Circadian Scientific Advisory Board Chairman, Professor Kari Alitalo, Wins Prestigious Award for Biomedical Research

Wednesday 6th May 2009 - Circadian Technologies Limited (ASX:CIR) has announced today that the Chairman of its subsidiary Vegenics' Scientific Advisory Board, Professor Kari Alitalo , has received the InBev-Baillet Latour Health Prize 2009, a prestigious annual award for outstanding applied biomedical research.

Professor Alitalo, a researcher at the University of Helsinki, is to share the award with his Finnish collaborator, Professor Seppo Ylä-Herttuala of the University of Kuopio , for their joint research on cancer and cardiovascular disorders.

The InBev-Baillet Latour Health Prize is regarded as the most important scientific prize in Belgium and is awarded annually for contributions in biomedical research, particularly its practical application. The prize includes a 200,000 Euro payment. Previous winners of this award include Nobel Laureate in Medicine Sir James W. Black.

In granting the award to Dr. Alitalo, the InBev-Baillet Latour Fund cited his "cloning and characterization of the first specific growth factor receptor of the lymphatic system, VEGFR-3," and his demonstration that VEGFR-3 plays a key role in the spread (metastasis) of tumour cells via the lymphatic system. This work has inspired the development of novel treatments for cancer that act by blocking the spread of the disease through the lymphatics.

Circadian Technologies owns world wide patent rights to develop Professor Alitalo's work covering VEGFR-3 for biomedical applications through a joint venture company it originally formed with the University of Helsinki (its commercial arm Licentia) and the Ludwig Institute for Cancer Research (LICR). This company, Vegenics, is now wholly owned by Circadian and LICR and Licentia continue to carry interests through their shareholdings in Circadian. Circadian currently has three biologics-based products in preclinical development for cancer treatment based upon this and other VEGF related intellectual property.

Circadian CEO Robert Klupacs said: "We congratulate Professor Alitalo on receiving this prestigious award, which clearly reflects the major contribution that he has made to the fields of angiogenesis and lymphangiogenesis. The award is another significant validation of the importance of Professor Alitalo's work. At Circadian, we are committed to extending his findings to the development of novel therapies to benefit people suffering from cancer and other serious diseases."