Resverlogix Corp.

Resverlogix Corp.

March 21, 2005 09:00 ET

Resverlogix Completes First Stage of RFP Process with Leading Global Pharmaceutical Organizations


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RESVERLOGIX CORP.

TSX SYMBOL: RVX

MARCH 21, 2005 - 09:00 ET

Resverlogix Completes First Stage of RFP Process with
Leading Global Pharmaceutical Organizations

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - Resverlogix Corp.
("Resverlogix") (TSX:RVX), completes the first stage of its previously
announced Request For Proposal (RFP) process with seven leading global
pharmaceutical organizations for an exclusive standstill agreement
regarding its NEXVAS™ technology in Cardiovascular Disease.

"We are pleased to confirm that the first stage of the RFP process, that
was announced last December, has been completed. Seven world leading
innovative pharmaceutical organizations have officially agreed to
participate in corporate and scientific information sessions regarding
our exciting NEXVAS™ technology in Cardiovascular Disease, stated
Donald McCaffrey President and CEO of Resverlogix. "The organizations
that are participating in this process are global leaders in providing
innovative cardiovascular and metabolic medicines to the world. We
believe that this process is a very exciting opportunity for both
Resverlogix and the seven participating companies given that Apo A1/HDL
enhancing technologies have enormous potential to significantly reduce
cardiovascular disease worldwide."

Resverlogix has commenced the second stage of the RFP process which will
occur over the next two months. The scheduled time frame for the final
RFP bid and the candidate selection process is late spring of 2005. A
minimum bid of $15,000,000 USD has been set. The RFP process does not
transfer ownership of any technology or assets held by Resverlogix;
however it does offer the winning candidate an 18-month standstill
agreement. The standstill agreement will supply the winning candidate
with exclusive due diligence and right of first refusal to acquire
Resverlogix during the agreement timeframe. Resverlogix has the
unilateral right to abandon or postpone this process at anytime.

About Resverlogix Corp.

Resverlogix Corp. is a Canadian biotechnology company engaged in the
discovery and development of biopharmaceuticals. Combining expertise
with innovation, Resverlogix's lead technology NEXVAS™, applies
advanced medical research to develop therapies that increase high
density lipoprotein (HDL), the "good cholesterol," to treat
cardiovascular diseases. The Company's second technology TGF-Beta
Shield™ utilizes an adoptive immunomodulating therapy approach to
target cancers and fibrotic diseases. Resverlogix Corp. is committed to
applying the qualities of innovation, integrity and sound business
principles in developing novel therapies for the treatment of unmet
human diseases. Resverlogix Corp. trades on the TSX under the symbol
RVX. For further information, please visit our web site at:
www.resverlogix.com.

This news release may contain certain forward-looking statements that
reflect the current views and/or expectations of Resverlogix Corp. with
respect to its performance, business and future events. Such statements
are subject to a number of risks, uncertainties and assumptions. Actual
results and events may vary significantly.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Resverlogix Corp.
    Donald J. McCaffrey
    President/CEO
    (403) 254-9252 ext. 223
    (403) 256-8495 (FAX)
    Email: don@resverlogix.com
    or
    Resverlogix Corp.
    Kenneth E. Lebioda
    Vice President Business Development
    (403) 254-9252 ext. 227
    (403) 256-8495 (FAX)
    Email: ken@resverlogix.com
    Website: www.resverlogix.com
    The TSX does not accept responsibility for the adequacy or accuracy of
    this news release.