Sepragen Announces Profibility and Doubling of Revenues for 2005; Announces New Financing Round

Hayward, CA, May 15, 2006 -- Sepragen Corporation (OTC BB: SPGNA.PK), is a provider of patented technology and equipment for purification needs in the biotech and nutraceutical industries. Based on internally compiled and unaudited financial results, Sepragen announced today profitability and a doubling of revenues for 2005 when compared with fiscal year 2004. Sepragen CEO and founder, Vinit Saxena, of this performance states, “The Company management has cut expenses, brought focus to a few key products, such as our QuantaSep line of chromatography systems, which are gaining traction and made key deals such as the one with Pall Corporation in engineering this turn-around. This belt-tightening has come at a cost, which is that the Company has fallen behind in accounting and legal compliance matters.”

The Company expects to raise approximately $500,000 to pursue development of new technologies and move towards bringing the Company to a fully reporting status.

Sepragen is a provider of innovative bio-purification products that enable biotech companies to develop and manufacture biopharmaceuticals quickly and cost-effectively. Sepragen products are used by leading biotech companies world-wide to manufacture over a dozen FDA approved drugs.

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The statements in this release that relate to future events or performance, statements about growth, future regulatory clearances, levels of sales and market size and future manufacturing capacity and efficiencies are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties related to the development of markets for and commercial acceptance of the company's products and services, the availability of components, competitors' product introductions and other risks identified in the company's SEC filings. Actual results may differ from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.