Board Changes Completed
As communicated to shareholders in the Company’s announcement of 7 January 2008, Virax was restructuring its Board so as to bring the requisite experience required for the next stage of the Company’s development. This process has now been completed with the appointment yesterday of the following non-executive directors:

• Mr. Michael Humphris, Chairman,
  
• Mr. Ian Pyman, and
  
• Dr. Albert Ting

Mr. John Morrison replaces Mr. Richard de Lautour as Company Secretary.

The Company’s new Chairman Mr. Michael Humphris said “I would very much like to thank outgoing and recent Directors of the company including Dr. Tom Quirk, Dr. David Beames, Mr. John Stonier, Mr. John Chambers and the outgoing Company Secretary Mr. Richard de Lautour for their long commitment and contribution to the Company.”

“It is my belief that there is considerable value in the Company that is available in an appropriate corporate transaction. My new Board members and I look forward to working with Dr Larry Ward (CEO), Mr John Morrison (CFO and Company Secretary) and the company’s staff to implement an appropriate corporate transaction as noted in the Prospectus.”


Extension of Rights Issue Closing Date – Friday, 8 February 2008
Also, the Company resolved yesterday to extend the closing date for the Rights Issue to 5.00pm Friday, 8 February 2008. This will permit Mr. Humphris as the incoming Chairman to communicate with shareholders during the currency of the Rights Issue.

As communicated to shareholders on 7 January 2008, the company has finalised Shortfall Placement Agreements for $1.25 million – therefore satisfying the Minimum Subscription for the Rights Issue.


About Virax
Virax, based in Melbourne, Australia, is a biopharmaceutical company engaged in the discovery and development of novel immunotherapeutic products for the treatment of cancer, and chronic infectious diseases. The Company’s lead product, VIR201, an HIV/AIDS immunotherapeutic (therapeutic vaccine), recently cleared by the U.S. FDA to begin Phase II trials, has completed two successful clinical trials in Australia with additional international studies planned. The Company has also submitted an application to the South African regulatory authority (MCC) to conduct a Phase I/IIa trial of VIR201. Funding for the African trial has been contributed by a consortium of global and South African resource companies led by BHP Billiton.

In March 2007 Transgene (Eurolist Paris: FR0005175080) executed a Licence Agreement with the Company for access to Co-X-Gene™ technology for use in two of Transgene’s immunotherapeutic products TG4001 – treatment for pathologies relating to human papilloma virus (HPV) infection that can lead to cervical cancer - and TG4010 – a treatment for non small cell lung cancer. This was reported to the ASX in the Company’s announcement of 13 March 2007 and is referred to as the “Transgene Sub-licence”. Both TG4001 and TG4010 are in advanced development with Phase III trials of TG4001 planned for 2008 and Phase IIb studies of TG4010 currently underway. Transgene has licensed TG4001 to the pharmaceutical company Roche for treatment of HPV related pathologies.

For further information contact:
Dr Larry Ward
CEO, Virax Holdings Limited
Melbourne, Australia
(03) 9854 6230

John Morrison
CFO, Virax Holdings Limited
Melbourne, Australia
(03) 9854 6230