AspenBio Engages European-based Sales and Marketing Veteran Miquel Vernet to Consult on European Commercialization

 AspenBio Engages European-based Sales and Marketing Veteran Miquel Vernet to
                    Consult on European Commercialization

PR Newswire

CASTLE ROCK, Colo.,, Nov. 6, 2012

CASTLE ROCK, Colo.,, Nov. 6, 2012 /PRNewswire/ --AspenBio Pharma, Inc.
(Nasdaq: APPY), an in vitro diagnostic company, today announced it has engaged
Miquel Vernet to consult with the Company as it prepares for European
commercialization. Mr. Vernet will work closely with Don Hurd, Chief
Commercial Officer of AspenBio. AspenBio anticipates obtaining CE Mark for
its appendicitis diagnostic test before the end of the year, followed by a
commercial launch in major European territories.

Steve Lundy, President and CEO of AspenBio, stated, "We are very excited
Miquel has agreed to assist us in advance of our anticipated European launch.
Miquel is a highly experienced sales and marketing professional. Previously,
while I was at GeneOhm Sciences, I handpicked him to lead our European
commercial efforts and he was instrumental in some of our successes there.
Having Miquel's assistance is a critical step as AspenBio assembles its
distribution network in Europe prior to obtaining CE Mark, which we expect to
announce later this quarter."

About AspenBio Pharma
AspenBio Pharma, Inc. is an in vitro diagnostic company focused on the
clinical development and commercialization of its blood-based appendicitis
test. The unique appendicitis test has projected high sensitivity and
negative predictive value and is designed to aid in the identification of
patients at low risk for acute appendicitis, allowing for more conservative
patient management. The test is being developed initially for pediatric,
adolescent and young adult patients with abdominal pain, as this population is
at the highest risk for appendicitis and has the highest risk of long-term
health effects associated with CT imaging. For more information, visit

Forward-Looking Statements
This press release includes "forward-looking statements" of AspenBio Pharma,
Inc. ("AspenBio") as defined by the Securities and Exchange Commission
("SEC"). All statements, other than statements of historical fact, included in
this press release that address activities, events or developments that
AspenBio believes or anticipates will or may occur in the future are
forward-looking statements. These statements are based on certain assumptions
made based on experience, expected future developments and other factors
AspenBio believes are appropriate in the circumstances. Such statements are
subject to a number of assumptions, risks and uncertainties, many of which are
beyond the control of AspenBio. Investors are cautioned that any such
statements are not guarantees of future performance. Actual results or
developments may differ materially from those projected in the forward-looking
statements as a result of many factors, including our ability to successfully
complete required product development and modifications in a timely and cost
effective manner, complete clinical trial activities for the appendicitis test
required for FDA submission, obtain FDA clearance or approval, complete and
obtain CE Mark, cost effectively manufacture and generate revenues from the
appendicitis test, execute agreements required to successfully advance the
company's objectives, retain the management team to advance the products,
overcome adverse changes in market conditions and the regulatory environment,
obtain and enforce intellectual property rights, and realize value of
intangible assets. Furthermore, AspenBio does not intend (and is not
obligated) to update publicly any forward-looking statements. The contents of
this press release should be considered in conjunction with the risk factors
contained in AspenBio's recent filings with the SEC, including its Final
Prospectus filed on June 20, 2012.

For Investors & Media:
Joshua Drumm, Ph.D. / Jason Rando
Tiberend Strategic Advisors, Inc.
(212) 827-0020

SOURCE AspenBio Pharma, Inc.

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