San Diego, CA – January 4, 2005 - TargeGen, Inc., a biopharmaceutical company focusing on edema, cardiovascular (ischemic) diseases, eye disease and cancer, today announced that the Company has initiated a 100 patient Phase I/II clinical trial of TG100-115, a potent selective PI3-kinase inhibitor that has demonstrated the ability to suppress vascular leakage (edema) and significantly reduce infarct size in pre-clinical models of acute myocardial infarction (heart attack).

Acute Myocardial Infarction (AMI) is the number one disease related cause of death in the developed world with approximately 2.1 million new cases per year in the USA, Western Europe and Japan. Following a heart attack, the condition of hypoxia (oxygen deprivation) activates kinase signaling cascades which cause biochemical changes to blood vessels that permit leakage and inflammation. The leakage out of the vasculature contributes to microcirculatory collapse, heart tissue damage and ultimate infarct size. TG100-115, when administered intravenously, has been designed to block vascular leakage and inflammation following an ischemic event. By preventing vascular leakage and reducing inflammation related reperfusion injury, heart muscle tissue is preserved.

“The initiation of this trial is an important milestone for TargeGen” stated Peter G. Ulrich, president, CEO and Co-Founder of TargeGen. “TG100-115 is an important new first in class drug candidate that potentially addresses a leading cause of death and morbidity worldwide. In addition to TG100-115, TargeGen is developing TG 100-435, an orally available compound for oncology and edema indications and TG 100-344 for eye diseases (macular edema). All current TargeGen compounds to date have been internally discovered and developed.

About TargeGen, Inc.

TargeGen, Inc., is a privately held vascular biology-focused biopharmaceutical company based in San Diego, CA. TargeGen is developing novel small molecule therapeutics to treat edema, cancer and ischemic diseases (heart attack, stroke) by targeting certain biochemical processes associated with the formation and repair of blood vessels and vascular permeability (edema).

TargeGen, which initiated operations in 2002, has raised more than $40M from top tier venture capital sources. Key investors include Forward Ventures, Enterprise Partners, William Blair Capital Partners, VantagePoint Venture Partners, China Development Industrial Bank (CDIB), A.M. Pappas & Associates and other investors.

For additional information, contact:

TargeGen, Inc.
9393 Towne Centre Drive
Suite 120
San Diego, CA 92121
Tel 858-678-0760
Fax 858-678-0762
info@targegen.com
http://www.targegen.com