Immuron Ltd — Regulatory Filings 2007

May 22, 2007

Company Announcement

Anadis receives \$480k Government grant for biohazard "Ectoplasm" project

23 May 2007

Anadis Limited (ASX:ANX) announced today a grant for \$480,000 from the Federal Government to fund development of its revolutionary antibody-based method for biohazard detection, containment and decontamination, known as Project Ectoplasm. This project is a manifestation of Anadis' unique approach to the harvesting of antibodies, allowing for their economic use in the field. The project is expected to yield results that could be deployed in the field worldwide within 2 years.

The funding will come from the Research Support for Counter Terrorism (RSCT) Programme administered by the National Security Science and Technology Unit within the Department of the Prime Minister and Cabinet and the CBR Capability Research and Development Fund administered by Emergency Management Australia, a division of the Attorney General's Department.

Project Ectoplasm's objective is to allow safe and effective response by fire, medical and other emergency responders to potential terrorist bio-incidents. An outline of the project was announced to the Australian Stock Exchange on 22 March 2007 ("Anadis to pursue Project Ectoplasm")

In essence, emergency workers will spray a gel on to surfaces at an affected site area. containing a potential biological hazard. The antibodies in the gel will assist to decontaminate the area. The gel is formed when the antibody preparation and the polymer concentrate – in either powder or liquid form – is mixed with water.

The grant will fund the early development of a prototype hydrogel/antibody "on-thespot" assay capacity to contain, analyse and decontaminate various biohazards. The gel will be utilised by emergency first responders mainly fire brigade at suspected contamination sites. The technology can be further extended to address other Chemical, Biological and Radiological (CBR) hazards.

This project is the coordinated effort of Anadis Limited, Emergency Management Australia (EMA), the National Security Science & Technology Unit (NSSTU) within the department of the Prime Minister and Cabinet, the Defence Science and Technology Organisation (DSTO), and the Metropolitan Fire Brigade, Melbourne. Anadis is the only commercial organisation in this partnership and it is expected to vield a product with global impact

The project aims to enhance Australia's national counter-terrorism capabilities in areas such as decontamination of equipment, facilities and the environment in the event of a CBR incident.

Dr Zeil Rosenberg, Anadis CEO, said: "This is an important opportunity for Anadis - a leader in the production of specific antibodies with its commercially-proven production systems – to develop this program which will use relatively low-cost, rapidlymanufactured antibodies in a non-conventional application. We believe this will be an important weapon for emergency workers worldwide in all-hazards preparedness."

For further information contact:

Dr Zeil Rosenberg (US) - CEO Email: zeil.r@anadis.com.au Tel: +1 201 750 4799

Dr Grant Rawlin - Head of R&D Email: grant.r@anadis.com.au Tel: +61 3 9358 6388

Arie Nudel - Investor Relations Email: arie.n@anadis.com.au Tel: +61 3 9358 6388

Richard Allen - Media Email: richard@oxygenpr.com.au Tel: +61 3 9915 6341

About Anadis Limited:

Anadis is a biotechnology company headquartered in Melbourne. Victoria and listed on the Australian Stock Exchange listed (ASX Symbol: ANX). The Company is strongly research-based and specialises in developing fast-acting "passive" immunity solutions to a range of diseases caused by bacteria and viruses. Naturally-derived polyclonal antibodies and bioactives produced on a large scale through hyperimmunised dairy cattle are a key element of the Company's extensive and proprietary technology and products.

Products include:

• $\bullet$ Travelan, which significantly decreases the risk of the medical condition known as travellers' diarrhoea and the symptoms of gastrointestinal disorders caused by bacterially-contaminated food and water. Travelan has been launched and is available in several countries
• EVProtec a preventative product containing antibodies against Enterovirus 71, a virus which $\bullet$ causes epidemics of a debilitating polio-like illness, as well as hand, foot and mouth disease, in Southeast Asia. The product is in the pre launch stage.

Research programs include:

• $\bullet$ The "Ectoplasm" Program A project in conjunction with Australian emergency response agencies developing a system for the containment and decontamination of hazardous materials.
• A set of Biodefence and Respiratory Protection technologies, focused on short-term immediate protection from airborne infections such as anthrax and plague.
• The Influenza Program utilising antibodies and their fragments as inhalants for the prevention and treatment of influenza, including avian flu.
• Bio-Shield 10 a range of "bio-shielding" technologies which shield orally administered proteins $\bullet$ from degradation during passage through the stomach. Initially targeted for use in the probiotic market, Bio-Shield 10 is the basis of a novel oral and respiratory tract delivery system being developed for the next generation of vaccines and therapeutic proteins.

ANADIS - Antibodies against Disease

Visit our websites: www.anadis.com.au and www.travelan.com