MEMPHASYS LIMITED. — Capital/Financing Update 2013

Dec 23, 2013

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FOR IMMEDIATE RELEASE

PrIME receives Xeraya Board conditional approval for Funding

Sydney, Australia 24[th] December 2013 – NuSep Holdings Ltd (ASX:NSP). As previously announced by the Company on 29[th] October 2013, NuSep’s subsidiary PrIME Biologics Pte Ltd ( PrIME ) had signed a formalized, non-binding term sheet with Xeraya Capital Labuan Ltd (“ Xeraya ”). Xeraya via an affiliate company is considering to invest up to SGD15m in Preferred Stocks of PrIME (“Proposed Investment”), subject to customary due diligence. Xeraya will be the cornerstone investor in PrIME, which will include funds from other investors.

NuSep is now pleased to announce that the Board of Xeraya has approved the Proposed Investment for an affiliate company subject to the completion of due diligence, legal review, approval process and documentation that is satisfactory to Xeraya.

Among the pre-conditions that will need to be satisfied prior to this Proposed Investment being made by Xeraya is NuSep agreeing, subject to shareholder approval, to demerge PrIME from NuSep. While the final valuation of PrIME has yet to be agreed, NuSep shareholders will either directly or indirectly receive at least 50%, subject to final valuations and corresponding changes, of the shareholding in PrIME following the demerger.

As part of this process PrIME is arranging some interim bridging funding. Also, as a follow-on to the AGM discussion that took place on 29[th] November 2013, NuSep shareholders can expect an invitation to an EGM in early 2014 for to vote on the PrIME demerger approval.

About Xeraya

Xeraya Capital Labuan Ltd (Company No.: LL05253) (“Xeraya”) is a company incorporated in the Federal Territory of Labuan, Malaysia under the Labuan Companies Act, 1990 and carries on the business of investment management services with respect to venture capital and private equity investments in the life sciences sector as well as providing management and administrative support services and resources to investment funds. Xeraya is managing a broad portfolio of investments, and is actively pursuing and evaluating additional investments exclusively in Life Sciences.

Xeraya is a wholly owned subsidiary of Xeraya Capital Sdn Bhd (Company No.: 664217M). (www.xeraya.com).

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Contact Details Email info@nusep.com Telephone +61 2 8415 7300 Web www.nusep.com Facsimile +61 2 8415 7399 ABN 33 120 047 556

NuSep Holdings Ltd 30 Richmond Rd Homebush NSW 2140

Postal Address P.O. Box 2202 Homebush West NSW 2140

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For more information please contact:

Contact: Prakash Patel Managing Director +61 2 8415 7300 prakash.patel@nusep.com

About NuSep

NuSep (ASX: NSP) is a publicly listed life sciences company that sells products into the global BioSeparations market. The company has offices in both Sydney Australia and Atlanta, USA.

With a 30 year heritage in biological separations, NuSep has forged a world class reputation for its innovative yet simple biological separation techniques based on its PrIME[1] technology. The PrIME technology has produced a number of world firsts including the world’s first IVF sperm separation device. In short NuSep has redefined the BioSeparations market through innovation and simplification.

NuSep’s world renowned research team has developed an extensive portfolio of patented products. In all, NuSep currently manufactures, distributes and sells 55 products to customers in the USA, Europe, Asia and Australia.

NuSep Products:

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• Gels – NuSep manufactures and sells precast gels including the innovative nUView Gels, which can be visualised 2 minutes after use.

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• Separation Instruments – NuSep has developed two unique biological separation instruments. The ProteomeSep can separate biological samples into 8 fractions for use in the proteomic market. The SpermSep separates sperm for fertility treatments such as IVF.

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• Biological Products – NuSep supplies research grade biological products manufactured using its unique separation technologies. These products include human IgG and Albumin .

For more information about NuSep please visit the company’s website www.NuSep.com

About PrIME Biologics Pte Ltd

PrIME Biologics is a Singapore based biotech company that has developed a disposable therapeutic plasma manufacturing process based on NuSep’s PrIME Technology. PrIME Biologics process is based on the Pr eparative I solation by M embrane E lectrophoresis (PrIME) technology developed by NuSep. PrIME provides disposable modular processing that is ‘electronically’ driven membrane fractionation.

The PrIME process increases product yields to over 90% relative to the existing process 50% while increasing product safety. The PrIME has been shown to remove virus, bacteria, endotoxins and prions which cause ‘Mad Cow Disease’. Further, PrIME Biologics process can produce multiple plasma products in hours compared to days, which is required by the current manufacturers.

The initial application for the PrIME process will be the Currently Unprocessable Plasma which represents approximately 50% of all the plasma collected in many Asian countries.

1 PrIME stands for Pr eparative I solation by M embrane E lectrophoresis