Vancouver (March 25th, 2004): The Canadian Genetic Diseases Network's long-standing commitment to fostering economic growth in Canada has been validated again by the $76 million Cdn of private equity financing of Aspreva Pharmaceuticals Corp.

CGDN has long been committed to finding new ways of making drugs available to patients with less common illnesses, as evidenced by the Network's support of Dr. Charles Scriver's research on Phenylketonuria (PKU). This commitment led to CGDN investigating the potential for an orphan drug company in Canada. In 2001, Mr. Noel Hall, Dr. Michael Hayden and Mr. Richard Glickman, 3 BC scientists and entrepreneurs who were involved in the initial discussions, crystallized this opportunity by creating Aspreva Pharmaceuticals.

Aspreva's $76 million Cdn in private equity financing represents the biotech industry's largest single round of private funding in the world in 2004 and among the largest private fundings in Canadian biotech history.

"Since 2000, CGDN's associated companies have raised over $200 million and created over 150 jobs," said Dr. Ron Woznow, CEO of the CGDN. "We are proud of CGDN's catalytic role in creating new Canadian biotechnology companies and we will continue with our commitment to assisting Canadian scientists with the development of new and innovative treatments for patients in Canada and around the world."

Aspreva identifies, develops and commercializes new applications for existing drugs, with a focus on those medications that can be used to treat rare and often overlooked diseases. This unique approach has facilitated the company's partnership with Hoffmann-La Roche Ltd. The $76 million Cdn in financing will fund clinical trials of Hoffmann-La Roche's drug "CellCept" in the treatment of Lupus and other rare autoimmune disorders. CellCept was originally developed to promote successful organ transplantation.

About the Canadian Genetic Diseases Network
The Canadian Genetic Diseases Network, part of the Federal Government's Networks of Centres of Excellence program, is a not-for-profit corporation committed to advancing Canada's scientific and commercial competitiveness in genetic research, and the application of genetic discoveries to prevent, diagnose, and treat human disease. To achieve its objectives, CGDN participates in three essential activities: facilitates and funds collaborative research in human genetics across Canada; educates emerging scientists to excel in human genetic disease research; and facilitates partnerships between industry and academia to translate research discoveries into innovative therapies or diagnostic tests.