EDMONTON, ALBERTA--(Marketwire - October 17, 2007) - ViRexx Medical Corp. (“ViRexx”)(TSX: VIR) (AMEX: REX) has disseminated by way of previous news releases information regarding the issues associated with the payment by ViRexx to Defiante Farmaceutica Lda (“Defiante”), a subsidiary of Sigma Tau Finanziaria S.p.A. (“Sigma Tau”) of certain manufacturing costs in an amount equal to the premium paid by Defiante on the purchase by Defiante of 1,818,182 shares of ViRexx for $1.10 per share. ViRexx and Sigma Tau/Defiante have concluded, based on recent discussions held between those companies, to reconcile any misunderstanding which may have developed concerning this matter. ViRexx apologizes to Sigma Tau for any aspersions its previous press releases may have cast on Sigma Tau or its subsidiaries. It was never intended to suggest any wrong doing on the part of Sigma Tau or any of its subsidiaries. This means that ViRexx International and Sigma Tau along with Defiante and Tecnogen will continue together, pursuant to the Sublicense and Manufacturing and Distribution Agreements to prepare for the manufacture and distribution of ViRexx’s lead product OvaRex® MAb in the countries of Europe for which ViRexx International has the rights. Consequently, ViRexx International will pay to Defiante the amount for manufacturing costs that has been previously questioned.
