VEGF Corautus Genetics (MM)

ATLANTA, Jan. 17 /PRNewswire-FirstCall/ -- Corautus Genetics Inc. (NASDAQ:VEGF) announced today that, in accordance with its previously stated intention to identify other life science opportunities, it is in discussions regarding a potential business combination with a privately-held biotech company. There is no assurance that a definitive agreement will be reached, or if an agreement is entered into, that an acquisition will be consummated. Corautus does not intend to make any further public comment regarding these discussions unless the parties enter into a definitive agreement or the discussions are terminated. Corautus also stated that it is its general policy not to comment upon or respond to market rumors or speculation or otherwise disclose the existence of discussions regarding significant corporate transactions. About Corautus Corautus is a development stage company dedicated to the development of innovative products in the life sciences industry. Corautus, formerly known as GenStar Therapeutics Corporation and Urogen Corp., was formed as a Delaware corporation on June 30, 1995. Prior to November 1, 2006, Corautus was primarily focused on the clinical development of gene therapy products using a vascular growth factor gene, Vascular Endothelial Growth Factor 2 (VEGF-2), for the treatment of severe cardiovascular disease. Corautus was the sponsor of a Phase IIb clinical trial to study the efficacy of VEGF-2 for the treatment of severe cardiovascular disease, known as the GENASIS trial. In addition, Corautus supports initial clinical trials studying the efficacy of VEGF-2 for the treatment of peripheral artery disease and diabetic neuropathy. Forward-Looking Statements This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. These risks include statements that address performance, events or developments that we expect or anticipate will occur in the future, such as the likelihood of identifying and securing life sciences opportunities upon which to focus our resources and the adequacy of our cash position to transition to new opportunities if found. These risks are discussed in Corautus Genetics Inc.'s Securities and Exchange Commission filings, including, but not limited to, the risk factors in Corautus' 2005 Annual Report on Form 10-K which was filed on March 20, 2006, as amended by Corautus' Form 10-Q for the periods ending March 31, 2006 which was filed on May 15, 2006, June 30, 2006 which was filed on August 10, 2006, and September 30, 2006 which was filed on November 14, 2006, all of which are incorporated by reference into this release. All forward-looking statements included in this release are based on information available to Corautus on the date hereof, and Corautus assumes no obligation to update any such forward-looking statements. Contact Information: Jack W. Callicutt Chief Financial Officer 404.526.6210 DATASOURCE: Corautus Genetics Inc. CONTACT: Jack W. Callicutt, Chief Financial Officer of Corautus Genetics Inc., +1-404-526-6210 Web site: http://www.corautus.com/

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