The liver is the largest organ in the body and performs a variety of tasks that impact all parts of the body. As a result, liver disease has widespread effects on virtually all other organ systems. Remarkably, the liver is the only organ that can regenerate itself. Numerous attempts have been made over the past 30 years to develop a surrogate technique to provide either partial or total metabolic support for the patient with a failing liver. The the technical and clinical objective is to provide a temporary liver assist until a patient's own liver regenerates or until a liver transplant can be performed.

No Bioartificial Liver System is commercially available today. The market for a successful product has been estimated at over 700,000 procedures annually in the U. S. with a market potential in excess of $7 billion per year. The European market is comparable.

We have been engaged in a collaborative effort with the leading liver transplant center for nearly 8 years to devise a safe and effective bioartificial liver system. The project has progressed from initial concept to FDA Phase I/II clinical studies.

Excorp Medical, Inc. intends to be the first firm to introduce a clinically effective bioartificial liver system, worldwide.

The Excorp Medical, Inc. Mark II, the early prototype machine, supplies all the necessary functions to support the Bioartifical Liver System.

University of Pittsburgh grants approval to proceed with FDA authorized trials.... Dr. Daniel G. Miller returns to China March 1, 2008. Updates in Shareholder's corner.

_{Caution: New Drug--Limited by Federal (or United States) law to investigational use.}