MEMPHASYS LIMITED. — Capital/Financing Update 2012

Aug 27, 2012

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FOR IMMEDIATE RELEASE

NuSep provides update on PrIME Developments and impact on results to 30 June 2012

Sydney, Australia 28[th] August 2012 - NuSep (ASX: NSP) wishes to update the market on PrIME Biologics developments and decisions taken by the NuSep Board relating to the results for the year ended 30 June 2012.

The Board of NuSep Holdings is evaluating a number of funding proposals for PrIME Biologics Pte Ltd. The Board expects to provide a further update as part of the full year results.

The recent decision to restructure NuSep around the applications of the PrIME technology has caused the Board to write off A$3.1m of non PrIME assets including the BioInquire investment. The Board is of the view that it should focus on only those assets which can create significant value for shareholders. This write off will be incorporated in the accounts to 30 June 2012 and together with depreciation & amortisation of A$0.7m will result in NuSep reporting a loss of approximately $4.9m. While the accounts are not finalised, NuSep’s operational result has improved over the previous full year result.

It should be noted that while the Board has taken the decision to write off the BioInquire investment the business itself has continued to improve and is currently operating at a breakeven level. Should the results continue to improve to the levels projected by the original shareholders of BioInquire at the time of the acquisition then the Company has the option to revalue this asset at that future time.

NuSep has also not brought to account the value of the PrIME Biologics investment into its 30 June 2012 accounts as the S$6m (A$4.6M) investment occurred after 30 June 2012. The Board will revisit this valuation as part of its 31 December 2012 results.

Separately, NuSep has also released a number of videos showing sections of the therapeutic plasma facility that it recently acquired in Singapore. These videos can be found at:

http://www.nusep.com/corporate-news-profile.php?ID=16

As part of this acquisition NuSep acquired both the fit out and all the equipment required to process therapeutic plasma, excluding the PrIME units. The equipment that NuSep acquired as part of this transaction was originally purchased for S$15m (A$11.4m) in 2000. Most of this equipment is in an ‘as new’ state and will meet PrIME’s operational needs for the foreseeable future.

Further, once the above financing is finalised, NuSep Australia will sell the PrIME units to PrIME Biologics for S$1.1m (A$825,000) in the current financial year. There will also be

Contact Details Telephone +61 2 8415 7300 Facsimile +61 2 8415 7399

Email info@nusep.com Web www.nusep.com 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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an ongoing income stream to NuSep Australia through the supply of the membranes to PrIME. Once the plant becomes fully operational this will generate an S$4.1m (A$3.1m) pa income stream to NuSep.

ENDS

For more information please contact:

Contact: Swapna Keskar Company Secretary +61 2 8415 7300 keskar@companymatters.com.au

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.

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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• 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 PrIME Biologics Pte Ltd

PrIME Biologics is a Singapore based biotech company that has developed a disposable procedure for the processing of plasma proteins. Prior to this announcement PrIME Biologics was a wholly owned subsidiary of NuSep Holdings Limited (ASX: NSP). 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.

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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.