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Vasogen Announces 2007 Year-End Results
Date:1/16/2008

l supplies 1,363 1,211

Tax credits recoverable 1,565 1,327

Prepaid expenses and deposits 787 1,384

Change in fair value of forward foreign exchange

contracts 376 -

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27,636 40,752

Property and equipment 414 615

Acquired technology - 253

Deferred financing costs - 150

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$ 28,050 $ 41,770

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Liabilities and Shareholders' Equity

Current liabilities:

Accounts payable $ 1,175 $ 3,369

Accrued liabilities 3,519 5,067

Current portion of senior convertible notes

payable - 8,754

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4,694 17,190

Shareholders' equity:

Share capital:

Authorized:

Unlimited common shares, without par value

Issued and outstanding:

22,391,386 common shares (2006 - 15,665,134) 365,670 344,217

Warrants 16,725 11,390

Contributed surplus 22,744 20,347


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SOURCE Vasogen Inc.
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