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MIGENIX Corporate Update and Requisition of Special Meeting
Date:7/8/2008

Board and Management Focused on Near-Term Milestones and Maintain

Commitment to Strategy

VANCOUVER and SAN DIEGO, July 8 /PRNewswire-FirstCall/ - MIGENIX Inc. (TSX: MGI, OTC: MGIFF), a clinical-stage developer of drugs for infectious diseases, has received a requisition for a special meeting of shareholders for the purpose of acquiring control of MIGENIX's board of directors (see "Requisition of Shareholder Meeting"). Management and the board maintain their commitment to all MIGENIX shareholders to create value based on our existing pharmaceutical product development strategy and are continuing to work diligently on opportunities to create value (see "Program Update").

Jim DeMesa, M.D., President and CEO of MIGENIX stated, "Since announcing our strategic plan in 2002, management has maintained a focus on achieving the objectives outlined in that plan to build long-term value for our shareholders. Familiar to all in the biotech space, drug development is a long, risky process with many setbacks. We have been navigating that course and are now on the verge of some of the results of our strategy. Importantly, we are very close to a pivotal milestone for our latest-stage product candidate - Omigard(TM), with Phase III clinical results expected before the end of the calendar year (see "Program Update" below). Armed with positive results from this study, our partner in this program, Cadence Pharmaceuticals, plans to submit a New Drug Application (NDA) for marketing approval of Omigard(TM) in the United States in the first half of calendar 2009 - which is a significant event for any biotech or pharmaceutical company. Also, with positive Phase III results, we expect to partner the additional commercial rights to Omigard to maximize revenue to the Company for further value creation. This is in addition to the potential US$27MM in milestone payments under our agreement with Cadence and double digit royalty revenue on net sale
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SOURCE MIGENIX Inc.
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