Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

November 29, 2006 08:30 ET

Bioxel Continues EU Commercial Growth

Repeat Orders Received from Two EU Customers

SAINTE-FOY, QUEBEC--(CCNMatthews - Nov. 29, 2006) - 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 that the Corporation has received repeat orders for its cGMP paclitaxel from two EU Customers. One is a leading European generic manufacturer; the second is a pharmaceutical company with a paclitaxel-based product in final stage of clinical development. Paclitaxel deliveries started at the end of the third quarter of 2006. The combined value of the orders is CAD $630,000.

"These repeat paclitaxel orders underscore Bioxel's success in developing the European market," said Pascal Delmas, President and Chief Executive Officer of Bioxel Pharma. He added: "Having high quality product available for immediate delivery and at a competitive price makes Bioxel the taxane supplier of choice." Sales of paclitaxel are expected to yield recurring revenues and further grow in 2007. Mr. Delmas concluded, "We are systematically carrying out our marketing strategy which has been aimed at normalizing sales growth by expanding our market presence and diversifying our customer base."

Bioxel has provided access to its manufacturing drug master file to regulatory authorities in 15 EU countries and expects to add several more in the coming months; allowing for broad market penetration throughout this region.

Bioxel manufactures and sells cGMP paclitaxel to specialty pharmaceutical companies and generic formulation manufacturers. The Corporation's dedicated cGMP paclitaxel facility has a 120 kilogram annual manufacturing capacity. It 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 its use worldwide.

ABOUT BIOXEL PHARMA

Bioxel Pharma Inc. is a biopharmaceutical company, 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

  • Bioxel Pharma Inc.
    Pascal Delmas, Pharm.D, MBA
    President and Chief Executive Officer
    418-654-9666
    www.bioxelpharma.com