MEMPHASYS LIMITED. — Capital/Financing Update 2011

Jul 24, 2011

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FOR IMMEDIATE RELEASE

Singapore Government Provides Financial & Economic Support for Singapore Plasma Fractionation Project

Sydney, Australia 25[th] July 2011 - NuSep (ASX: NSP) is pleased to report that the Singapore Economic Development Board ( EDB ) has agreed to provide financial and economic support for its Singapore plasma fractionation facility. The EDB is the lead government agency that plans and executes economic strategies that enhance Singapore's position as a global hub for business, investment and talent.

Mr John Manusu, NuSep’s Executive Chairman said, “This is a significant step forward as we now have investment support from the Singapore Government for our Singapore plasma fractionation project. This Government support builds on our business plan to introduce the PrIME Mini Mills in the Asian region.”

Dr Hari Nair, Managing Director of NuSep added that “Once the facility is operational, this investment will reduce the cost of public healthcare to Singapore and Asian countries in general. Fundamentally this will help countries in the region to become self-sufficient in their requirements for plasma proteins with the main demonstrator facility being in Singapore.”

Completion of the Plasma Fractionation Facility in Singapore will validate the PrIME process and open up the US$1bn Asian Therapeutic Plasma market to NuSep.

ENDS

For more information please contact:

Contact: Prakash Patel Company Secretary +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. NuSep recently acquired BioInquire which developed the ProteoIQ software enabling NuSep to offer a total Proteomics solution from Fraction to Function . 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 including the world’s first IVF sperm separation device. In short NuSep has redefined the BioSeparations market through innovation and simplification.

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

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

NuSep Holdings Ltd 324 Burns Bay Rd Lane Cove NSW 2066

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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 and is expected to undergoing clinical trials later this year.

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• Proteomics Software – NuSep offers the unique ProteoIQ software for the analysis of complex mass spec samples. This software is also designed to identify bio markers.

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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 SingaPharm

SingaPharm is a Singapore based biotech company that has developed a disposable procedure for the processing of plasma proteins. SingaPharm is currently a wholly owned subsidiary of NuSep Holdings Limited (ASX: NSP). SingaPharm’s 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.

This process is flexible and modular compared with the large scale inflexible processing facilities of existing fractionators in US and Europe. The process has increased product yield relative to the existing process with increased product safety. The flexible nature of the PrIME technology also provides SingaPharm with access to plasma volumes that previously did not meet the criteria for larger scale processing facilities. Further, SingaPharm’s process can produce multiple plasma products in hours compared to days, which is required by the current manufacturers.