Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

July 08, 2008 08:30 ET

Bioxel Pharma Achieves Major Advances in June 2008

SAINTE-FOY, QUEBEC--(Marketwire - July 8, 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. (TSX VENTURE:BIP), a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, wishes to highlight its significant business development since its May 29, 2008 Annual General Meeting.

Docetaxel: New Customers

Bioxel announces it gained six new customers for development lots of its docetaxel molecule in June 2008. "The docetaxel produced by Bioxel is today generating considerable interest that represents major business opportunities," indicated Tom Warden, Vice-President, Sales and Marketing. These new customers are pharmaceutical companies developing innovative docetaxel-based drugs and generic drug manufacturers from around the world.

"We are enthusiastic about the global pharmaceutical industry's interest in our docetaxel molecule. Our customers are taking advantage of the great opportunity offered by the gradual opening up of the major international markets to generic docetaxel-based drugs. Given the expiry of the patents to docetaxel, this market is expected to open up as of 2010. In such a context, Bioxel is emerging as a key docetaxel provider that stands apart from the competition through the use of a unique synthesis intermediate in an innovative manufacturing process," commented Pierre Lapalme, Chairman of the Board and President in Interim of the Corporation.

Consistent with the scheduled milestones, Bioxel will be able to deliver its first lots of cGMP (current Good Manufacturing Practices) docetaxel produced on a commercial scale as of the third quarter of 2008.

Docetaxel is one of the key APIs used in anti-cancer chemotherapy. Currently sold by Sanofi-Aventis under the Taxotere® trademark, worldwide sales of this drug totaled US$2.6 billion in 2007.

Paclitaxel: New Business Opportunities

In June 2008, in response to the demand of a leading generic drug manufacturer, Bioxel filed an application to register its Paclitaxel Drug Master File ("DMF") in 25 countries in the European Union, subsequent to its registration in the United States in 2007. This customer has a commercial footprint extending into Europe, North America, Latin America and the Asia-Pacific region.

Bioxel also made its second delivery of paclitaxel pursuant to an order from a major European generic drug manufacturer, having made its first delivery at the beginning of the second quarter of 2008.

Corporate Development

On June 30, 2008, the Corporation granted 178,241 deferred stock units to its directors, in accordance with the Corporation's Deferred Stock Unit Plan, at an exercise price of $0.11 per unit, for a total of $19,250.

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 Pharma Inc. is an emerging leader in biopharmaceuticals, focused on developing, manufacturing and marketing taxane active 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 and cardiovascular disease.

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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