July 29, 2005 13:42 ET
CALGARY, ALBERTA--(CCNMatthews - July 29, 2005) - Resverlogix Corp. (TSX:RVX) is pleased to announce that it has established a wholly-owned subsidiary called RVX Therapeutics Inc. for business and strategic objectives. Resverlogix Corp. will still hold its primary asset - NEXVAS™ technology for cardiovascular applications. The purpose of RVX Therapeutics is to hold non-core assets (TGF-Beta Shield™ and others) that will develop separately from the NEXVAS technology. An independent third-party valuation group has been hired to provide the appropriate valuation for the transfer of this technology. This process is planned to occur imminently.
In addition, the Corporation wishes to announce the filing of their Annual Report and Annual Information Form with SEDAR. Please refer to www.sedar.com for the filings.
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 program NEXVAS™ applies advanced medical research to develop therapies that increase high density lipoprotein (HDL), the "good cholesterol," to treat cardiovascular diseases. The Corporation's second technology program TGF-Beta Shield™ utilizes an immunomodulating approach to target cancers and fibrotic diseases. Resverlogix Corp. is committed to integrity and sound business principles in building a successful research and development company. Resverlogix Corp. trades on the TSX under the symbol RVX. For further information, please visit the Corporation's 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.
The TSX does not except responsibility for the adequacy or accuracy of this news release.
Resverlogix Corp.Donald J. McCaffreyPresident/CEO(403) 254-9252 ext. 223(403) 256-8495 (FAX)Email: firstname.lastname@example.orgResverlogix Corp.Kenneth LebiodaVP Business & Market Development(403) 254-9252 ext. 227(403) 256-8495 (FAX)Email: email@example.comWebsite: www.resverlogix.com
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