Disclosure Document

Document date:  Fri 11 Jan 2002
Published:  Fri 11 Jan 2002 00:00:00
Document No:  185999
Document part:  A
Market Flag:  Y


HOMEX - Melbourne                                                     

As set out in our prospectus dated 16 November 2001, Antisense
Therapeutics Limited is making an offer to shareholders of Circadian
Technologies Limited and Syngene Limited of one option, at one cent,
to take up one unissued security in Antisense at 20 cents at any
time on or before 1 February 2007, for every Circadian or Syngene
share held at 8 January 2002.

N Korchev 


In our prospectus dated 16 November 2001. Antisense Therapeutics 
Limited ("Antisense") foreshadowed an offer to be made to shareholders
of Circadian Technologies Limited ("Circadian") of one option, at one 
cent, to take up one unissued security in Antisense at 20 cents at any
time before on or before 1 February 2007 for every Circadian share 
held as at 8 January 2002 ("Antisense Option").

We attach a prospectus dated 11 January 2002 ("Prospectus"), issued by
Antisense for the purposes of this offer. The maximum number of 
Antisense Options that may be issued under this offer and a similar 
offer being made concurrently to shareholders of Syngene Limited is 
64,405,618. Circadian shareholders who held shares in Circadian as at 
8 January 2002 will receive this offer. As such a shareholder, this 
offer is made to you pursuant to the to the attached Prospectus. The 
number of Antisense Options which you are may apply for is shown on 
the Application Form attached to the Prospectus. The alternatives 
available to Circadian shareholders in respect to their entitlement is
set out in section 1.3 of the Prospectus. Acceptance for Antisense 
options must be accompanied by payment in full of 1 cent per option 

For the purposes of this offer, Circadian shareholders who held 
Circadian Shares as at 8 January 2002 should note as follows:

Antisense option acceptances close              15/02/2002
Antisense Option acceptances from member 
 organisations close                            22/02/2002

Rights to Antisense Options will be non-renounceable, so the rights 
may not be sold or otherwise renounced or disposed of.

Those Circadian shareholder to who offers have been made (those on the
register as at 8 January 2002) may:

* take up the Antisense Options in full:
* take up part of their Antisense Option allocation and allow the 
balance to lapse: or
* allow all of their allocation to lapse.

Antisense has applied to the Australian Stock Exchange Limited ("ASX")
for the Antisense Options to be quoted on the ASX. Shares issued on 
exercise of the Antisense Options will rank equally in all respects 
with existing shares in Antisense. Antisense will apply for quotation 
of the shares issuable or issued upon exercise of the Antisense Option
and those shares will be eligible to be quoted on ASX in the same 
manner as other shares in Antisense.

The Prospectus explains how as a shareholder of Circadian, offers of 
options are being made. Before making a decision to take up the option
in Antisense it is important that you:

* read the attached Prospectus carefully

* also read the Antisense prospectus dated 16 November 2001 carefully 
- we earlier sent copies to all Circadian shareholders but if you 
require a copy you may download if from our website at 
www.antisense.com.au or you may obtain a paper copy by contacting us 
at (03) 9836 0399.

N Korchev