MEMPHASYS LIMITED. — Capital/Financing Update 2013

May 14, 2013

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FOR IMMEDIATE RELEASE

PrIME Update

Sydney, Australia 15[th] May 2013–NuSep (ASX:NSP) The Board would like to update the market on recent developments in the process to fund PrIME Biologics Singapore plasma fractionation facility.

As previously advised to the market, PrIME signed off on an agreement to acquire a cGMP facility in Singapore in August 2012. This agreement became effective when PrIME signed a lease for the facility.

In November 2012 NuSep shipped its pilot scale cGMP PrIME unit to Singapore. PrIME undertook its first 3 cGMP pilot scale batch runs of Albumin in December 2012. The final of these runs was attended by personnel from the Singapore Health Sciences Authority ( HSA ). HSA is the body who PrIME will be applying to for cGMP registration of its Singapore facility.

In Sydney NuSep was undertaking further developmental work to optimise the separation protocols for the fractionation of IVIG, Albumin & FVIII. As a result of this work the number of PrIME cartridges required to undertake a 250L batch of human plasma was reduced from 25 to 15 cartridges. This will reduce the cost and time to manufacture a 250L batch of human plasma, improving PrIME’s operating margins once the facility commences operating.

Separately, PrIME is also negotiating with a number of parties to establish replications of PrIME’s Singapore Fractionation facility in countries outside of Singapore. These include the negotiations previously reported with a company called ABS Novacell to establish a PrIME facility in India. These and other negotiations are proceeding.

Throughout this period NuSep has been negotiating with potential investors of the A$15m of funding required to bring the first products to market. As NuSep’s total market capitalisation is under A$10m it is not practicable to raise the required funds from NuSep’s shareholders without substantial dilution. As a result the funding will be undertaken via PrIME. This is a general funding model that NuSep intends to use to fund each of the applications of the PrIME technology that it develops. In return for this A$15m of funding the investors will acquire a 30% interest in PrIME. A further 10% of PrIME will be issued to Luye in return for the Singapore cGMP facility, leaving NuSep with a 60% ownership of PrIME. The A$50m valuation of PrIME is an agreed valuation which is further supported by an independent valuation of PrIME commissioned by NuSep in May 2012. This independent valuation does not take into account the achievements noted above as they have all occurred post the valuation.

There has been a decided increase in PrIME funding interest since the first pilot scale separation of Albumin in December 2012. As developments occur the Board will keep shareholders informed.

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 324 Burns Bay Rd Lane Cove NSW 2066

Postal Address P.O. Box 823 Lane Cove NSW 1595

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*ENDS*

For more information please contact:

Contact: Prakash Patel Managing Director +61 2 8415 7300

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 was released in 2009 and 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. NuSep has a 90% shareholding in PrIME Biologics. 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