Life Therapeutics Limited

Life Therapeutics (ASX: LFE) today announced it has secured funding facilities of approximately A$35.3 million with US based investment fund Cornell Capital Partners Offshore LP.

Life Therapeutics (ASX: LFE) announced today that it has reduced its total debt by A$4.5m (US$3.4m) following the conversion by Indus Capital of its remaining Tranche 1 Convertible Notes into 4,292,500 Life Therapeutic shares.

Life Therapeutics (ASX: LFE) wishes to advise that it will spin out the Gels and Laboratory Gradiflow Divisions as a separately listed public company in line with comments made at the November 2005 AGM.

Life Therapeutics (ASX: LFE) announced today that it has increased its forecast for the FY 2006/07 as a result of a significant expansion and planned expansions in its United States operations.

Life Therapeutics (ASX: LFE) has been granted an FDA license to collect hyperimmune plasma used to combat infection caused by the influenza virus. The FDA approval process, originally scheduled to take 12 months, was completed in 97 days, over seven months ahead of schedule.

Life Therapeutics (ASX: LFE) announced today that all the Directors and number of Executives purchased 890,000 shares in the Company yesterday.

Life Therapeutics (ASX: LFE) announced today it has signed a four year contract with a major European fractionator to supply hyperimmune plasma against the Cytomegalo virus (CMV).

Life Therapeutics (ASX: LFE) announced today that the company has started an early-stage project to develop a specialty immune globulin for influenza. This is a multi-year program to immunize selected donors with the flu vaccine and collect their hyperimmune blood plasma for use in a therapeutic drug to combat infection caused by the influenza virus.