PYC THERAPEUTICS LIMITED — Major Shareholding Notification 2011

Jun 9, 2011

==> picture [309 x 112] intentionally omitted <==

The Company Announcements Platform ASX Ltd Sydney NSW 2000

PHYLOGICA ANNOUNCES NAOS ASSET MANAGEMENT BENEFICIAL SHAREHOLDING 10.2%

PERTH, AUSTRALIA: June 10, 2011 – Phylogica Ltd (ASX: PYC, XETRA: PH7), a leading Australian peptide drug discovery company, announced today that NAOS Asset Management has confirmed its ownership of 41,336,582 shares in Phylogica (10.2% of Phylogica’s issued share capital) via Citicorp Nominees Pty Ltd, which made a substantial shareholder disclosure on May 20, 2011 in relation to 46,013,079 shares.

NAOS Asset Management is an award winning boutique investment firm that specialises in investing in undervalued smaller companies through the NAOS Emerging Companies Long Short Equities Fund. The Fund was named the best performing hedge fund in the Asia Pacific Region for 2009 by Bloomberg and is a preeminent investment fund in the Australian Life Science industry.

Phylogica’s CFO, Nick Woolf, said: “We are delighted to have NAOS Asset Management as a major shareholder in Phylogica. NAOS has a strong track record of picking top-performing, small-cap stocks and their involvement in Phylogica is, in our view, testament to the potential value to be realised from our Phylomer drug discovery platform.”

-ends-

For further information, please contact:

Nick Woolf CFO & VP, Corporate Development Tel: +61 417 986 005 nwoolf@phylogica.com

Rudi Michelson Monsoon Communications Tel + 61 3 9620 3333

About Phylogica

Phylogica Limited (ASX: PYC) is a biotechnology company based in Perth, Australia, and Oxford, UK, with a world-class drug discovery platform harnessing the rich biodiversity of nature to discover novel peptide therapeutics. The Company was incorporated in 2001 as a spin out from the Telethon Institute for Child Health Research (Perth, Australia) and the Fox Chase Cancer Centre (Philadelphia, USA). The Company’s drug discovery platform is based on its proprietary Phylomer[®] libraries of natural peptides, which have been optimised by evolutionary selection to have stable drug-like structures. Phylogica offers fully integrated drug discovery services to the pharmaceutical industry utilising its Phylomer[®] libraries and proprietary screening technologies. Its current partners include Roche, MedImmune (the worldwide biologics unit of AstraZeneca) and Pfizer.

PO Box 8207, Subiaco East, Western Australia 6008 Suite 3, 257 York Street, Subiaco, Western Australia 6008 Tel: +61 8 9382 8888 Fax: +61 8 9382 www.phylogica.com ABN 48 098 391 961