Opthea Ltd — Capital/Financing Update 2013

Mar 7, 2013

ASX and Media release

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8 March 2013

Circadian grants world-wide licence to Santa Cruz Biotechnology Inc to market research products

Circadian Technologies Limited (ASX:CIR, OTCQX:CKDXY) announces that its wholly owned subsidiary, Vegenics Pty Ltd, has entered into a non-exclusive worldwide licence agreement with Santa Cruz Biotechnology Inc, one of the world’s leading providers of research reagents to market antibodies to Circadian’s proprietary molecules VEGF-C, VEGF-D and VEGFR-3.

As part of the licence agreement Santa Cruz will make an up-front payment and pay royalties on sales.

Circadian owns extensive intellectual property rights for the use of VEGF-C, VEGF-D and VEGFR-3 for diverse therapeutic applications and diagnosis. Circadian’s internal product programs are focused on the development of novel therapeutics for cancer and eye disease.

Robert Klupacs, CEO of Circadian commented, “We are committed to maximising the potential of our intellectual property through relationships with leaders in their field. Santa Cruz Biotechnology is a world leader in the development of products for the biomedical research market, particularly research antibodies. They have identified the increasing importance of VEGF-C, VEGF-D and VEGFR-3 as key angiogenic proteins and the need to provide high quality reagents to measure and/or detect these proteins to the international research and drug discovery community. This partnership is also another example of the diverse range of commercial opportunities and value of our VEGF intellectual property.”

Company enquiries

Media enquiries – international

Robert Klupacs Lauren Glaser Managing Director - Circadian The Trout Group LLC Tel: +61 (0) 3 9826 0399 or 251 Post Street, Suite 412 robert.klupacs@circadian.com.au San Francisco, CA 94108 Tel +1 215 740 8468 lglaser@troutgroup.com

Level 1 10 Wallace Avenue Toorak Victoria 3142 Australia T +61 (3) 9826 0399 F +61 (3) 9824 0083 www.circadian.com.au

ABN 32 006 340 567

About Circadian Technologies Limited

Circadian (ASX:CIR; OTCQX:CKDXY)) is a biologics drug developer focusing on cancer, cancer related and ophthalmic disease therapies. It controls exclusive worldwide rights to a significant intellectual property portfolio around Vascular Endothelial Growth Factor (VEGF)-C and -D. The applications for the VEGF technology, which functions in regulating blood and lymphatic vessel growth, are substantial and broad. Circadian’s internal product development programs are primarily focused on developing VGX-100 (a human antibody against VEGF-C) as a treatment for lymphedema resulting from breast cancer treatment and solid tumours, in particular glioblastoma and colorectal cancer, as well as developing VGX-300 (soluble VEGFR-3) for ‘back of the eye’ disease such as wet Age Related Macular Degeneration. Circadian has also licensed rights to some parts of its intellectual property portfolio for the development of other products to ImClone Systems, a wholly-owned subsidiary of Eli Lilly and Company, including the anti-lymphatic antibody-based drug IMC-3C5 targeting VEGFR-3.

About Santa Cruz Biotechnolgy Inc

Santa Cruz Biotechnology, headquartered in Dallas Texas, is a world leader in the development of products for the biomedical research market. Over the past twenty years, the Company has focused on the ongoing development of research antibodies, biochemicals, labware and more recently has expanded into animal health care products. Santa Cruz Biotechnology has the highest commitment to quality and customer service.

Inherent risks of Investment in Biotechnology Companies

There are a number of inherent risks associated with the development of pharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialisation and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology. Companies such as Circadian are dependent on the success of their research and development projects and on the ability to attract funding to support these activities. Investment in research and development projects cannot be assessed on the same fundamentals as trading and manufacturing enterprises. Thus investment in companies specialising in drug development must be regarded as highly speculative. Circadian strongly recommends that professional investment advice be sought prior to such investments.

Forward-looking statements

Certain statements in this ASX announcement may contain forward-looking statements regarding Company business and the therapeutic and commercial potential of its technologies and products in development. Any statement describing Company goals, expectations, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the process of discovering, developing and commercialising drugs that can be proven to be safe and effective for use as human therapeutics, and in the endeavour of building a business around such products and services. Circadian undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Actual results could differ materially from those discussed in this ASX announcement.