Resverlogix Board of Directors Update

    Provides shareholders with an update on strategic review activities

    TSX Exchange Symbol: RVX

    CALGARY, Sept. 3 /CNW/ - On behalf of Resverlogix Corp. ("Resverlogix" or
the "Company") (TSX:RVX) the Board of Directors, due to the recent advancement
of various discussions with third parties, feel it is prudent to update the
market as to activities surrounding a previously announced strategic review
process of January 25, 2007. One strategic review option currently under
evaluation by the Company is an offer to out-license the Company's NexVas(TM)
PR technology for cardiovascular indications to a single Asian country in
order to generate non dilutive equity while continuing to further the
development of our cardiovascular programs. As a result of the progression of
term discussions with more than one Asian pharmaceutical group in this regard,
the Board has directed management to proceed with the option for a one country
licensing deal concurrently with global deal discussions. To this end,
Resverlogix has received a mutually acceptable non-binding proposal for the
licensing of NexVas PR and will seek to further advance negotiations. No time
frame or terms will be released at this time as there is currently no
guarantee that this process will result in a completed licensing deal.
    The Board of Directors is also pleased to update shareholders on the
ongoing strategic review process pertaining to various types of global
partnership deals relating to the NexVas PR technology. Currently, there are
three global pharmaceutical companies who are in the process of performing
extensive due diligence on NexVas PR and other Resverlogix technologies.
Management is also in ongoing discussion with numerous other groups that have
shown interest in the NexVas PR technology. The Board is cautious to add that
any potential transactions are subject to an extensive negotiation process and
there can be no assurance that they will be finalized or that they will result
in any specific transaction that will be acceptable to the Company. Management
and the Board of Directors will continue to monitor ongoing developments and
update the market when deemed appropriate or required.

    About Resverlogix Corp.

    Resverlogix Corp. is a leading biotechnology company engaged in the
development of novel therapies for important global medical markets with
significant unmet needs. The NexVas(TM) program is the Company's primary focus
which is to develop novel small molecules that enhance ApoA-I production
within one's own body. These vital therapies address the grievous burden of
atherosclerosis and other important diseases such as acute coronary syndrome,
diabetes, Alzheimer's disease and other vascular disorders. The Company's
secondary focus is TGF-Beta Shield(TM), a program that aims to address
burgeoning grievous diseases, such as cancer and fibrosis. Resverlogix Corp.
trades on the Toronto Stock Exchange (TSX:RVX). For further information please

    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 Exchange does not accept
responsibility for the adequacy or accuracy of this news release.

    %SEDAR: 00019253E

For further information:

For further information: Theresa Kennedy, VP, Corporate Communications,
Resverlogix Corp., Phone: (604) 538-7072, Email:;
Sarah Zapotichny, Manager, Investor Relations, Resverlogix Corp., Phone: (403)
254-9252, Email:; Website:

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