VASOGEN INC
6-K, 2000-06-27
SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
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                                   FORM 6 - K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                        REPORT OF FOREIGN PRIVATE ISSUER
                      Pursuant to Rule 13a-16 or 15d-16 of
                       The Securities Exchange Act of 1934

                           For the month of June 2000
                         Commission File Number 0-29350

                                  VASOGEN INC.
                 (Translation of Registrant's name into English)

           2155 Dunwin Drive, Suite 10, Mississauga, Ontario, L5L 4M1
                    (Address of principal executive offices)


(Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.)

                  Form 20-F   X          Form 40-F
                            -----                    -----

(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)

                     Yes                    No         X
                          -----                      -----


This Form 6-K consists of:

A press release issued by Vasogen Inc. on June 23, 2000, entitled: "Vasogen
Announces Option Exercised":

                                    SIGNATURE
                                    ---------

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                       VASOGEN INC.


                                       By ___________________________________
                                       (Name: Christopher  Waddick)
                                       (Title: Vice-President, Finance & CFO)

Date:  June 26, 2000
<PAGE>

 Vasogen Inc.                                    INVESTOR CONTACT

  2155 Dunwin Drive                              Trevor Burns
  Mississauga, ON, Canada L5L 4M1                Investor Relations
  tel: (905) 569-2265 fax: (905) 569-9231        tel: (905) 569-9065
  http://www.vasogen.com                         e-mail: [email protected]

--------------------------------------------------------------------------------

FOR IMMEDIATE RELEASE

                       VASOGEN ANNOUNCES OPTION EXERCISED

Toronto, Ontario (June 23, 2000) -- Vasogen Inc. (TSE:VAS; AMEX:MEW) today
announced that, pursuant to the underwriting agreement entered into with
Research Capital Corporation for the issuance and sale of 1.4 million common
shares at a price of $10.00 per share, Research Capital Corporation has
exercised its option to purchase 350,000 shares at the same price. As previously
announced, the Company has granted Research Capital Corporation a 15%
over-allotment option, exercisable until closing.

A short form preliminary prospectus will be filed June 26th with respect to the
offering. Closing is scheduled to take place on or about July 13, 2000.

The Company's cash position at closing, taking into account the net proceeds of
the 1.75 million common share issue, is projected to be approximately $41
million.

   Vasogen is focused on developing immune modulation therapies to advance the
        treatment of cardiovascular, autoimmune and related inflammatory
          diseases. These therapies are designed to target fundamental
          disease-causing events, providing safe, effective treatment.

Statements contained in this press release, including those pertaining to
scientific and clinical research, commercialization plans, strategic alliances,
and intellectual property protection, other than statements of historical fact,
are forward-looking statements subject to a number of uncertainties that could
cause actual results to differ materially from statements made.

        "For information purposes only. The issue is not being offered to
                   residents of the United States of America."


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