Pittsford, New York, February 9, 2007. John Paganelli, Chairman of eXegenics Inc. (OTC BB: EXEG) today announced that eXegenics has completed its sale of shares of eXegenics common stock, constituting approximately 51% of the issued and outstanding shares of eXegenics capital stock, on a fully diluted basis, to a small group of investors led by Phillip Frost, M.D. The stock sale was made pursuant to the terms of a previously announced stock purchase agreement dated August 14, 2006, as amended as of November 30, 2006. The investors paid eXegenics an aggregate purchase price of $8.6 million at the closing. The purchase price is subject to adjustment based on eXegenics stockholders’ equity at the closing.

The stock sale was consummated on Friday, February 9, 2007. The shares of eXegenics common stock sold were not registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration under the Securities Act or the availability of an exemption from registration