Allowing ASP.Net application to call a COM/DCOM object without throwing UnauthorizedAccessException

I have a windows app (windows2003 server and XP) that is using the GlobalScape CuteFTPPro.8 DLL to make SecureFTP calls to a server. This works great, but when I try using this exact code in a ASP.Net app it fails with the "UnauthorizedAccessException: Retrieving the COM class factory for component with CLSID..." error.
I have given ASPNET privileges to the calling dll, the folder it resides in, the main registry key, and have also ran dcomcnfg and set the Launch and Activation privileges to aspnet. What else would need to be configured toallow ASP.Net to run this code?

Sample code in the app:

public void transferFileFTPS(string ftpLocation, int ftpPort, string ftpProtocol, string ftpFolder,
                                 string ftpFile, string localFileFolder, string ftpUser, string ftpPass, TransferDirection direction)
        {
            string errStr = "";

            try
            {
                //TEConnection site = Activator.CreateInstance<TEConnectionClass>();
                ftptelib.TEConnection site = new ftptelib.TEConnection();
                site.Port = ftpPort;
                site.Protocol = ftpProtocol;
                site.Host = ftpLocation;
                site.Login = ftpUser;
                site.Password = ftpPass;
                site.RemoteFolder = ftpFolder;

                site.Connect();

                switch (direction)
                {
                    case TransferDirection.Upload:
                        site.LocalFolder = localFileFolder;

                        //upload: first param=filename to upload, second param is desired filename at destination. (if u need to change it)
                        site.Upload(ftpFile, ftpFile, 1);
                        break;
                    case TransferDirection.Download:
                        site.Download(ftpFile, localFileFolder, 1);
                        break;
                    default:
                        break;
                }

                site.Disconnect();
                site.Close("EXIT");
            }
            catch (Exception ex)
            {
                errStr = ex.Message;
            }
        }