GRAND RAPIDS, MI--(Marketwire - August 18, 2008) - Oncologix Tech Inc. (OTCBB: OCLG) announced today the signing of an Asset Purchase Agreement with Institut für Umwelttechnologien GmbH, a German company ("IUT") of Berlin, Germany, under which Oncologix is to sell all of the assets pertaining to its Oncosphere product to a newly organized subsidiary of IUT called "IUT Medical, GmbH" ("IUTM"). The agreement is subject to the approval of the Oncologix shareholders and to the agreement of the University of Maryland to certain changes in the Master License Agreement whereunder the University licenses the technology underlying the Oncosphere product.
