CYCLOPHARM LIMITED — Capital/Financing Update 2011

Dec 18, 2011

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19 December 2011

The Manager Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

cyclo medica molecular imaging techne gas

Cyclopharm Ltd ABN 74 116 931 250 Bldg 75 Business & Technology Park New Illawarra Road Lucas Heights NSW 2234 Australia POB 350 Menai Central NSW 2234 T 61 2 9541 0411 F 61 2 9543 0960 www.cyclopharm.com.au

Macquarie University Hospital becomes Shareholder in Imaging Joint Venture

The Directors of Cyclopharm (ASX: CYC) along with our joint venture partners Alfred Health Solutions are pleased to announce that Macquarie University Hospital (MUH) has become a shareholder in Macquarie Medical Imaging (MMI).

Macquarie Medical Imaging was formed in 2009 as a joint venture between Alfred Health Solutions and Cyclopharm. Under the new shareholders agreement Macquarie University Hospital will become a 30% shareholder in the venture. Cyclopharm will maintain its 20% shareholding with the remaining 50% shares held by Alfred Health Solutions. All parties bring a unique contribution to the venture:

• Macquarie University Hospital (MUH) is Australia’s first and only private hospital on a university campus. The Hospital is committed to delivering a positive patient experience and superior clinical outcomes through the best available care and the latest technologies. MUH was established to complement the Australian School of Advanced Medicine (ASAM), the first medical school in Australia to be linked to a private teaching hospital. ASAM offers advanced training for doctors, in surgery and medical research and brings together world class clinicians, researchers and medical educators to create an innovative training program with a focus on future trends in medicine.

• Alfred Health Solutions (AHS) and its partner Alfred Medical Imaging are an outstanding collection of dedicated radiology and nuclear medicine specialists. Alfred Medical Imaging have experience in neurological, musculoskeletal, interventional, gastroenterological, cancer, breast, respiratory and endocrine disorders and specialise in modern imaging techniques using 3T MRI, High Definition CT, PET/CT, SPECT and Biplane Angiography units.

• Cyclopharm’s wholly owned subsidiary CycloPet operates at MUH and represents Australia’s only commercial Therapeutic Goods Authority (TGA) licensed radiopharmaceutical production centre to be located within a hospital. The MUH site contains a cyclotron and an isotope production facility. Cyclopet’s manufacturing and research facility is dedicated to the production and development of injectable Positron Emission Tomography (PET) radiopharmaceuticals used primarily for cancer, brain imaging and cardiac imaging.

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The Directors of MMI would like to extend a warm welcome to Macquarie University Chief Financial Officer Mr John Gorman and Macquarie University Hospital Chief Executive Officer Ms Carol Bryant as they join the MMI Board. We are confident that their contribution will further strengthen our growing business.

Macquarie Medical Imaging represents a rare opportunity to provide a fully aligned and integrated diagnostic, therapeutic and research platform at Macquarie University Hospital. The expanded alliance also represents a key milestone in Cyclopharm’s mission to continue to develop solutions that improve patient care outcomes.

Regards,

James McBrayer Managing Director and Company Secretary

Contact details:

Mr James McBrayer Managing Director Cyclopharm Limited T: +61 2 9541 0411

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Background

Cyclopharm Limited

Cyclopharm is a radiopharmaceutical company servicing the medical global medical community. The Company’s mission is to enable nuclear medicine and other clinicians with the ability to improve patient care outcomes.

Cyclopharm achieves this objective through the provision of radiopharmaceutical products, Technegas (for lung imaging) and Molecular Imaging / PET radiopharmaceuticals (used in cancer, brain and cardiac imaging). Our customers are nuclear medicine departments located within hospitals and clinics.

Technegas

The Technegas technology is a structured ultra‐fine dispersion of radioactive labeled carbon, produced by using dried Technetium‐99m in a carbon crucible, micro furnaced for a few seconds at around 2,700[o] C. The resultant gaseous substance is inhaled by the patient (lung ventilation) via a breathing apparatus, which then allows multiple views and tomography imaging under a gamma or single photon emission computed tomography (SPECT) camera for the superior diagnosis of pulmonary emboli (blood clots in the lungs).

Positron Emission Tomography (PET)

PET radiopharmaceuticals target specific tissues / organs, concentrate there, and the attached radioisotope emits radiation, which is then detected by a PET or PET / CT gamma (collectively PET camera). These imaging modalities help physicians improve their ability to detect and determine the location, extent and stage of cancer, neurological disorders and cardiac disease. By improving diagnosis, PET scans aid physicians in selecting better courses of treatment, as well as assessing whether treatment is effective or should be changed.

Macquarie University Hospital and the Australian School of Advanced Medicine

Macquarie University Hospital is a major medical precinct within the Macquarie University Research Park to complement the Allied Health teaching services offered by Macquarie University.

The Macquarie University Hospital together with the Australian School of Advanced Medicine are state of the art facilities that delivers health education and research on site.

Macquarie Medical Imaging

Cyclopharm formed a joint venture with Alfred Health Solutions and Macquarie University Hospital to provide all imaging services on‐site at the hospital. The new venture named Macquarie Medical Imaging (“MMI”) represents a rare strategic opportunity to provide a fully aligned and integrated diagnostic, therapeutic and research platform. MMI offers a range of diagnostic radiology, interventional radiology, nuclear medicine and molecular imaging services for inpatient and outpatients.

The combination of state of the art imaging equipment, a GE cyclotron located on the grounds of MUH, leading surgeons, clinicians and academics will ensure that MMI will become the leading centre of imaging excellence.

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