NANO-PHARMACEUTICAL PROJECT UPDATE

September 04, 2003 

Advectus Life Sciences Inc. (Vancouver, B.C.) announced today that it has acquired an option from Immune Network Ltd. (www.immunenetwork.com, IMMFF.NASD) which if exercised would give the Company an exclusive worldwide interest in a new nanotechnology-based formulation for the treatment of Alzheimer’s disease based on compositions that penetrate the "blood-brain barrier" (BBB) with existing drugs.

Under the terms of the agreement executed today, Advectus will commence development and commercialization work on the new nano-pharmaceutical product upon satisfactory completion of its due diligence process. Advectus will pay option fees over a period of up to six months of due diligence, at any time during which it may enter into a worldwide exclusive license on the joint technology. The terms of the license agreement include an upfront licensing fee of CAD$100,000, a milestone payment of CAD$100,000 upon first clinical trial commencement, and in cash / or equity CAD$5,000,000 upon first marketing approval.

The collaborative and licensing agreement will initially focus on a product leveraging Immune Network's Phase 2 clinical trial results in Alzheimer’s disease. Preliminary evidence suggests that certain nano-pharmaceutical formulations may improve the potency and safety of dapsone for Alzheimer’s disease, an existing drug which is FDA-approved for other indications.

Advectus is a nanotechnology company focused on pharmaceutical formulations that allow existing drugs to penetrate the BBB and reach their intended site of action in the brain to treat major and life-threatening diseases.

The agreement and the exercise of the option may be subject to regulatory approval.

For more information about Advectus Life Sciences Inc., visit our website: http://www.advectuslifesciences.com

ON BEHALF OF THE BOARD OF ADVECTUS LIFE SCIENCES INC.

James H. Disher,President and Director

Telephone: (604) 926-6098

Facsimile: (604) 926-4398

Investor Relations: (888) 926-6098

E-mail:

Website: http://www.advectuslifesciences.com

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