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AspenBio Pharma Announces Proposed Public Offering

CASTLE ROCK, Colo., Nov. 14, 2012 /PRNewswire/ --  AspenBio Pharma, Inc. (Nasdaq: APPY), an in vitro diagnostic company, today announced its intention, subject to market and other conditions, to commence a public offering of its common stock. AspenBio intends to use the net proceeds from this offering for general corporate purposes, including conducting a clinical trial for its blood-based appendicitis test and for working capital purposes.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

A registration statement on Form S-3 relating to the shares was filed with the Securities and Exchange Commission and was declared effective on July 27, 2011. A preliminary prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained from the offices of Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com. Electronic copies of the prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

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 www.aspenbiopharma.com.

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