsine's® soon to commence Phase II cancer trials.

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Further information:

Stephen Carter	Media:
Managing Director/CEO	Justine Lamond
Tel: $(08)$ 9446 7555	Tel: (02) 9237 2800
Mob: 0412 154 029
Email: stephen.carter@solbec.com.au	Email: ilamond@bcg.com.au

About Solbec

Solbec Pharmaceuticals Ltd identifies naturally-occurring compounds with potential in the development of better therapies for debilitating conditions and life-threatening diseases. The company is currently progressing its key project, Coramsine®, through Phase VIIA clinical trials for the treatment of advanced solid tumours; and as a topical treatment for psoriasis. The two proprietary ingredients of Coramsine® were isolated from the fruit of a weed known as the Devil's Apple (Solanum linnaeanum). They show activity against some cancers and cause potentially therapeutic changes to the immune system. In addition to human health, Coramsine® has potential application to animal health and diagnostics. Solbec's business strategy is to partner or out-license Coramsine® for the final stages of pre-commercial development and marketing.

www.solbec.com.au