Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

July 16, 2008 16:57 ET

Appointment of Olivier Meyer as President and Chief Executive Officer of Bioxel Pharma

SAINTE-FOY, QUEBEC--(Marketwire - July 16, 2008) - THIS PRESENT RELEASE IS ONLY TO BE RELEASED IN CANADA AND IS NOT TO BE SENT TO NEWSWIRE SERVICES IN THE UNITED STATES OR RELEASED IN THE UNITED STATES.

The Chairman of the Board of Bioxel Pharma Inc. (TSX VENTURE:BIP), a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, is pleased to announce today's appointment of Olivier Meyer as President and Chief Executive Officer of the Corporation. The appointment of Mr. Meyer has been approved by the Board of Directors and is effective as of today.

Olivier Meyer has a Ph.D. in Pharmaceutical Sciences from Universite de Paris XI, France. Dr. Meyer subsequently did his postdoctoral fellowship at the University of California Cancer Research Institute in San Francisco where he developed various innovative nano-particulate systems for the targeted transport of oncology drugs. Dr. Meyer held several positions in research and development at Transgene S.A. in Strasbourg, France, before becoming Vice-President, Research and Development of Bioxalis Medica Inc., acquired by Procyon Biopharma Inc. in 2005 and since renamed Ambrilia Biopharma Inc. Prior to joining the Bioxel Pharma Inc. team, Dr. Meyer held a managerial position at AstraZeneca R&D Montreal.

"The arrival of a professional of Olivier's calibre to lead our Corporation going forward could not come at a better time. With the proliferation of opportunities to develop the worldwide paclitaxel market and the interest shown by an increasing number of generic and innovative customers in our docetaxel, we needed to identify a manager who fully grasped all the workings of the global pharmaceutical industry in the field of oncology and medical instruments. We are convinced that Olivier has all the qualifications and experience required to enable Bioxel, with the support of our Board members, management team and all our employees, to achieve its development objectives and thereby to realize the full value of our Corporation for the benefit of its shareholders and customers," indicated Pierre Lapalme, Chairman of the Board of Bioxel Pharma.

"Bioxel has everything it takes to become a world-class provider of taxane-based APIs and its growth outlook is most promising. I am enthusiastic about taking the Corporation's helm and being able to count on the team of specialists who have succeeded in bringing Bioxel to this critical stage of its development. I look forward to getting to work in order to accelerate Bioxel's development strategy and to consolidate its leadership in international taxane markets," commented Olivier Meyer, President and Chief Executive Officer of Bioxel Pharma.

Forward-Looking Statements

This press release contains forward-looking statements comprising factors of risk and uncertainty likely to materially and/or adversely affect the Corporation's future results. Risks and uncertainties likely to affect Bioxel's development products include legislation, technological developments and the competition. The expectation of the objectives set forth herein is subject to such risks and uncertainties. The Corporation's results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of achievement of financial forecasts.

ABOUT BIOXEL PHARMA

Bioxel Pharma Inc. is an emerging leader in biopharmaceuticals, focused on developing, manufacturing and marketing taxane active pharmaceutical ingredients and proprietary products for improved cancer therapy. Taxanes are used in drug products for the treatment of cancer and other diseases, including psoriasis, rheumatoid arthritis and cardiovascular disease.

The TSX Venture Exchange accepts no responsibility for the adequacy or accuracy of this press release.

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