Vasogen and Grupo Ferrer Announce Initial Roll-out of Celacade - New Therapy for Chronic Heart Failure

    MISSISSAUGA, ON, Dec. 17 /CNW/ - Vasogen Inc. (NASDAQ:  VSGN; TSX:VAS) and
Grupo Ferrer Internacional, S.A. ("Ferrer"), a leading European pharmaceutical
and medical devices company, today announced the receipt of initial orders for
Vasogen's Celacade(TM) System in Germany. Celacade, a first-in-class therapy,
is the only CE Mark approved product that specifically targets the destructive
chronic inflammation underlying the development and progression of chronic
heart failure. Under the CE Mark, Celacade can be marketed in the 27 countries
that comprise the European Union and is indicated in the EU for the treatment
of New York Heart Association (NYHA) Class II patients and NYHA Class II, III,
& IV heart failure patients who do not have a prior history of heart attack.
    In the international ACCLAIM trial, Celacade was shown to significantly
reduce the risk of death or cardiovascular hospitalizations in large
pre-specified subgroups of patients with chronic heart failure, including NYHA
Class II patients, where risk was reduced by 39%, and NYHA Class II to IV
patients with no prior heart attack, where risk was reduced by 26%. The
commercial introduction of Celacade in the European Union provides physicians
and patients with a novel approach for the treatment of heart failure that is
safe and well tolerated and can be used in combination with currently approved
therapies for this condition.
    "The initial orders for the Celacade System are a major milestone for
Vasogen," commented Chris Waddick, President and CEO of Vasogen. "We are
extremely pleased that Ferrer has secured these orders so quickly after
completing key pre-marketing activities. We look forward to continuing our
close collaboration with Ferrer as we work to rapidly expand the use of
Celacade within the European Union."
    "We are firmly committed to the success of Celacade in Europe," commented
Dr. Carlos de Lecea, Vice President International and Business Development at
Ferrer. "We are very pleased that the initial orders are from sites who
participated in the ACCLAIM study, which we believe reflects the clinical
benefits of Celacade and the feedback the physicians received from patients."

    About Celacade:

    The Celacade System targets the inflammation underlying chronic heart
failure and other cardiovascular diseases. Inflammation is a normal response
of the immune system to cellular injury caused by infection, trauma, or other
stimuli. During the inflammatory process, immune cells release a number of
factors, including cytokines - potent chemical messengers that modulate
inflammation and facilitate the healing process. While this inflammatory
process is usually self-limiting, it can persist, become chronic, and lead to
a number of serious medical conditions.
    During a brief outpatient procedure, a small sample of a patient's blood
is drawn into Vasogen's Celacade single-use disposable cartridge and exposed
to controlled oxidative stress utilizing Vasogen's proprietary Celacade
medical device technology. Oxidative stress is a factor known to initiate
apoptosis, a physiologic process that is inherently anti-inflammatory. The
treated blood is then administered to the same patient intramuscularly. An
initial course of treatment comprising three consecutive outpatient procedures
is administered over a two-week period, and treatments are continued once per
month thereafter.

    About Grupo Ferrer Internacional, S.A.:

    Vasogen has entered into a collaboration with Grupo Ferrer Internacional,
a privately held European research and commercial development based
pharmacochemical and medical devices company headquartered in Barcelona,
Spain. Ferrer operates today in over 60 countries with the overall aim to
improve people's health and quality of life. Based on its policy of continuous
expansion throughout the world, Ferrer has established strong industrial and
commercial operations in Europe and has extensive commercial experience in
Latin America, Africa, and in the Middle and Far East. Ferrer has licensing,
distribution, and marketing agreements with large multinational pharmaceutical
companies, as well as mid-size firms, including AstraZeneca, Astellas, Johnson
& Johnson, Merck Sharp & Dohme, Novartis, Roche, Sanofi-Aventis, Solvay,
Cephalon, United Therapeutics, and The Medicines Co., among others.
    In addition to its commercial operations, Ferrer operates pharmaceutical
research and development facilities in Barcelona, Spain and Alsdorf, Germany.
The research facilities in Barcelona manage all aspects of drug development
from concept through to clinical development and product registration. The
Alsdorf facility is specialized in new applications of pharmaceutical
technology. Ferrer also has established research collaborations with a large
number of pharmaceutical companies and universities throughout the world.

    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 System,
is designed to activate the immune response to apoptosis - an important
physiological process that regulates inflammation. Celacade 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. VP025 is the lead drug candidate from this new

    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, plans to advance the development
of Celacade(TM) or VP025, plans to fund our current activities, statements
concerning our partnering activities, health regulatory submissions, strategy,
future operations, future financial position, future revenues and projected
costs. 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. These risks include, but are not limited to, the outcome of further
ongoing analysis of the ACCLAIM trial results, the requirement or election to
conduct additional clinical trials and the size and design of any such trials,
delays or setbacks in the regulatory approval process, difficulties in the
maintenance of existing regulatory approvals, 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.

    %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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