CHARLOTTESVILLE, VA — Tuesday, February 17, 2004 — Diffusion Pharmaceuticals LLC today announced that the company will present at the BIO CEO & Investor Conference Tuesday, February 24th, 2004, opening night, at the Waldorf Astoria in New York, New York. David G. Kalergis, JD/MBA, Chief Executive Officer of Diffusion Pharmaceuticals LLC, will provide an overview of the Company along with Veena Rao-Mirmira, PhD/MBA, and Tracey Linkous, CTM, Diffusion’s Director of Research and Development and Director of Communications, respectively.

The BIO CEO & Investor Conference, an annual event now in its sixth year, has emerged as one the industry’s leading investor conferences. Hosted by the Biotechnology Industry Organization (BIO), the conference will bring together key industry players to examine investment opportunities and issues affecting the biotechnology industry. Participants will include senior biotech executives, institutional and venture capital investors, industry analysts, corporate finance executives and experts from the medical and scientific communities.

Diffusion Pharmaceuticals is one of only 50 companies selected to participate in the poster presentations at the event’s International Reception and Networking Exhibition, which is expected to attract more than 1,000 people.

“We are pleased to have been given the opportunity to present Diffusion’s story at such a well-attended event,” said Mr. Kalergis. “Developing our novel small-molecule therapeutic, trans sodium crocetinate (TSC), for the Office of Naval Research (ONR) as a hemorrhagic shock treatment for wounded war fighters is an exciting story to tell,” he continued. “The Navy’s commitment to help fund Diffusion’s transition of TSC into first-in-human clinical trials has propelled us forward towards delivering a drug to meet unmet medical needs,” said Mr. Kalergis.

About Diffusion Pharmaceuticals
Diffusion Pharmaceuticals LLC is an expansion-stage drug-development company commercializing the new drug trans sodium crocetinate (TSC). TSC is a patented small-molecule therapeutic that treats oxygen deprivation at the cellular level (“hypoxia”). Hypoxia is the underlying cause of death or injury in numerous life-threatening conditions, including respiratory disorders, stroke, myocardial infarction (heart attack), congestive heart failure, and trauma. Injury from hypoxia is also often a serious complication of many surgical procedures. More than ten years of animal testing have proven that TSC significantly increases the rate of oxygen delivery to hypoxic tissues, extending life and reducing physiological damage. Diffusion’s drug-development program is currently transitioning from animal to human testing, with a first-in-human clinical trial planned for completion mid-2005. The company, which is privately held, is located in Charlottesville, Virginia, an emerging biotech and drug-development center. For more information, visit www.diffusionpharma.com.