MEMPHASYS LIMITED. — Capital/Financing Update 2013

Jan 23, 2013

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FOR IMMEDIATE RELEASE

NuSep divests non-Core ProteoIQ software

Sydney, Australia 24[th] January 2013– NuSep (ASX:NSP) wishes to advise the market that it has received an unsolicited offer to acquire the non-core assets of its ProteoIQ software business.

The Company has negotiated the sale of this software with the Palo Alto, California based PREMIER Biosoft. PREMIER Biosoft is a leading provider of software solutions for life science market.

NuSep has received a deposit for this sale and PREMIER Biosoft is currently undertaking its final due diligence. It is expected that the transaction will be completed by the end of February 2013.

NuSep’s Managing Director Prakash Patel said, “This transaction frees up cashflow from the non-core software division and allows the Company to apply these funds on its core Consumables and PrIME related businesses including SpermGen”.

PREMIER Biosoft’s CEO Arun Apte said “For the rapidly growing proteomics market, ProteoIQ is a strategic fit with PREMIER Biosoft's existing mass spec product offering and helps consolidate our position as a leader for providing informatics tools for mass spectrometry”.

ENDS

For more information please contact:

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

Shonali Paul PREMIER Biosoft +650 856 2703 shonali@premierbiosoft.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.

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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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 the PrIME[1] technology. This PrIME technology has produced a number of world firsts including the world’s first IVF sperm separation instrument. 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.

About PREMIER Biosoft

Based in Palo Alto, California, PREMIER Biosoft was founded in 1994. The company is led by computer scientists and biologists dedicated to producing cutting-edge intuitive software for research in life sciences. The company's goal is to study the most recent innovations in life sciences and translate them into software products to aid research. Follow PREMIER Biosoft on Twitter @PREMIERBiosoft and on Facebook.

For more information about PREMIER Biosoft please visit the company’s website www.premierbiosoft.com

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