Vitex Files Shelf Registration Statement

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Vitex Files Shelf Registration Statement
    WATERTOWN, Mass., May 13 /PRNewswire-FirstCall/ -- V.I. Technologies, Inc.
(Nasdaq: VITX) ("Vitex" or "the Company"), a biotechnology company dedicated
to developing the next generation of anti-infective products, today announced
that it has filed a shelf registration on Form S-3 with the Securities and
Exchange Commission (SEC) which, when declared effective by the SEC, will
allow Vitex, from time to time to offer and sell up to $50 million of equity
securities. The terms of any offering made pursuant to this filing will be
established at the time of the offering. The Company intends to use the
proceeds from the sale of any securities to fund its internal discovery and
development programs including the clinical development of its HIV therapeutic
drug candidate PA-457, and for other general corporate purposes.
    The shelf-registration statement filed today with the SEC has not yet
become effective. No securities may be sold, nor may offers to buy be
accepted, prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which an offer, solicitation or sale would be unlawful prior
to registration or qualifications under the securities law of any such
jurisdiction.

    About Vitex
    Vitex is developing the next generation of anti-infective products. The
Company is engaged in the discovery and development of small molecule oral
drugs for the treatment of HIV and other major human viral diseases. Vitex's
proprietary discovery technologies and lead therapeutic candidate PA-457 focus
on novel targets in the virus life cycle, including virus fusion and virus
maturation. The Company's separate INACTINE(TM) technology is designed to
inactivate a wide range of viruses, bacteria and parasites in blood products,
and has demonstrated its ability to remove prion proteins. The Company's
clinical development program for INACTINE(TM) has been suspended while the
Company continues to address issues relating to immune responses observed in
certain patients in Phase 3 clinical trials. For more information on Vitex,
please visit our web site at: http://www.vitechnologies.com.
    Except for the historical information contained herein, the matters
discussed are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties, such as the progress of clinical
development of PA-457 and the timing of results of clinical trials, the
execution of the Company's financing plans, the timely availability of new
products, the Company's ability to execute plans to resume its clinical trial
program for the INACTINE viral inactivation system for red blood cells, market
acceptance of the Company's products, the impacts of competitive products and
pricing, government regulation of the Company's products, the Company's
ability to complete product development collaborations and other strategic
transactions and other risks and uncertainties set forth in the Company's
filings with the Securities and Exchange Commission. These risks and
uncertainties could cause actual results to differ materially from any
forward-looking statements made herein.

    CONTACT:
     John R. Barr
     President
     617-926-1551
     john.barr@vitechnologies.com
SOURCE V.I. Technologies, Inc.
http://www.vitechnologies.com
CONTACT:
John R. Barr, President of V.I. Technologies,
Inc., +1-617-926-1551, john.barr@vitechnologies.com