N@N

Oncologix Tech Inc.: Oncologix Revises February 27, 2009 Press Release

^{Published on 2009-04-06 11:23:27, Last Modified on 2009-11-03 08:50:54 - Market Wire}
 

GRAND RAPIDS, MI--(Marketwire - April 6, 2009) - Oncologix Tech Inc. (PINKSHEETS: [ OCLG ]) announces revision to its press release dated February 27, 2009. "In our press release of February 27, 2009, we referred to 'a denial by the U.S. Patent Office of key claims in the patent application of the University of Maryland, Baltimore covering the technology that had been licensed to us.' We have been advised that the proper term for the Patent Office action is 'rejection' and not 'denial' and that this statement has been interpreted by some as meaning that the patent application was denied in its entirety. Our statement was intended to refer to particular claims in the patent application that were critical to IUT in connection with the previously announced technology transfer agreement and was made to explain the changes in the terms of the IUT transaction from those previously announced. We have been further advised that, in fact, that rejection is being contested by the University of Maryland, Baltimore and that the patent application remains actively pending in the U.S. Patent and Trademark Office, and has not been denied. Furthermore, there appears to be some concern that the February 27, 2009 press release may have inadvertently suggested that the University of Maryland, Baltimore's technology previously licensed by Oncologix was not commercially viable. In fact, Oncologix had no intention or interest in making any such suggestion. The comments were made solely for the purpose of advising our shareholders and other interested parties of the future plans of IUT Medical, Gmbh, of which we now own a 10% equity interest. We regard any misinterpretation of our release as unfortunate and hope that this explanation will put those misinterpretations to rest."

About Oncologix Tech Inc. and its subsidiary, Oncologix Corporation:

Oncologix Tech Inc. (formerly BestNet Communications Corp.) was formerly a provider of long distance telephone communication services but disposed of that business in January 2007.

The Company was developing a brachytherapy (radiation therapy) device, the Oncosphere System, for the advanced medical treatment of soft tissue cancers until it suspended operations at the end of December 2007 because of financial difficulties. It is based on a radioactive microparticles designed to deliver therapeutic radiation directly to a tumor site by introducing the microparticles into the artery that feeds the tumor tissue.

This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives. The forward-looking statements herein are based on current expectations that involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond control of the company. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any one of the assumptions could be inaccurate and, therefore, can be no assurance that the forward-looking statements included in this release will prove to be accurate.

About IUT

IUT was founded in Germany in 1992 by a group of scientists. It is located in the Berlin area and is concentrated on manufacturing special analytic devices and advanced technology developments, with a focus on environmental technology, and manufacturing of radioisotopes and radio labeled compounds. IUT maintains a website at [ http://www.iut-berlin.info/8.0.html?&L=1 ].