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Exhibit 99.1
 
 



November 2011

NASDAQ: APPY
 AppyScore
 For Acute Appendicitis Management
 
 

 
2
NASDAQ: APPY
Important Cautions Regarding Forward-Looking Statements
 Certain statements made in this presentation are "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 presentation 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 the pilot study and clinical trial
 activities for AppyScore™ required for FDA submission, obtain FDA clearance, 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 presentation should be considered in conjunction with the risk factors contained in AspenBio's most
 recent Annual Report on Form 10-K as filed with the SEC.
 This presentation is © 2011 AspenBio Pharma, Inc., All Rights Reserved.
 
 

 
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NASDAQ: APPY
The AspenBio Solution
 Ÿ AspenBio is developing AppyScore, a blood-based
 “Rule-Out” test for Acute Appendicitis in children and
 adolescents
 Ÿ Designed to help confirm that patients with abdominal
 pain suspicious for appendicitis are at low to moderate
 risk of the disease so they can be managed
 appropriately
 Ÿ Healthcare benefit: Fewer CTs = Reduced radiation
 exposure
 Ÿ Hospital benefit: Enhanced decision making, reduced
 cost and increased workflow
 Ÿ Pilot study underway: Solid regulatory plan based on
 regulatory feedback
 Ÿ Substantial global market potential
 Ÿ Significant first mover advantage
 
 

 
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NASDAQ: APPY
Why Focus on the Diagnosis of Abdominal Pain?
Abdominal vs. Chest Pain as % of Total ER Visits
Patients >18 years in U.S., 1999-20081
1Trend is significant (p < 0.05).  Figures are based on 2-year averages. Source: CDC/NCHS, National Hospital Ambulatory Medical Care Survey 1999-2008.
²NHAMCS Data, 2008 ( All reference to abdominal pain are regarding “non- traumatic” abdominal pain)
3 Emer Med Clinics of North Amer 2001 19:123-136
 
 

 
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NASDAQ: APPY
…and Why Appendicitis?
Ÿ 3.1M CT Scans annually for abdominal
 pain alone2
Ÿ 326K appendectomies in U.S. in 20072
Ÿ Children & adolescents represent peak
 age group3
Ÿ Appendicitis affects 9% men, 7%
 women over lifetime3
1Ind J Radiol Imag 2006 16:4:523-532
2Source: NHDS from CDC 2007 data
3Am Journal of Epidemiology, Addis et al. Johns Hopkins Vol. 132 no. 5
Appendectomy is #1 Reason for Emergency Abdominal Surgery1
 
 

 
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NASDAQ: APPY
Abdominal Pain Metrics
Patients Entering ER for Abdominal Pain & Receiving
Complete Blood Count Test (CBC) Annually
(millions)
Source of CBC data NHAMCS 2009
 Greater than 50%
 of patients
 suspected of
 appendicitis are
 children,
 adolescents and
 young adults
 
 

 
 
 

 
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NASDAQ: APPY
Use of ER Abdominal CT Imaging is Rising Rapidly
 Use of advanced medical
 imaging 1 for non-traumatic
 abdominal pain is increasing
 However, “liberal use of CT
 scans in diagnosing
 appendicitis in children has
 not resulted in a decreased
 negative appendectomy
 rate”² (i.e., CT scans did not
 decrease the removal of non-
 diseased appendixes)
Medical imaging (U.S.) in non-traumatic ER visits
Percentage per Symptom 1
Patients >18 years in U.S., 1999-2008
 1 Includes CT, MRI and Ultrasound, ages 18 and older. SOURCE: CDC/NCHS, National Hospital Ambulatory Medical
 Care Survey 1999-2008.
 ² J Pediatr Surg. 2004 Jun;39(6):886-90; discussion 886-90.
 
 

 
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NASDAQ: APPY
Ÿ Children are highly vulnerable to the oncogenic, long
 term effects of exposure to high doses of ionizing
 radiation (i.e., from CT)
Ÿ Up to 2% of all U.S. cancers will be caused by CT1
Ÿ Earlier the exposure, the more likely to die from
 cancer later in life (see chart below)
1N Engl J Med 2007; 357:2277-84
2Larson et. al., Radiology Published online April 5, 2011
Lifetime Attributable Risk of Death from Cancer
per Million Patients Exposed to 10mCy
Age at Exposure (yr)
“Our finding of a substantial increase in the use of CT in children
 who visit emergency departments in the United States
 
underscores the need for special attention to this vulnerable
 population
to ensure that imaging is appropriately ordered,
 performed, and interpreted.” 2
CT Use in Children Increases Lifetime Cancer Risk
 
 

 
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NASDAQ: APPY
Further analysis of the 2011 pilot study found that of the 50 low/mod risk subjects who had a
CT, 14 (28%) would have tested negative by our multi-marker diagnostic and hence, could
have been more conservatively managed and possibly been spared a CT scan.*
74/181
50/152
57/128
15/45
CT Usage Not Correlated With Appendicitis Risk
*Risk groups in the 2010 clinical  study were based on a modified Alvarado scoring system (9 of the 10 Alvarado items) while the
 risk groups in the 2011 pilot study were based on a new scoring systems (4 of the 10 Alvarado items).
 
 

 
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NASDAQ: APPY
AppyScore Intended Use & Value Proposition
AppyScore is intended to be used as an aid to rule out appendicitis in pediatric
and adolescent patients presenting with signs, symptoms and medical history
placing them at low to moderate risk of having the disease.
Fits emergency room & laboratory workflow
Ÿ Blood-based rule-out test
Ÿ Rapid Processing Time and
 throughput
Ÿ Data accessible to hospital via
 LIS system
Ÿ Easy to deploy & use in any
 hospital setting
 
 

 
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Clinical Work Flow with AppyScore
History & Physical Exam
Conservative Management
Spares Radiation Exposure
 
AppyScore Testing to Help
Rule/Out Appendicitis
CT Scan
Higher Risk
for Further
Evaluation
Risk
Stratification
Signs & Symptoms
of Appendicitis
AppyScore
Test
Negative
Appendectomy
Lower Risk
AppyScore
 Test Positive
 
 

 
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NASDAQ: APPY
Competencies Match Requirements for Appendicitis Test Development
 
 

 
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NASDAQ: APPY
Multi-Marker Approach Enhances Product Performance
Examples of Recent FDA-Cleared Single Marker vs. Multi-marker Tests
FDA-Cleared
Test
# Bio-
Markers
Application
Sensitivity
Specificity
NPV
CA 125 1
1
Tumor
Marker
(primarily
Ovarian)
77
68
87
Fujirebio -
ROMA
2
2
Ovarian
Cancer
88
67
96
Vermillion -
Ova 1
1
5
Ovarian
Cancer
94
35
93
1 Miller et al. Performance of the American College of Obstetricians and Gynecologists’ Ovarian Tumor Referral
 Guidelines With a Multivariate Index Assay
. Obstet Gynecol. 2011; 117(6): 1298-1306
2 Fujirebio press release. 6 Sept 2011
 
 

 
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NASDAQ: APPY
2011 AspenBio Interim Pilot Study Summary
* Data as of October 2011.
Pilot Study
Metrics & Milestones*
Number of Sites
11
Patients Enrolled
406
Prevalence of Appendicitis
28%
% of Patients who Underwent CT
37%
Samples Tested for Multi-Markers
197
Enrollment Completion (~500 Patients)
Nov 11
Follow-up FDA Meeting Request
Q4/11
 
 

 
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NASDAQ: APPY
Ÿ Ongoing pilot study designed to
 evaluate the performance of
 patented MRP 8/14 biomarker
 and AspenBio’s Candidate
 Multi-Marker Panel
Ÿ Interim analysis pilot study
 results indicate use of multiple
 biomarkers as diagnostic test
 format provided improved
 outcomes
 Ÿ MRP 8/14 biomarker provided
 outcomes generally consistent
 with results noted in prior trials
Interim Data from 2011 Pilot Study (197 Patients)
MRP 8/14 vs. Candidate Multi-Marker Panel
Ÿ Preliminary results are encouraging, but are not conclusive
Ÿ Additional development work, analysis and completion of the
 full 500-patient study is necessary prior to commencement of a
 pivotal trial
Ÿ *All three improvements using the multi-marker test are
 collectively important
 
MRP 8/14
Multi-Marker
 
Results
95% CI
Results*
95% CI
Sensitivity
90%
74 - 96
95%
87 - 99
Specificity
33%
25 - 42
40%
35 - 52
NPV
93%
81 - 98
97%
93 - 99
 
 

 
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NASDAQ: APPY
1 Thachil et al. Amer J of Med 123:1 pp 17-19 (2009)
FDA Guidance Suggests Following D-Dimer Assay Model
D-Dimer Aids in
“Ruling Out”
Blood Clots1
AppyScore
designed to Aid
in “Ruling Out”
Appendicitis
D-Dimer and AppyScore
Share Similar Regulatory Pathways
 
 
 
 
D-Dimer
AppyScore
Condition Being Evaluated
Pulmonary
Embolism
Appendicitis
Rule-Out Test to Aid in Patient
Management
(Low Disease Risk)
Yes
Yes
Probability of the Disease
Low
Low
Use of Pretest Probability
Yes
Yes
Negative Predictive Value
High
High
Specificity
Moderate
Moderate
Competition
Significant
None
Number of Test Manufacturers
14
One
 
 

 
 
 

 
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NASDAQ: APPY
AspenBio Positioned to Build Product Portfolio for
Abdominal Pain
Ÿ AspenBio continues to build a comprehensive understanding of the
 biology of appendicitis and abdominal pain
Ÿ As the result of numerous studies, we have amassed a large & unique
 store of blood samples with diagnostic information
 Ÿ 2,000+ samples, growing to 3,000+ following Pivotal Trial
 Ÿ Further study of these samples could provide rare insight into markers
 related to other causes of abdominal pain
Ÿ This resource provides AspenBio a head start in the development of
 diagnostic products focused on appendicitis and abdominal pain
 Present Next  Future
 
 

 
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NASDAQ: APPY
Highly-Experienced Team w/ Strong Track Records of
Success
§ Steve Lundy - President & CEO
 MicroPhage, GeneOhm Sciences (Acquired by BD),
 Dianon Systems (Acquired by LabCorp), Bayer
 Commercial leadership in several high growth
 diagnostic companies
(Dianon, AVL, GeneOhm)
 
resulting in combined exit value of >$1 billion
§ Steve Tyrrell- Head of Research & Development
 Founder & CTO of Eveia Medical, VP R&D Biosafe
 Laboratories, R&D Osborn Laboratories
 Led the Research & Development of 10 commercial
 products with primary emphasis in In Vitro
 diagnostics
§ Michael Wandell - Clinical & Regulatory Affairs
   Epigenomics, Benaroya Research Institute, Home
 Access Health Corp., Genetic Systems
 Seven major diagnostics cleared or approved by FDA;
 extensive world-wide regulatory approvals
§ Erik Miller, VP Marketing & Bus. Development
 
Biosite (Acquired by Alere), Safety Syringes, & Luminex
 Launched & managed Triage® line, UltraSafe® Safety
 Devices, Luminex 200™ platform & consumable
 
(MagPlex®) driving key sustainable high-margin
 businesses
 Directors with diagnostic experience
§ John Landon - Prior director of Digene, chair of Cholestech,
 and Vice President and General Manager, DuPont Medical
       Products
 
 

 
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NASDAQ: APPY
 Summary Capitalization
 Market Cap. (10/20/11)
$18.7M
 Shares Outstanding*
8.0M
 Public Float, est.
7.8M
 
 
 Ownership Summary
 Institutional Holdings, est.
26.4%
 Insider Holdings, est.
3.0%
(mrq) - most recent quarter as of June 2011
Key Stats: APPY (NASDAQ CM)
 Summary Balance Sheet
 Cash & Equiv. (9/30/11)
$4.8M
 Total Assets (mrq)
$12.0M
 Total Liabilities (mrq)
$5.7M
*Post split as of 8/1/11
 
 

 
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NASDAQ: APPY
AspenBio Key Takeaways
 Ÿ AppyScore: Designed to Help Confirm that
 Patients with Abdominal Pain Suspicious for
 Appendicitis are at low to Moderate Risk of the
 Disease so they can be Managed Appropriately
 Ÿ Patient Benefit: Fewer CTs = Reduced radiation
 exposure
 Ÿ Hospital Benefit: Enhanced Decision Making,
 Reduced Cost and Increased Workflow
 Ÿ Pilot Study Underway: Solid Regulatory Plan
 Based on Regulatory Feedback
 Ÿ Recent ISO 13485 Certification Achieved
 Ÿ Substantial Global Market Potential
 Ÿ Significant First Mover Advantage