Bioxel Pharma Inc.

Bioxel Pharma Inc.

March 24, 2005 15:20 ET

Bioxel Paclitaxel Now in Generic Formulation Marketed in Europe


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BIOXEL PHARMA INC.

TSX VENTURE SYMBOL: BIP

MARCH 24, 2005 - 15:20 ET

Bioxel Paclitaxel Now in Generic Formulation Marketed
in Europe

SAINTE-FOY, QUEBEC--(CCNMatthews - March 24, 2005) - Bioxel Pharma Inc.
(TSX VENTURE:BIP), a leading manufacturer of taxanes and developer of
oncology drugs, today announces the first use of its lead product,
paclitaxel, in a generic formulation for the direct-to-hospital market
in Europe.

Bioxel has sold cGMP paclitaxel primarily to companies in late stage
clinical development or those in the process of gaining regulatory
approval for their generic paclitaxel formulations.

"This sale marks a key milestone for the company as it represents
commercial and regulatory acceptance of our lead product in Europe,"
said Pascal Delmas, President and Chief Executive Officer of Bioxel.
"With other European customers expecting marketing approvals for their
generic paclitaxel formulations in 2005, Bioxel can now build revenue
momentum from the sale of its cGMP paclitaxel."

To respect the confidentiality of Bioxel's customer, details of the
transaction are not disclosed.

Bioxel is focusing its commercial development efforts towards the
North-American and European markets, targeting primarily specialty and
generic pharmaceutical companies evolving in the field of oncology.

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 API's
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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Bioxel Pharma Inc.
    Pascal Delmas, Pharm.D, MBA
    President and Chief Executive Officer
    (418) 654-9666
    pascal.delmas@bioxelpharma.com
    www.bioxelpharma.com
    The TSX Venture Exchange has not reviewed the contents of this press
    release and accepts no responsibility for the adequacy or the accuracy
    thereof.