Ottawa, ON, Canada – October 18, 2005 – Liponex Inc. (LPX-T), a biopharmaceutical company specializing in developing advanced products related to High Density Lipoprotein (HDL), often called "good cholesterol," today announced the appointment of Kenneth Sokoll to the position of Vice President of Drug Development, effective November 1.

Mr. Sokoll has eleven years of experience in the pharmaceutical/vaccine development, quality control, quality assurance, manufacturing and regulatory fields. His work has been published in multiple peer-reviewed publications and he holds a number of patents in the drug delivery area. In addition, Mr. Sokoll has received prestigious awards, scholarships and has been the principal investigator (P.I.) or co-P.I. on several grants for his work in life sciences, including the Marie Curie Fellowship grant and an NIH development contract for the development of an HIV vaccine.

"This position will enable me to put to use my many years of experience in the life sciences and biopharmaceuticals sectors," said Kenneth Sokoll, about his new position. "The company’s primary drug candidate shows great promise for having tremendous effects on heart disease and I am excited to be a part of that. Liponex’s novel mechanism of drug delivery is also an area I look forward to working on."

Liponex recently announced an improved formulation for its primary drug candidate, CRD5, on which Liponex’s drug development team will be focused for the coming months.

CRD5 is being developed to treat and prevent heart disease by increasing the level of HDL in the blood and controlling the actions of HDL in the body. It was demonstrated to be safe and showed indications of efficacy in raising HDL in three completed Phase I clinical trials.

Through ongoing clinical research and development it was discovered that the addition of an excipient to the formulation of CRD5 resulted in increased efficacy at a lower dosage. The new CRD5 formulation demonstrated a significant increase in bioavailability and efficacy in animal models, which will translate into considerably lower doses for evaluation in future human clinical trials, including the Phase II clinical trials, scheduled to begin in early 2006.

"I congratulate Ken on his new position and welcome him to the Liponex team," said Bill Dickie, President and CEO of Liponex Inc. "The addition of Ken will enable faster development of CRD5 and undoubtedly move products along our pipeline more quickly. Ken and his team have an exciting time ahead of them."

Prior to joining Liponex Inc., Mr. Sokoll spent four years at United Biomedical Inc., where he began as management of the formulations group, and then moved on to management of the formulation and API/adjuvant development group, ultimately holding the position of vice president of vaccine product development where he was responsible head of regulatory affairs. Throughout his career Mr. Sokoll has gained a wealth of experience in the life sciences sector, holding positions as a research scientist, and management positions with companies such as PMC-Canada and Rhodia/Aventis Pasteur–France. Mr. Sokoll has a B. Sc. from the University of Toronto and a Ph.D. in Organic Chemistry from the University of Waterloo.

About Liponex
Liponex is a biopharmaceutical company specializing in developing products related to High Density Lipoprotein (HDL), often called "good cholesterol." Its drug candidates relate to the various roles of HDL as a transport vehicle, including removing excess cholesterol from the body, delivering molecules to cells and removing unwanted materials from the body. Liponex recently completed its IPO and is listed on the TSX under the ticker "LPX". For more information on Liponex, visit www.liponex.ca .

Certain of the statements contained in this press release contain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company does not expect to update forward-looking statements continually as conditions change. Investors are referred to the full discussion of risk factors associated with the Company's business contained in the Company's periodic regulatory filings, which can be found in the SEDAR database at www.sedar.com .

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For further information, or to arrange for interviews, contact:

Liponex Inc.
Linda Woods
inmedia Public Relations
(613) 234-7227 ext 234
lwoods@inmedia.com