ViRexx Medical Corp. Announces Approvals of Rights Offering

EDMONTON, ALBERTA--(Marketwire - August 01, 2008) - ViRexx Medical Corp. (TSX: VIR) (AMEX: REX) (“ViRexx”), a company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living. Its platform technologies include product candidates for the treatment of Hepatitis B, Hepatitis C, avian influenza viral infections, biodefence and nanoparticle applications, select solid tumors and late-stage ovarian cancer, today announced that further to its press release of July 16, 2008, ViRexx has received a final receipt from the Alberta Securities Commission and conditional approval from The Toronto Stock Exchange with respect to a rights offering by way of a Short Form Prospectus dated July 17, 2008 (“Final Prospectus”). A Form F-7, Registration Statement Under the Securities Act of 1933, has also been filed with the Securities and Exchange Commission.