MEMPHASYS LIMITED. — AGM Information 2007

Nov 20, 2007

ANNUAL GENERAL MEETING 21 November 2007

Welcome by Chairman Nicholas Caré

Meeting Business

A. Financial Report

B. Resolutions

1) Adopt the Remuneration report 2a) Re-elect Mr Nicholas Caré as a Director 2b) Re-elect Mr John Manusu as a Director

3) Ratification of previous Option Issues

Managing Director’s Report John Manusu

NuSep Company Goal

Overview

• NuSep created in November 2006 ► Spin out from Life Therapeutics

• 2006/07 foundation year to establish our core competencies

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• Technology

• Distribution

• Customers

2006/07 Achievements

• In less than 12 months company has:

• Launched NuBlu gel range and first biological product

• Listed on the ASX

2006/07 Achievements Cont.

• Established a global distribution network incorporating a web based sales and fulfilment system

• Commenced clinical trials of the Sperm Sorter

2006/07 Achievements Cont.

• Established a US and Australian sales force

► Acquired a16% stake in Minomic International and first right to negotiate manufacturing and marketing of a Prostate Cancer and Type 2 Diabetes diagnostic product

2006/07 Financial Results

• Main 06/07 Results

• $0.9 million Revenue

• $4.9 million loss

• Incorporates one-off costs associated with:

• Demerger from Life Therapeutics

• ASX listing

• Establishing global distribution network

2007/08 Goal

Our Goal

‘To Achieve breakeven on a monthly basis by the end of this financial year and a maiden profit the following year’

Steps to Profitability

• Increase gel sales

• Expand sales force

• Continuing manufacturing efficiency

• Promotions to establish NuSep brand and promote sales in US, Europe and Australasia

• Global Launch of MF10

• Sales from February 2008

• Expand biological products offering

• Increase reagents range

• Develop prostate cancer and Type 2 diabetes diagnostic kits

• Acquire new products via acquisition

Milestones

CS10 - Sperm Sorter

• Gradiflow based device used to prepare sperm prior to fertility treatment

• Large and growing market

• 3m babies born via art since 1978[1]

• 1m ART cycles performed p.a. worldwide[2]

• Australian IVF market worth $170m pa[3]

• US IVF market worth around $3b pa[4]

• Potential to screen for DNA damage is unique

• Initial clinical trial for IVF to be completed Dec 2007 (prototype)

• Subsequent trials to assess impact on sperm and relevance to IUI (production model)

• Market release 2009

MF10 - Membrane Fractionation for Proteomics

• Sales launch in Australia and US Feb 2008

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• Gradiflow lab instrument to separate complex biological samples into multiple fractions

• Extensive beta trials of prototype units

• Pre-production and standards compliance completed by Dec 2007

• Growing market

• US Proteomics market worth $59m in 2007[5]

• Forecasted growth approx 70% to $103m by 2011[6]

• Sales revenue from instrument and on-going consumable sales

Growth Strategy

• Seeking growth through acquisition of products and/or companies

• Acquisition must fit with present business model:

• Relevant to BioSeparations market

• Compliment NuSep technology and capabilities

• Compatible with distribution system

• Offer revenue growth

• Target - Monoclonal Antibodies products and companies

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Why Monoclonal Antibodies?

• Rapidly growing market – set to double in next 5 years

• Aggregate sales $US14b in 2005

• NuSep to target reagent and diagnostic markets

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mAb Market
$US 14b
Diagnostic
20%
Reagents NuSep Target
3%
Therapeutic
77%
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Questions

Important Notice

This presentation is not and does not form part of any offer, invitation or recommendation in respect of securities. Any decision to buy or sell NuSep securities or other products should be made only after seeking appropriate financial advice. Reliance should not be placed on information or opinions contained in this presentation and subject only to any legal obligation to do so, the Company does not accept any obligation to correct or update them. This presentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor.

To the fullest extent permitted by law, NuSep and its affiliates and their respective officers, directors, employees and agents, accept no responsibility for any information provided in this presentation, including any forward looking information, and disclaim and liability whatsoever (including for negligence) for any loss howsoever arising from any use of this presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this.

References

1. International Committee for Monitoring Assisted Reproductive Technologies (ICMART), data presented to the European Society of Human Reproduction and Embryology 2006 Annual Conference as quoted in BioNews, 28 June 2006.

2. As above

3. AIHW National Perinatal Statistics Unit, Report “Assisted Reproduction in Australia and New Zealand 2004” and news article from The Age, May 6 2005.

4. Review by Nancy Green of Deborah Spar’s book, “The Baby Business”, Harvard Business School Press, USA, 2006.

5. Jonathon Witonsky, ‘Proteomics Sample-Prep Market is Ripening’, Genetic Engineering & Biotechnology News, 15 Sept 2007, p 18.

6. As above