Aspreva Pharmaceuticals Corporation announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission and a preliminary prospectus with Canadian provincial regulatory securities authorities for a proposed initial public offering of its common shares.

The shares will be offered by an underwriting syndicate led by Merrill Lynch & Co., co-led by Banc of America Securities LLC, and co-managed by Pacific Growth Equities LLC and BMO Nesbitt Burns Inc.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. A preliminary prospectus relating to these securities has been filed with Canadian provincial securities regulatory authorities. These securities may not be sold nor may offers to buy be accepted, in the United States or to or from U.S. persons, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State. The offering will be made only by means of a prospectus.