HemoCleanse, Inc. Announces the Formation of HemoCleanse Technologies, LLC

New Company To Focus on Next Generation Liver Dialysis Unit

Tuesday, October 23, 2003 7:41 AM EST - - - Today HemoCleanse Inc., a Lafayette, Indiana developer of extracorporeal and vascular access medical devices, announced the formation of HemoCleanse Technologies, LLC to focus on the development of its next generation liver dialysis unit.

Mr. Robert B. Truitt, President and CEO of HemoCleanse, Inc., said, "We have been focusing for the last two years on the development of a simple, cost-effective, sorbent-based liver dialysis unit to replace the more complicated first generation device, the BioLogic-DT System, which was cleared by the FDA for market in 1996. Clinical results have shown this early device to be effective in the treatment of acute encephalopathy due to decompensation of chronic liver disease such as Hepatitis C and in the treatment of drug overdose, but the therapy was very costly. Our next generation device will be capable of converting any kidney dialysis unit into a liver dialysis unit, placing this therapy within the economic reach of chronic liver disease patients worldwide."

HemoCleanse Technologies expects to complete its engineering prototype in the 1st Quarter 2004, positioning the Company for a corporate partnership or strategic alliance to move the technology to the marketplace.

HemoCleanse, Inc. was co-founded by Truitt and Dr. Stephen R. Ash, Chairman and Director, Research and Development, in 1989. Dr. Ash, a practicing nephrologist with the Arnett Clinic in Lafayette, Indiana, is a world-recognized researcher in extracorporeal devices, sorbent chemistry, and vascular and peritoneal access devices. HemoCleanse and HemoCleanse Technologies are all located in Lafayette, Indiana at the INOK Business Center.

A website for the new company will be available at http://www.hemocleanse.com/TechnologiesLLC/ in the coming months.

This press release contains forward-looking statements, which if not based on historical facts, involve risks and uncertainties. Our actual results may differ materially from the results or events stated in the forward-looking statements, including, but not limited to, certain events not within the Company's control.

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