Virologix Corporation

Proposed Ticker: -		666 Third Avenue, 30th Floor
Exchange: NASDAQ-Small Cap Market		New York, New York 10017
Industry: Manufacturing		(212) 681-9195

All share information is proposed
Type of Shares:	Common Shares	Filing Date:	11/22/96
U.S. Shares Filed:	1,150,000	Filing Price:	$6.00
Non-U.S. Shares Filed:	0	Offering Amount:	$6,900,000
Primary Shares:	1,150,000	Expenses:	$250,000
Secondary Shares:	0	Shs Out After:	3,535,000

Manager	Tier	Phone
Rickel & Associates, Inc.	Lead Manager	(800) 678-2664

	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
		9/30/96			9/30/96
Revenue:		$0.00		Assets:	$0.73
Net Income:		-$0.84		Liabilities:	$0.36
EPS:		-$0.35		Equity:	$0.37
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

The company is a development stage, biopharmaceutical company engaged in the research and development of vaccines and therapeutics for viral diseases. The company is also engaged in the development of animal models of human viral diseases for use in pharmaceutical discovery. The company's technologies are licensed from The Rockefeller University. The company's vaccine program is focused on human T cell leukemia virus types I and II (HTLV-I and -II), mammalian viruses that infect the T lymphocytes of the human immune system and are associated with a number of severe clinical disorders. An estimated 10-20 million people are infected with HTLV-I or HTLV-II worldwide, and all blood donated in the United States, Europe and Japan is screened for contamination with HTLV-I and HTLV-II.

Use of Proceeds

The proceeds from the proposed offering will be used to repay short-term indebtedness incurred in the Bridge Financing and research and development activities, and the balance used for working capital and general corporate purposes.

Last updated: 12/8/96