Vyrex Corporation and NIH Sign Cooperative Research and Development Agreement.

Business Editors/Health & Medical Writers

BIOWIRE2K

SAN DIEGO--(BW HealthWire)--Aug. 14, 2002

Vyrex Corporation (OTCBB:VYRX) has entered into a Materials Cooperative Research and Development Agreement (M-CRADA) with the National Institute of Neurological Disorders and Stroke (NINDS), a branch of the National Institutes of Health (NIH). The title of the collaboration is the "Prevention of delayed cerebral vasospasm by Panavir(R) in a primate model of subarachnoid hemorrhage."

Subarachnoid hemorrhage (SAH) typically results from the rupture of a berry aneurysm or arteriovenous malformation (AVM) in the brain. In the U.S. the mortality rate reaches as high as 40% within the first week for patients suffering ruptured intracranial aneurysms. Delayed cerebral vasospasm induced by SAH contributes significantly to the morbidity and mortality of SAH. Despite extensive investigative efforts, there are almost no treatments that can prevent SAH-induced delayed cerebral vasospasm.

Panavir(R), Vyrex's patented, proprietary formulation of probucol, is a more available and safer form of probucol than older formulations of this drug. There is recent evidence that probucol, significantly improves endothelium-dependent relaxation in rats. Such an effect might be expected to prevent SAH-induced delayed cerebral vasospasm.

"Panavir(R) is a drug that Vyrex has been interested in since its inception," remarked Dr. Sheldon S. Hendler, Ph.D., M.D., Chairman of Vyrex Corporation. "Probucol was at one time marketed in the U.S. as a cholesterol-lowering agent. It is also a potent antioxidant and has antiviral, anti-HIV and anti-inflammatory activities, as well. More recently, probucol has been shown to preserve endothelial function and to attenuate left-ventricular dysfunction and remodeling in tachycardia-induced heart failure. We are very pleased to enter into this M-CRADA agreement with NINDS and are hopeful that Panavir(R) might ultimately emerge as a drug for the prevention of the dire consequences of SAH-induced delayed cerebral vasospasm."

G. Dale Garlow, President and CEO of Vyrex, states, "I am pleased with the NINDS's interest in this potential indication for Panavir(R). Vyrex has always had high expectations for this drug and we are now encouraged that some of these expectations may be realized. Vyrex will furnish Panavir(R) and consulting advice and the NIH will fund and perform the studies."

Vyrex Corporation is a La Jolla, California based Biopharmaceutical Company seeking to discover and develop pharmaceutical and nutraceutical products for the treatment and prevention of respiratory, cardiovascular and neurodegenerative diseases and conditions associated with aging. To date the Company has focused on developing targeted anti-oxidant therapeutics for respiratory, neurological and cardiovascular diseases and the development of nutraceuticals for the dietary support of certain age related conditions.

This press release contains, in addition to historical information, forward-looking statements that involve substantial risk and uncertainty. There can be no assurance that the opinions, beliefs or predictions contained in this press release regarding technologies or operations will be realized in whole or in part. Any restrictions or representations, written or oral, concerning the information contained herein, or opinions regarding future events are solely forward-looking and actual results may be materially different from predictions. There can be no assurance given to actual results of future events.