Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

March 03, 2008 16:36 ET

Bioxel Announces Grant of Deferred Stock Units

STE-FOY, QUEBEC--(Marketwire - March 3, 2008) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Bioxel Pharma Inc. ("Bioxel" or the "Corporation") (TSX VENTURE:BIP) a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, announces that it has granted today Deferred Stock Units ("DSUs") to its directors in payment for compensation amounts owed for the years 2006 and 2007, in accordance with the Corporation's Deferred Stock Unit Plan. 1,219,425 DSUs were granted for an amount of $169,500. The DSUs were granted based on the weighted average trading price of the common shares of the Corporation on the TSX Venture Exchange from February 25 to February 29, 2008.

FORWARD-LOOKING STATEMENTS

Some of the statements made herein may constitute forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause Bioxel's actual results, performance or achievements to be materially different from those expected or implied by any of Bioxel's statements. Actual events or results may differ materially. Bioxel disclaims any intention, and assumes no obligation, to update these forward looking statements.

ABOUT BIOXEL PHARMA

Bioxel 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. Bioxel sells cGMP paclitaxel and develops a portfolio of other generic taxane APIs and taxane-based proprietary products for improved cancer therapy.

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

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