AspenBio Pharma Fills Key Animal Health and Quality Leadership Positions

CASTLE ROCK, CO--(Marketwire - October 14, 2009) - AspenBio Pharma, Inc. (NASDAQ: APPY), an emerging bio-pharmaceutical company dedicated to the development of novel drugs and diagnostics for humans and animals, has added Dr. Andrew Peters to the new position of vice president of animal health and Dr. Mary Nunnally to the new position of vice president of quality management.

"These two highly-skilled professionals fill key management positions at AspenBio as we advance our lead products toward commercialization," said the company's chairman and chief executive officer, Daryl Faulkner. "Andy brings years of animal health experience to help focus and guide our strategy for this business unit. And Mary's skill set will create a solid quality process foundation as we develop and bring to market our AppyScore™ diagnostic test for human appendicitis."

Dr. Peters brings to AspenBio Pharma more than 30 years of experience in the animal health market, including significant experience successfully completing regulatory, business development, strategic alliance and technology transfer activities. During his eight years with Pfizer Animal Health, he served in a number of senior positions and lastly as senior director of EU Vaccine R&D. He previously was a professor of animal health and production at the Royal Veterinary College of University of London from 1993 to 1998. Dr. Peters is a veterinarian with PhD and DSc degrees in animal science and holds a special professorship with the University of Nottingham. He has authored more than 145 papers in physiology, animal science and vaccine development, and has published two books. He is also a frequent speaker within the industry.

Dr. Nunnally joins AspenBio with 20 years experience in quality and operations management in the medical device, biomedical research product and pharmaceutical industries. Most recently, she spent nearly three years at Ceragenix Pharmaceuticals, Inc., serving as its director of technical operations, and previously spent five years with Invitrogen Corporation, lastly as its director of global supplier quality. Prior to entering industry, Dr. Nunnally spent six years on the research faculty in Physiology and Pharmacology at the University of Texas Southwestern Medical Center at Dallas. She has a B.A. in genetics from the University of California, Berkeley and a PhD in biochemistry from The Johns Hopkins University School of Medicine.

About AspenBio Pharma

AspenBio Pharma, Inc. (NASDAQ: APPY) is an emerging bio-science company dedicated to the discovery, development and commercialization of novel products that address unmet diagnostic and therapeutic needs in both human and animal health. The company's AppyScore blood-based test addresses the difficult challenge of diagnosing human appendicitis in the hospital emergency department. The company is also advancing unique therapeutic proteins designed to improve reproduction in non-companion animals of economic importance. For more information, go to www.aspenbiopharma.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of the future as there are a number of meaningful factors that could cause the company's actual results to vary materially from those indicated by such forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the company believes are appropriate in the circumstances. Meaningful factors, which could cause actual results to differ from expectations, many of which are beyond the control of the company, include, but are not limited to, our ability to successfully complete the clinical trial data assessments required for FDA submission, obtain FDA approval for, cost effectively manufacture and generate revenues from, the appendicitis test in development, as well as the animal products and other new products developed by the company, and our ability to retain the scientific management team to advance the products in development, execute agreements to provide the company with rights to meet its objectives, overcome adverse changes in market conditions and the regulatory environment, and obtain and enforce intellectual property rights. The company does not intend (and is not obligated) to update publicly any such forward-looking statements. For other factors that may impact such forward-looking statements, reference is made to our annual and quarterly reports filed with the Securities and Exchange Commission.