VASO ACTIVE COMPLETES PRIVATE FINANCING

Vaso Active Pharmaceuticals, Inc. (Vaso Active) (VAPH.pk) of Danvers, Massachusetts, announced today that it had completed a private financing in which it sold $2,500,000 in aggregate principal amount of Senior Secured Convertible Notes due May 1, 2007, (the "Notes") to independent institutional investors. The Notes are convertible at any time into shares of the Company's Class A common stock at a price of $0.70 per share (subject to adjustment under certain circumstances). The investors also received five-year warrants ("Warrants") to purchase a total of 1,298,701 shares of the Company's Class A common stock at an exercise price of $0.77 per share.

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