EXHIBIT 99.2

                                [GRAPHIC OMITTED]


FOR IMMEDIATE RELEASE

                           CHEMGENEX TO LIST ON NASDAQ
                                (NASDAQ SC; CXSP)

MELBOURNE, AUSTRALIA, AND MENLO PARK, CALIFORNIA U.S.A. (JUNE 27, 2005):
ChemGenex Pharmaceuticals Limited (ASX: CXS) announced today that it has
received approval from the NASDAQ to list its securities on the NASDAQ SmallCap
Market as American Depositary Receipts (ADRs) under the ticker CXSP. Trading in
ChemGenex ADRs will be possible from Tuesday June 28, 2005 at 9.30 am EST (US
time).

Each ADR will represent 15 ordinary shares. The ordinary shares will continue to
trade on the Australian Stock Exchange under the ASX code "CXS". The Company has
selected the Bank of New York to administer its ADR program.

"This is an important step in the growth of ChemGenex as an international
pharmaceutical company" said Greg Collier, Ph.D., Chief Executive Officer and
Managing Director of ChemGenex Pharmaceuticals. "Listing on NASDAQ enables
access to US capital markets. ChemGenex has developed a significant US presence
over the past year, with executive and clinical development staff in our US
office and two ongoing Phase 2 clinical trials in major US cancer centres. We
believe that we are well-positioned to grow our investor base in the US, and are
confident that a NASDAQ-listing will assist us in this regard."


AMERICAN DEPOSITORY RECEIPTS (ADRS)
ADRs are commonly used to facilitate US investors investing in foreign companies
not listed the US. Some US investors, particularly certain domestic mutual
funds, are prohibited from investing directly in foreign securities and ADRs
provide a mechanism for them to invest in foreign securities.

An ADR is created when a broker purchases the Company's shares on the home stock
market and delivers those shares to the Depository Bank to issue Depository
Receipts.

ChemGenex is undertaking a Level 2 ADR program, which requires the preparation
of a Registration Statement which is submitted to the US Securities and Exchange
Commission (SEC) which when completed provides a listing with US GAAP and full
SEC compliance.



CHEMGENEX TO LIST ON NASDAQ (NASDAQ SC; CXSP)
Page 2 of 3


NASDAQ
ChemGenex ADSs will trade on the fully automated, screen based NASDAQ SmallCap
Market.

NASDAQ is the largest U.S. electronic stock market. With approximately 3,300
companies, it lists more companies and, on average, trades more shares per day
than any other U.S. market. It is home to category-defining companies that are
leaders across all areas of business including technology, retail,
communications, financial services, transportation, media and biotechnology. For
more information visit www.nasdaq.com


ABOUT CHEMGENEX PHARMACEUTICALS LIMITED     (www.chemgenex.com)
ChemGenex Pharmaceuticals is a gene-based pharmaceutical company dedicated to
improving the lives of patients by developing therapeutics in the areas of
oncology, diabetes, obesity, and depression. ChemGenex currently has two
compounds in Phase 2 clinical trials, Ceflatonin(R) for leukemia and Quinamed(R)
for solid tumors, and has a significant portfolio of anti-cancer, diabetes,
obesity and depression programs. The company's diabetes and obesity program is
partnered with Merck KGaA and the depression program is partnered with Vernalis
plc. ChemGenex currently trades on the Australian Stock Exchange under the
symbol "CXS" and the NASDAQ exchange under the symbol "CXSP".



Contacts

                                                            
Dr. Greg Collier (CEO and Managing Director)    Australia         +61 3 5227 2752
                                                USA               (650) 474-9800 ext 103
Dr. Dennis Brown (President and Director)       USA               (650) 474-9800 ext 108
                                                Australia         +61 3 5227 2703
Mr Hershel Berry (Investor Relations)           USA               (415) 392-3310



SAFE HARBOR STATEMENT

Certain statements made herein that use the words "estimate," `project,"
"intend," "expect," "believe," and similar expressions are intended to identify
forward-looking statements within the meaning of the US Private Securities
Litigation Reform Act of 1995. These forward-looking statements involve known
and unknown risks and uncertainties which could cause the actual results,
performance or achievements of the company to be materially different from those
which may be expressed or implied by such statements, including, among others,
risks or uncertainties associated with the development of the company's
technology, the ability to successfully market products in the clinical
pipeline, the ability to advance promising therapeutics through clinical trials,
the ability to establish our fully integrated technologies, the ability to enter
into additional collaborations and strategic alliances and expand current
collaborations and obtain milestone payments, the suitability of internally
discovered genes for drug development , the ability of the company to meet its
financial requirements, the ability of the company to protect its proprietary
technology, potential limitations on the company's technology, the market for
the company's products, government regulation in Australia and the United
States, changes in tax and other laws, changes in competition and the loss of
key personnel. These statements are based on our



CHEMGENEX TO LIST ON NASDAQ (NASDAQ SC; CXSP)
Page 3 of 3


management's current expectations and are subject to a number of uncertainties
that could change the results described in the forward-looking statements.
Investors should be aware that there are no assurances that results will not
differ from those projected.

                                       ###