Market Overview

AspenBio Pharma Changes Company Name to Venaxis

Venaxis (Nasdaq: APPY), formerly AspenBio Pharma, an in vitro diagnostic company, today announced it has changed its corporate name after receiving approval from its shareholders at a Special Meeting of Shareholders held on December 11, 2012. The Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "APPY". As part of its rebranding process Venaxis has also changed the name of the Company's blood-based appendicitis diagnostic test in development to "APPY1".

Steve Lundy, President and CEO of Venaxis, stated, "These changes represent another major step forward in our corporate rebranding process and we are pleased that our shareholders overwhelmingly supported our recent efforts to align our corporate identity with our core in vitro diagnostics business. Our goal is to become a recognizable name in the human diagnostics space and we feel that the timing of these branding changes is auspicious, as we draw closer to commercializing APPY1 in Europe and initiating a pivotal clinical study for purposes of gaining regulatory clearance in the United States."

Venaxis is revising and updating the Company web site and corporate materials, including the logo, and plans to unveil its new corporate look and investor website shortly after the first of the year.

During the Special Shareholder Meeting, the Company's shareholders approved all motions, including the proposed increase in the number of shares available under its equity plan.

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