Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

December 20, 2006 10:21 ET

Bioxel Achieves Key Docetaxel Manufacturing Milestone

SAINTE-FOY, QUEBEC--(CCNMatthews - Dec. 20, 2006) - Bioxel Pharma Inc. (TSX VENTURE:BIP), a leading manufacturer and supplier of taxane APIs and developer of targeted oncology drugs, is pleased to announce that the Corporation has achieved a critical milestone by producing docetaxel API at pre-industrial scale using its patented semi-synthetic process.

"We are very excited about achieving this manufacturing milestone as planned. It demonstrates that our patented high-efficiency synthetic taxane technology delivers quality product and is fully scalable." said Pascal Delmas, President and CEO of Bioxel Pharma. "We intend to use docetaxel API from this campaign to support the development efforts of our pharmaceutical clients seeking to commercialize generic docetaxel formulations."

In 2005, Bioxel filed two US patents covering the synthetic conversion of 9-DHB to paclitaxel and docetaxel. These new patents were extended in 2006, allowing for worldwide protection of the technology. 9-DHB is a side stream taxane that is isolated during the processing of natural paclitaxel; a product the Corporation presently manufactures and markets globally. In 2007, Bioxel intends to submit Drug Master Files for docetaxel to regulatory agencies in North America and Europe and prepare for market launch.

Docetaxel is the active ingredient used in Taxotere®, a chemotherapeutic drug marketed by Sanofi-Aventis that generated worldwide sales of US $2.2 billion in 2005. The first patents on docetaxel will expire at the end of 2007, paving the way for development of the generic Taxotere® market. Bioxel is pursuing commercial discussions with generic pharmaceutical companies interested in the use of its docetaxel API under license.

Bioxel currently manufactures and sells natural cGMP paclitaxel to specialty pharmaceutical companies and generic product manufacturers. The Corporation's dedicated cGMP paclitaxel facility is located in the USA at an FDA inspected pharmaceutical manufacturing site. Bioxel's paclitaxel is registered with US, EU and Canadian regulatory authorities, allowing for its use in regulated chemotherapy products worldwide.

ABOUT BIOXEL PHARMA

Bioxel Pharma Inc. is an emerging leader in biopharmaceuticals, focused on developing, manufacturing and marketing taxane pharmaceutical ingredients. Taxanes are used in drug products for the treatment of cancer and other diseases, including psoriasis, rheumatoid arthritis, Alzheimer's disease and cardiovascular disease. The Corporation sells cGMP paclitaxel and develops a portfolio of other generic taxane APIs and taxane-based proprietary products for improved cancer therapy.

This announcement includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect future results. These include risks and uncertainties that could affect Bioxel's products under development such as regulatory factors, technological developments and competitive factors. Achievement of the objectives set forth in this release is subject to these 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 realization of financial projections.

The TSX Venture Exchange has not reviewed the contents of this press release and accepts no responsibility for the adequacy or the accuracy thereof.

Contact Information