Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

November 21, 2006 08:30 ET

Bioxel Files Second International Patent Application Securing Semi-Synthetic Taxanes Manufacturing

SAINTE-FOY, QUEBEC--(CCNMatthews - Nov. 21, 2006) - Bioxel Pharma Inc. (TSX Venture Exchange: BIP), a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, is pleased to announce the filling of a second international patent application for the semi-synthesis of paclitaxel and docetaxel.

This is the second of two key patents that describe the full synthesis of paclitaxel and docetaxel from a common starting material (9-DHB or 10-DAB) isolated during Bioxel's current natural paclitaxel manufacturing process. This patent aims to protect unique synthesis processes and innovative taxane intermediates leading to these two commercially important taxane ingredients. The patents give Bioxel a proprietary pathway to the promising docetaxel market, while increasing the overall productivity of its taxane manufacturing platform; thereby enhancing its competitive edge.

The Corporation is currently executing the commercial scale-up of its taxane synthesis processes and expects to have a first pilot lot of docetaxel before the end of 2006. Bioxel is in active discussions with leading generic pharmaceutical companies with a view to selling its docetaxel API under license. The Corporation intends to have cGMP docetaxel available to meet the opening market opportunity for generic Taxotere®, a chemotherapeutic drug marketed by Sanofi-Aventis for which 2005 worldwide revenues totaled US$2.2 billion. The first patents on docetaxel will begin to expire at the end of 2007.

Bioxel currently manufactures and sells naturally-sourced paclitaxel to pharmaceutical companies specializing in oncology therapeutics and to generic product manufacturers. Its cGMP manufacturing unit is located at an FDA-inspected pharmaceutical site in the US. The Corporation holds US, Canadian and European Drug Master Files and has submitted these for use in registered products to the regulatory authorities in 15 countries.

ABOUT BIOXEL PHARMA

Bioxel Pharma Inc. is an emerging leader in biopharmaceuticals, focused on developing, manufacturing and marketing taxane 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, Alzheimer's disease and cardiovascular disease.

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.

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