CHARLOTTESVILLE, VA — June 6, 2006 — Diffusion Pharmaceuticals LLC, a drug discovery and development company, today announced that VaBIO, a membership organization that promotes the scientific and economic impact of the life sciences industry in the Commonwealth of Virginia, awarded it for the third year a $1,500 grant as part of the organization’s Summer Internship Grant Initiative.

This grant will help fund research performed by Matthew “Matt” Manganiello, a summer associate with Diffusion. Matt is currently a rising fourth year student at the University of Virginia’s School of Engineering and Applied Science where he is pursing a major in Chemical Engineering with a concentration in biotechnology and bioengineering.

Over the summer, Matt will carry on work performed by the Company’s 2005 Summer Associate, Matt Geary. His work will consist of hands-on analytical procedures, including laser techniques for in-vitro evaluation, in Diffusion Pharmaceuticals’ internal laboratories, which will assist the Company in the development of its pipeline of proprietary analog molecules. Matt will work in the lab with Diffusion’s scientists: Dr. John Gainer, the Company’s cofounder and inventor of Diffusion’s pipeline of drugs, and with Dr. Bob Murray and Edward John, Diffusion’s Research Projects Manager and Senior Laboratory Technician, respectively.

About Diffusion Pharmaceuticals LLC
Diffusion Pharmaceuticals LLC is a drug discovery and development company that owns a platform technology of patented small molecule therapeutics that enhance the diffusion of oxygen to hypoxic (oxygen-starved) tissues. By applying a revolutionary mechanism to increase oxygen diffusion into tissue cells, Diffusion’s lead molecule trans sodium crocetinate (TSC) treats life-threatening conditions, such as trauma, stroke, cardiovascular, respiratory, and other conditions characterized by oxygen deprivation at the cellular level. The company’s pipeline drugs, known as trans bipolar carotenoid or TBC molecules, are currently in the preclinical stage. Clinical trials are now being planned to support the use of TSC in ischemic indications. Diffusion Pharmaceuticals, which is privately held, is located in Charlottesville, Virginia. For more information, visit www.diffusionpharma.com.