Chris Waddick Appointed President and CEO of Vasogen

    MISSISSAUGA, ON, June 20 /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 that Chris Waddick, MBA, CMA, has been
appointed President and CEO of Vasogen, succeeding Terrance Gregg, who will
remain as Chairman of the Board of Directors. Mr. Waddick, who previously
served as Chief Operating Officer and CFO, has held a series of progressive
senior management positions with Vasogen over the past twelve years. During
his tenure, Mr. Waddick has played a key role in Vasogen's development and
strategic direction and has been responsible for the operations of the Company
since 2005. Concurrent with his appointment as President and CEO, Mr. Waddick
has also been appointed to the Board of Directors of Vasogen.
    "Chris has been a key driver behind the operational success at Vasogen
for over ten years and has an exceptional track record of performance and
demonstrated leadership," commented Terrance Gregg, Chairman of the Board of
Vasogen. "Having worked closely with Chris, I have every confidence in his
ability to lead Vasogen to commercialization. I look forward to continuing to
oversee the strategic direction of the Company as we enter a very exciting
stage of development."
    "I am pleased to assume the role of President and CEO of the Company that
I have helped to build over the past 12 years," commented Chris Waddick,
President and CEO of Vasogen. "Having recently announced our collaboration
with Grupo Ferrer for the commercialization of our lead product Celacade in
the European Union and, as we work with the FDA to finalize the regulatory and
product approval pathway for Celacade in the United States, I look forward to
the continued development of our novel technologies targeting the inflammation
underlying a number of serious diseases."
    Mr. Gregg, who resides in southern California, has today been named
President and CEO of DexCom, Inc., a San Diego-based company focused on
technologies for the continuous monitoring of glucose in people with diabetes.
Mr. Gregg has spent the majority of his career developing technologies for
diabetes management and this new appointment provides an opportunity for him
to continue his passion for improving the lives of people with this disease.

    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(TM) is
in late-stage 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 partners, 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,,

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