Vasogen Announces Senior Management Changes

    TORONTO, April 11 /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 senior management changes that will
improve organizational efficiencies and help deliver additional cost
    Effective immediately, Christopher Waddick, MBA, CMA, Chief Operating
Officer of Vasogen, will also assume the title of Chief Financial Officer,
replacing Paul Van Damme, who has left the Company. Mr. Waddick has been with
Vasogen for the past 10 years and previously served as Vasogen's CFO from 1997
to 2005 prior to being appointed COO in 2005.
    Also effective immediately, Eldon R. Smith, OC, MD, FRCP(C), FAHA, Vice
President, Scientific Affairs, and a member of the Board of Directors of
Vasogen, will assume all responsibilities of the position of Chief Medical
Officer and Head of Cardiovascular Development previously held by Jay Kleiman,
MD, MPA, who has elected to retire. Dr. Smith has been with Vasogen since 1996
and has been responsible for developing and spearheading the Company's
cardiovascular programs. He is Professor Emeritus at the University of
Calgary, where he served as the Dean of the Faculty of Medicine. Dr. Smith is
past-President of the Canadian Cardiovascular Society and served as Chairman
of the Scientific Review Committee of the Heart and Stroke Foundation of
Canada. He is an Officer of the Order of Canada, and in 2006, was appointed
chair of the steering committee responsible for developing a new Heart Health
Strategy for Canada.
    "The changes we are announcing today will improve organizational
efficiencies as we continue to progress our Celacade technology towards
commercialization," commented Terrance H. Gregg, President and CEO of Vasogen.
"We remain focused on our efforts to conclude a partnership to support the
initial commercialization of Celacade in Europe, where our CE Mark regulatory
approval provides market access. We are also finalizing plans for a meeting
with the FDA in order to review the phase III ACCLAIM data and seek their
guidance with respect to the next steps in the regulatory pathway for Celacade
in the United States. I would like to sincerely thank Jay and Paul for their
contributions to Vasogen and wish them success in their future endeavours."

    About Vasogen:
    Vasogen is a biotechnology company engaged in the research and
development of therapies that target the damaging inflammation associated with
cardiovascular and neurodegenerative disorders. The Company's lead product,
the Celacade(TM) technology, is designed to trigger 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. The Company is also developing VP025, an early-stage new drug
candidate for the treatment of certain neurodegenerative diseases.

    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,,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890