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MIGENIX Reports First Quarter Fiscal 2009 Financial Results
Date:9/15/2008

orld territories. We expect a license agreement or agreements with up-front payment(s), milestones and royalty terms to be completed after positive CLIRS trial results.

Omiganan (CLS001; topical cationic peptide; treatment of dermatological diseases): Cutanea Life Sciences ("Cutanea"), our development and commercialization partner for CLS001, is preparing to initiate its Phase III clinical program. As part of its plan to submit a NDA in 2011, Cutanea expects:

- in the first quarter of calendar 2009, to initiate chronic toxicology

studies, specifically the required dermal carcinogenicity study,

which Cutanea expects will be the rate limiting activity for

submission of the NDA; and

- in the second half of calendar 2009, to initiate its Phase III

clinical study program (previously Cutanea was targeting the end of

2008).

Celgosivir (MX-3253; oral alpha-glucosidase I inhibitor; treatment of chronic hepatitis C virus infections): Following the report of interim results from a Phase II viral kinetics study of hepatitis C virus treatment-nave patients in July 2008, we are continuing to seek strategic options for advancing the development of celgosivir and are currently in key partnering discussions.

MX-2401 (IV lipopeptide; treatment of gram-positive bacterial infections): MX-2401, an injectable lipopeptide, is being developed for the treatment of serious gram positive bacterial infections, including highly publicized treatment resistant hospital bacteria such as MRSA. We expect MX- 2401 to be our next clinical candidate as it represents a highly competitive intravenous agent for treating serious infections caused by drug-resistant bacteria for which there are currently very few effective solutions. With a view to our current financial resources, the focus of activities in this program is to increase the level of business development and scientific publication initiatives, includin
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