Application for HIV/AIDS therapeutic vaccine lodged

October 18, 2006

Virax (ASX:VHL) lodges application for HIV/AIDS therapeutic vaccine

trial in United States

MELBOURNE, Australia, 17 October 2006 - Today Virax (ASX:VHL) is

lodging an Investigational New Drug (IND) application with the US

Food and Drug Administration (FDA) to conduct a Phase II clinical

trial of its therapeutic HIV/AIDS vaccine, VIR201. The application

has been prepared by Virax's scientific team in Melbourne and is one

of fewer than ten IND applications to the FDA made by Australian

drug discovery companies.

The proposed US trial is in addition to the Phase I/IIa trial of

VIR201 planned for the developing world. The application to conduct

a trial for the developing world was submitted to the South African

Medicines Control Council in September 2006.

VIR201 is based on Virax's proprietary Co-X-GeneTM technology and

it's development through the proposed clinical trials is the key

priority for the Company as it seeks to unlock the value of the

technology for shareholders. The Board firmly believes that the Co-X-

GeneTM technology is unique and significant, and that this will be

further demonstrated by the results from the Phase II VIR201 trial.

Confirmation of our present results would be a transforming event

for the Company as we would then have entry to an anti-HIV drug

market, which at present is some $8.0 billion and growing at more

than 10% p.a., with VIR201 as an adjunct or alternative treatment to

anti HIV drugs. The expectation of the Board is that the trial

results will add significant value to the Company.

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