Afexa Life Sciences Inc.
TSX : CVQ

Afexa Life Sciences Inc.

May 24, 2006 07:00 ET

McGILL University Pre-Clinical Research Demonstrates Positive Results for CVT-E002 in a Cancer Model

MONTREAL, QUEBEC--(CCNMatthews - May 24, 2006) - CV Technologies Inc. (TSX:CVQ) today reported on the successful completion at McGill University of a pre-clinical cancer study involving CVT-E002 demonstrating positive results. The results support the hypothesis that CVT-E002 may have potential as a cancer therapy and may also support the immune system during cancer treatment. The study, launched in November 2004, was led by Dr. Sandra Miller, a professor in the Department of Anatomy and Biology in the Faculty of Medicine at McGill University in Montreal. Dr. Miller has long studied and conducted research of stem cells and the immune system including the body's natural killer (NK) cells.

Dr. Miller says, "Although further experiments are needed to support advancement into clinical development and research involving humans, the data show that CVT-E002 may have potential both in treating some forms of cancer as well as supporting the immune system during cancer treatment."

Mice with viral-induced leukemia were given different amounts of CVT-E002 or a placebo. Evaluation of the results showed there was a decrease of the leukemic immune cells to normal levels while at the same time there was an increase in the natural killer (NK) cells and monocytes which are known to be the first line of attack against cancer.

The data also indicate that CVT-E002 intake was associated with a statistically significant increase in survival rates in mice versus the placebo group. There were no observable adverse effects associated with CVT-E002 treatment.

CVT-E002 is in the early developmental phase for cancer. It has a U.S. patent for formulation and for many preventative, immune-related, therapeutic applications such as cold and flu infections, hepatitis, HIV, and primary and supportive cancer therapy.

CV Technologies president, CEO and Chief Scientific Officer, Dr. Jacqueline Shan says, "These are encouraging pre-clinical results but extensive clinical research needs to be performed to determine whether there may be any benefit in using CVT-E002 for either treating cancer or supporting the immune system during cancer therapies."

The study was conducted on behalf of CV Technologies and funded by the National Research Council under the Industrial Research Assistance Program (IRAP). It provides laboratory safety data and evidence of efficacy to support possible future clinical trials in cancer patients. Dr. Miller will be presenting her findings at the North American Research Conference on Complementary and Integrative Medicine (NARCC-IM) in Edmonton on May 27th.

ABOUT DR. SANDRA MILLER

Dr. Sandra Miller received her PhD from McGill University and has taught and conducted research at the institution for the past 30 years. She has also taught at the Baylor College of Medicine in Texas. She is on the Faculty of Medicine's Honors List for Educational Excellence, has served on the admissions committee for 14 years and was named the 2006 winner of the Canadian Association of Medical Educators Award. She has published 55 peer-reviewed research papers in 30 medical journals.

ABOUT McGILL UNIVERSITY

McGill University, one of Canada's leading universities, is a world-renowned research institution. Founded in 1821 in Montreal, it offers over 300 programs at the undergraduate, graduate and doctorate levels in 21 faculties to over 32,000 students.

ABOUT CV TECHNOLOGIES INC.

CV Technologies, founded in 1992, is a global leader in the development and commercialization of naturally derived, evidence based, clinically tested, medicines for disease prevention and health maintenance. The Company's leading product - COLD-fX™ - the top selling cold and flu remedy in Canada according to ACNielsen, strengthens the immune system and is widely used as a leading anti-cold, anti-flu, non-prescription treatment. COLD-fX's unique, patented mechanism of action was standardized according to the Company's ChemBioPrint (CBP) Process. The CBP process precisely identifies the chemical profile and biological activity of multi-active components in natural compounds. The CBP process provides a manufacturing protocol that ensures each batch of compound delivers verifiable and provable health benefits.

This news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results or events to differ materially from the results or events predicted in this document, including those comments predicting the timing and/or initiation of clinical trials, clinical trial results and associated regulatory clearances, new areas of potential development for our platform technology and whether or not those areas will be pursued, entry and timing of entry into the U.S. market and the potential success of such initiatives. Factors which could cause actual results or events to differ include, but are not limited to: the impact of competition; consumer confidence and spending levels; general economic conditions; interest and currency exchange rates; unseasonable weather patterns; the cost and availability of capital; the cost and availability of grants/funding; product development and the risk that clinical trials may not demonstrate the safety and efficacy required to satisfy the regulatory authorities. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. All forward-looking statements are expressly qualified in their entirely by this cautionary statement.

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