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VaxGen Files First Quarter 2007 Financials
Date:9/21/2007

SOUTH SAN FRANCISCO, Calif., Sept. 21 /PRNewswire-FirstCall/ -- VaxGen, Inc. (Pink Sheets: VXGN) announced today that it has filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the quarter ended March 31, 2007. The report can be found at the link titled "SEC Filings" in the Investor Relations section of VaxGen's web site at http://www.vaxgen.com.

(Logo: http://www.newscom.com/cgi-bin/prnh/19991112/VAXGENLOGO)

The only financial statements the company has outstanding before it regains compliance with its SEC financial reporting obligations are the Quarterly Report on Form 10-Q for the quarter ended June 30, 2007, which is currently under review by VaxGen and its independent auditors. Once VaxGen is current with its financial statements, the company intends to apply for listing on a national stock exchange.

About VaxGen

VaxGen is a biopharmaceutical company based in South San Francisco, California. For more information, please visit the company's web site at http://www.vaxgen.com.

Note: This press release contains "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements include without limitation, statements regarding the anticipated filing of the company's outstanding quarterly reports and its application for listing of its common stock. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release. VaxGen undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.


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