Arana Therapeutics Performance Share Plan

View announcement at arana.com

Monday, 14 January 2008 Sydney, Australia:
Biotechnology company Arana Therapeutics Limited (ASX: AAH, AIM: AAHx) today announced that it had acquired 171,606 shares at a cost of $199,139 in on-market transactions to fulfil allocations of shares to certain employees under the rules of the performance share plan.

Arana performed at the 65th percentile in relation to the plan for the period 1 January 2005 to 31 December 2007, resulting in a 78.55% allocation to participating employees.

About Arana Therapeutics:
Arana Therapeutics (ASX: AAH; AIM: AAHx) is an international biopharmaceutical company formed through the merger of Peptech and EvoGenix in August 2007. The company uses superior technology to develop next generation drugs that will improve the lives of patients with inflammatory diseases and cancer.

Arana Therapeutics’ innovative engineering technologies provide the basis for clinical development in the antibody space, a market which draws on high demand. With a market capitalisation of around A$250 million and solid cash resources, Arana Therapeutics has the financial stability and management expertise to accelerate its clinical programs, and is on track to have at least 3 clinical stage assets within three years.

Arana is listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (AIM).

The company’s pipeline consists of four lead drug programs: ART621 to treat severe rheumatoid arthritis and other inflammatory diseases; ART010 to treat osteoporosis and bone cancer; ART104 to treat solid tumours in colorectal cancer; and ART150 for lung cancer and melanoma. Additionally, the company has earlier stage products in development for the treatment of a range of conditions including age related macular degeneration, psoriasis, colorectal cancer, and leukaemia.

Arana has recurring revenues from commercial and development partnerships with six international companies including GSK, CSL, Centocor (J&J) and Abbott Laboratories.

For further information: www.arana.com

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