Alchemia Announces Departure of Chief Executive Officer

BRISBANE, AUSTRALIA--(Marketwired - Nov 10, 2014) - Alchemia Limited, (ASX: ACL) a drug discovery and development company, today announced the departure of Thomas Liquard as Chief Executive Officer.

In the interim, Dr. Tracie Ramsdale, current Non-Executive Director and former Chief Executive Officer of Alchemia, will be assuming an Executive Director role to help Alchemia during this transition.

Alchemia thanks Mr. Liquard for his efforts on behalf of the company and wishes him well for the future.

About Alchemia Limited

Alchemia is a drug discovery and development company marketing fondaparinux, an FDA approved injectable antithrombotic, in the US as well as in other markets via partner Dr. Reddy's Laboratories. The Company has an oncology pipeline with several ongoing preclinical and development programs through its proprietary HyACT drug delivery platform, which targets anti-cancer drugs to solid tumours. HA-Irinotecan is in two Phase II investigator-sponsored trials, one of which is in collaboration with Merck Serono combining HA-Irinotecan with Erbitux® (cetuximab). In October 2014, Alchemia announced that its Phase III trial of HA-Irinotecan in Metastatic Colorectal Cancer did not meet its primary endpoint of statistically significant improvement in progression-free survival. In March 2014, Alchemia also announced the in-licensing of two new pre-clinical oncology compounds targeting the FAK pathway. Alchemia is also exploring additional small molecule drug discovery targets via an internal discovery platform VAST, based on the Company's deep chemistry expertise. The VAST technology is being developed in collaboration with leading academic institutions and is partnered with AstraZeneca AB.

Erbitux® is a trademark of Merck KGaA.