This Year's Highlights

• Raised $4.2 million. Completed acute toxicity studies. Nearing completion of CMC requirements for IND filing. Completed clinical trial protocol for IND.
• Abundance of human safety data and specific mechanism of action indicate low safety risk and high probability of clinical effectiveness.
• Finalizing preparations with Cleveland Clinic Cadiovascular Center to conduct clinical trials.

Anticipated Highlights

• Submit IND for heart failure 4Q FY 2007.
• Submit IND for heart failure treatment in 2007; Complete formulation development of 30-day controlled release for heart failure patients by 4Q 2007 and proceed to preclinical testing in 1Q 2008.

Corporate Mission

VasoGenix Pharmaceuticals, Inc. is a Pre IND stage pharmaceutical company focused on the development of a new therapeutic for heart failure. VasoGenix is characterized by experienced management team, dirctor and science boards; a world class clinical research steering committee: a cost-effective accelerated development strategy based on its development only operating structure; a world-class team of strategic R&D partners; and most importantly safety and effective human clinical data for its drug; and a proprietary position with its drug. The drug, Calcitonin Gene Related Peptide (CGRP) the body?s natural cardioprotectant, has the potential of meeting critical cardiology needs in $11+ billion-dollar markets.

This unique blend of characteristics not usually found in companies at this stage of development will enable the Company to reach the Investigational New Drug (IND) stage of product development with significantly less capital and time than typically expected. VasoGenix has reached Pre IND status with expenditures of $4.2 million (Series A/B/C). The company intends to complete remaining pre clinical work and conduct a Proof of Concept(POC)trial (Phase I/II) in 2007. Demonstration of POC would lead to increased valuation of the company and represent the earliest investor exit opportunity, estimated to be in three years from funding. Vasogenix is a drug development company with funding requirements and a developmental time lines more reminiscent of medical devices.