SOURCE: Rheologics Technologies, Inc.

July 28, 2006 09:50 ET

Rheologics Technologies Inc. Announces Placement of Rheolog™ Blood Viscometer at Canadian Centre for Advanced Eye Therapeutics

SINKING SPRING, PA -- (MARKET WIRE) -- July 28, 2006 -- Rheologics Technologies, Inc. (PINKSHEETS: RTGI) ("Rheologics"), the leader in the study of blood viscosity and its relationship to cardiovascular and vascular diseases, is pleased to announce that the Canadian Centre for Advanced Eye Therapeutics ("CCAET") has acquired a Rheolog™ blood viscometer.

Based in Toronto, CCAET is a leading ophthalmic research and clinical care center specializing in retinal diseases, incorporating the largest integrated care program for retinal diseases in Canada and one of the largest and most sophisticated such programs in the world. The CCAET provides advanced surgical and medical care to a population region of over 6 million people, while serving as a hub for clinical research.

Chief Scientific Officer of Rheologics Kenneth R. Kensey, MD said, "Hyperviscous blood is fully accepted by clinicians within the sub-specialty of ophthalmology as related to many chronic and acute disorders. It is my expectation that the acquisition of a Rheolog™ system by the Canadian Center for Advanced Eye Therapeutics will aid their researchers in creating innovative treatments for patients, particularly those with retinal venous occlusive diseases, and advance the standard of care in their field."

Rheologics' current diagnostic offering, called the Rheolog™, is an IDE-exempt device that measures whole blood viscosity, a basic human physiologic parameter. The Rheolog™ is being used in clinical research settings to aid physicians in the interpretation of disease conditions. At present, the technology has completed its beta stage and is being readied for commercialization. The Rheolog™ is also being used extensively for research in the development of therapeutic interventions that address the root cause of cardiovascular disease.

About the Canadian Centre for Advanced Eye Therapeutics

The vision of the Canadian Centre for Advanced Eye Therapeutics and Ophthalmic Consultant Centres is to provide the highest quality of eye care for patients both in Canada as well as internationally. A cornerstone of this is excellence in clinical research as demonstrated by being selected for three pivotal FDA trials in the past year. CCAET delivers the most advanced and relevant technologies to patients for the management of complex eye diseases. For more information, please visit their website at www.retinamd.ca

About Rheologics Technologies, Inc.

Rheologics Technologies, Inc. is committed to developing and commercializing innovative medical products that significantly improve the diagnosis and treatment of human disease and that assist in the development of new drug compounds. The Company is accomplishing its mission by monitoring an overlooked basic physiological parameter -- whole blood viscosity. Rheologics believes that its proprietary innovations will ultimately enable the preventative diagnosis of diseases and the development of new cost-effective therapies that conquer today's most difficult medical problems, thereby improving the quality of life for millions of people worldwide. Further information on Rheologics may be found at www.rheologics.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding the following: the Company's beliefs about the benefits of its technology; the Company's expectations of its technology; the Company's beliefs about the performance capabilities of its technology; the Company's ability to commercially license its technology; the ability of the Company to hire employees sufficient to accelerate engineering and testing; and the Company's beliefs regarding its research and development efforts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, our inability to achieve commercial acceptance of our technology, our inability to compete effectively in the marketplace, our inability to improve or implement effective systems, procedures and controls, the strength of our patent and pending patents and other intellectual property and those of our competitors, our inability to protect our intellectual property, our inability to attract, train and retain key personnel, and such other risks. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

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