Alchemia Limited (ASX: ACL) announced today that Pete Smith, Chief Executive Officer, is scheduled to present a corporate update at the Cowen and Company 31st Annual Health Care Conference at 4:45 p.m. EST on Monday, March 7, 2011. The presentation will provide an update on the approval process for the Company’s generic fondaparinux product and the status of the pivotal Phase III study of HA-Irinotecan in metastatic colorectal cancer.

About Alchemia:

The Company’s lead program is fondaparinux (a generic version of GlaxoSmithKline’s Arixtra®, a synthetic anticoagulant mainly used for the prevention of deep vein thrombosis). The ANDA for generic fondaparinux was filed for approval with the US FDA in March 2009 and approval is pending. It is partnered with Dr Reddy’s Laboratories for global manufacturing and marketing.

Alchemia’s pipeline of assets is built on two platform technologies: HyACT® (targeted cancer delivery) and VAST® (drug discovery). The primary objective of the HyACT® technology is to develop a new generation of anti-cancer drugs which demonstrate better efficacy. The lead product from the HyACT® platform is HA-Irinotecan for which a phase III clinical trial in metastatic colorectal cancer is ready to commence recruitment. In addition to HA-Irinotecan, Alchemia has successfully taken two other anti-cancer products HA-Doxorubicin (doxorubicin and hyaluronic acid) and HA-Fluorouracil (5-fluorouracil and hyaluronic acid) into successful Phase I clinical testing and they continue to development on five other HyACT® drugs.