Vasogen Announces Effective Date for Reverse Stock Split



    TORONTO, April 16 /CNW/ - Vasogen Inc. (NASDAQ:  VSGN; TSX:VAS), a
biotechnology Company focused on the research and commercial development of
technologies targeting the chronic inflammation underlying cardiovascular and
neurological disease, today announced the implementation of a one-for-ten
reverse split (consolidation) of the Company's common stock that was approved
by Vasogen's shareholders at its annual shareholder meeting held on April 3,
2007.
    Vasogen's common stock will begin trading on a split-adjusted basis on
the NASDAQ and TSX when the market opens for trading on April 17, 2007. For a
period of 20 trading days beginning April 17, 2007, Vasogen's common stock
will trade on a post-split basis on the NASDAQ under the trading symbol
"VSGND" as an interim symbol to denote its new status. After this 20 trading
day period, Vasogen's common stock will resume trading on the NASDAQ under the
symbol "VSGN."  The trading symbol for Vasogen on the TSX will remain
unchanged.
    The reverse split is intended to broaden Vasogen's institutional investor
base and help the Company regain compliance with NASDAQ's $1.00 minimum bid
price listing requirement by increasing the share price as a result of
decreasing the number of shares, warrants, and options outstanding. 
Additional information regarding the reverse split can be found in the
Company's 2007 Management Proxy Circular available at www.vasogen.com/sec/ar.
The reverse split will not affect any shareholders' percentage ownership in
the Company, except to the extent that the Company will not issue fractional
shares of common stock following the reverse split.
    Vasogen had 174,739,990 shares of common stock issued and outstanding at
the end of trading on April 13, 2007. When the market opens on April 17, 2007,
there will be approximately 17,473,999 shares issued and outstanding, subject
to rounding down for fractional shares and no warrants or options being
exercised in the interim.

    About Vasogen:

    Vasogen is a biotechnology company engaged in the research and commercial
development of therapies designed to target the destructive inflammatory
process associated with the development and progression of cardiovascular and
neurodegenerative disorders. The Company's lead product, the Celacade(TM)
technology, is designed to activate the immune response to apoptosis - an
important physiological process that regulates inflammation. Celacade is in
late-stage clinical development for the treatment of chronic heart failure and
has received European regulatory approval under the CE Mark for this
indication. Vasogen is also developing a new class of drugs for the treatment
of certain neuro-inflammatory disorders and is preparing to advance VP025, the
lead drug candidate from this new class, into phase II development.

    Certain statements contained in this press release, or elsewhere in our
public documents constitute "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and/or
"forward-looking information" under the Securities Act (Ontario). These
statements may include, without limitation, summary statements relating to
results of the ACCLAIM trial in patients with chronic heart failure, plans to
advance the development of Celacade(TM), plans to fund our current activities,
statements concerning our partnering activities and health regulatory
submissions, strategy, future operations, future financial position, future
revenues, projected costs, prospects, plans and objectives of management. In
some cases, you can identify forward-looking statements by terminology such as
"may", "will", "should", "expects", "plans", "anticipates", "believes",
"estimated", "predicts", "potential", "continue", "intends", "could", or the
negative of such terms or other comparable terminology. We made a number of
assumptions in the preparation of these forward-looking statements, including
assumptions about the nature, size and accessibility of the market for
Celacade in the treatment of chronic heart failure, particularly in Europe,
the regulatory approval process leading to commercialization and the
availability of capital on acceptable terms to pursue the development of
Celacade, and the feasibility of additional trials. You should not place undue
reliance on our forward-looking statements which are subject to a multitude of
risks and uncertainties that could cause actual results, future circumstances
or events to differ materially from those projected in the forward-looking
statements. These risks include, but are not limited to, the outcome of
further analysis of the ACCLAIM trial results, the requirement or election to
conduct additional clinical trials, delays or setbacks in the regulatory
approval process, securing and maintaining corporate alliances, the need for
additional capital and the effect of capital market conditions and other
factors on capital availability, the potential dilutive effects of any
financing, risks associated with the outcomes of our preclinical and clinical
research and development programs, the adequacy, timing and results of our
clinical trials, competition, market acceptance of our products, the
availability of government and insurance reimbursements for our products, the
strength of intellectual property, reliance on subcontractors and key
personnel, losses due to fluctuations in the U.S.-Canadian exchange rate, and
other risks detailed from time to time in our public disclosure documents or
other filings with the Canadian and U.S. securities commissions or other
securities regulatory bodies. Additional risks and uncertainties relating to
our Company and our business can be found in the "Risk Factors" section of our
Annual Information Form and Form 20-F for the year ended November 30, 2006, as
well as in our later public filings. The forward-looking statements are made
as of the date hereof, and we disclaim any intention and have no obligation or
responsibility, except as required by law, to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.  Unless otherwise indicated, numerical values indicating
the statistical significance ("p-values") of results included in this document
are based on analyses that do not account for endpoint multiplicity.
    %SEDAR: 00001047E          %CIK: 0001042018




For further information:

For further information: Glenn Neumann, Investor Relations, 2505
Meadowvale Blvd., Mississauga, ON, Canada, L5N 5S2, tel: (905) 817-2004, fax:
(905) 569-9231, www.vasogen.com, investor@vasogen.com

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VASOGEN INC.

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