CASTLE ROCK, CO--(Marketwire - Nov 21, 2011) - AspenBio Pharma, Inc. (NASDAQ: [ APPY ]), an emerging in vitro diagnostic company, recently completed its 2011 pilot study of AppyScore™, a novel blood-based test being developed to assist emergency department physicians manage children and adolescent patients suspected of having acute appendicitis. AspenBio will host a conference call to report results from the pilot study and planned next steps for AppyScore.

Date: Monday, November 28, 2011
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Dial-In Number: 1-877-941-1427
International: 1-480-629-9664
Conference ID#: 4490299

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860.

AspenBio's senior management will host the conference call, followed by a question and answer period. Management plans to discuss the following topics:

• Results from the recently completed 2011 pilot study evaluating 431 subjects with the AppyScore multi biomarker test panel.
  
  
• Performance of the AppyScore test evaluated against an independent sample set drawn from children and adolescent subjects.
  
  
• A discussion of AppyScore's key performance metrics, including clinical sensitivity, specificity and negative predictive value for the AppyScore product configuration.
  
  
• A summary of the expected AppyScore product configuration, as well as its intended use and indication for use populations.
  
  
• An assessment of the intellectual property position for AppyScore.
  
  
• Anticipated timelines and key milestones associated with completing product development and the planned pivotal clinical trial.
  
  

A telephone replay of the call will be available after 7:30 p.m. Eastern time on the day of the call and until December 28, 2011.

Toll-free replay number: 1-877-870-5176
International replay number: 1-858-384-5517
Replay pin #: 4490299

The audio of the conference call will be simultaneously webcasted as well as available for replay via a link provided in the investor relations section of the company's Web site at [ www.aspenbiopharma.com ].

Abdominal Pain and AppyScore
Abdominal pain is the most frequent complaint of patients entering hospital emergency rooms. Diagnosing the cause of abdominal pain can be both challenging and urgent because a delayed diagnosis often negatively impacts the patient's health and increases cost. While it is a common cause of abdominal pain, acute appendicitis is particularly challenging to diagnose.

The AppyScore test being developing by AspenBio is designed to help physicians identify and conservatively manage patients who do not have appendicitis. If the high negative predictive value and sensitivity observed in these studies can be confirmed and found acceptable by the U. S. Food and Drug Administration ("FDA"), the use of AppyScore could spare children and adolescent patients who are determined to be at low risk exposure to ionizing radiation by reducing the number of CT scans performed. This could also thereby help reduce the costs associated with evaluating potential acute appendicitis.

About AspenBio Pharma
AspenBio Pharma, Inc. (NASDAQ: [ APPY ]) is an emerging in vitro diagnostic company focused on obtaining FDA clearance for its lead product, AppyScore™. AppyScore is a novel, blood-based test in development, designed to help physicians manage the millions of patients who enter emergency rooms every year complaining of abdominal pain, many suspected of having acute appendicitis. The company has a large and unique repository of blood samples that provide valuable data regarding the appendicitis condition and additional protein marker information associated with causes of abdominal pain, providing an important resource for product development. The company also has several animal health reproductive drugs in research and development for use, following regulatory approval, in animals of economic importance. For more information, visit [ www.aspenbiopharma.com ].

Important Cautions Regarding 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 clinical trial activities for AppyScore™ required for FDA submission, obtain FDA clearance or approval, cost effectively manufacture and generate revenues from AppyScore and other new products, 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 Quarterly Report on Form 10-Q for the period ended September 30, 2011, as filed with the SEC.