ViRexx completes $4 million private placement

EDMONTON, Sept. 12 2005 - ViRexx Medical Corp. (TSX: VIR) a company
focused on immunotherapy treatments for cancer, chronic hepatitis B & C and
embolotherapy treatments for tumors, today announced it has completed a
brokered private placement of 4,035,665 units for gross proceeds of
$4,035,665.

"This transaction strengthens the Company's financial position as we
prepare to initiate a Phase I safety study of HepaVaxx B in healthy adults
later this year, representing the fourth ongoing clinical trial from our
pipeline of products," said Marc Canton, President and COO of ViRexx. "The
HepaVaxx B trial will build on our ongoing clinical development program which
includes the Phase I Occlusin(TM) 50 Injection and the two later stage
OvaRex(R) MAb trials, both of which are funded by our licensing partner,
United Therapeutics Corporation."

Each unit consists of one common share and one-half of one share purchase
warrant. Each whole share purchase warrant entitles the holder to purchase one
common share of ViRexx at a price of Cdn $1.20 for a period of 2 years. Montex
Exploration Inc. acted as the broker for the private placement transaction.
The net proceeds will be used for general working capital purposes.

About ViRexx Medical Corp.
ViRexx is an Edmonton, Alberta based biotechnology company focused on the
development of novel therapeutic products for the treatment of cancer and
chronic viral infections. ViRexx's most advanced programs include drug
candidates for the treatment of ovarian cancer, chronic hepatitis B & C and
solid tumors.

ViRexx's lead product, OvaRex(R) MAb, a therapy for the treatment of
late-stage ovarian cancer, is currently the subject of a Phase III clinical
trial being funded by ViRexx's licensing partner Unither Pharmaceuticals,
Inc., a subsidiary of United Therapeutics Corporation. For additional
information about ViRexx, please see www.virexx.com.

THE TSX HAS NOT APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN

These securities have not been registered under the United States
Securities Act of 1933, as amended, or the securities laws of any state, and
may not be offered or sold within the United States or to, or for the account
or benefit of, U.S. persons unless an applicable exemption from U.S.
registration requirements is available.

This news release contains certain forward-looking statements that
reflect the current views and/or expectations of the Company with respect to
its performance, business and future events. Such statements are subject to a
number of risks, uncertainties and assumptions. Actual results and events may
vary significantly.

For further information: please contact: Rob Salmon, Chief Financial
Officer, ViRexx Medical Corp., Tel: (780) 989-6708, Fax: (780) 436-0068,
rsalmon@virexx.com; Ross Marshall, Investor Relations, The Equicom Group
Inc., Tel: (800) 385-5451 ext. 238, Fax: (416) 815-0080,
rmarshall@equicomgroup.com ; Kim Golodetz, Investor Relations,
Lippert/Heilshorn & Associates Inc., Tel: (212) 838-3777, Fax: (212) 838-4568,
kgolodetz@lhai.com

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