Bioxel Pharma Inc.
TSX VENTURE : BIP

Bioxel Pharma Inc.

September 28, 2005 09:09 ET

Bioxel Pharma Receives its Largest Paclitaxel Order and Long-Term Supply Agreements Nearing Conclusion

SAINTE-FOY, QUEBEC--(CCNMatthews - Sept. 28, 2005) - Bioxel Pharma Inc. (TSX VENTURE:BIP), a leading manufacturer and supplier of taxane API's and developer of targeted oncology drugs, today announced that it has received its single largest order to date for its paclitaxel product. Under the terms of the transaction Bioxel will begin shipments immediately to Europe on a multi kilogram order to a pharmaceutical client. The Corporation is continuing to build its quarterly bookings which now exceed $1 million.

"Orders of this scale come after a thorough due diligence of Bioxel's supply chain by customers" said Pascal Delmas, President and CEO of Bioxel Pharma. "Efficient manufacturing, high product quality and competitive pricing are the key purchasing criteria of our partners. We believe that Bioxel offers the best paclitaxel value proposition in North America and Europe, and this is being recognized by our clients". Mr. Delmas added, "With a complete taxane product line and a globally competitive supply chain, we offer a unique, fully-integrated taxane solution."

Bioxel also announced that it is rapidly advancing negotiations on long-term supply agreements for its paclitaxel product with leading European generic companies. The Corporation has focused on geographic expansion into the estimated US$100 million European market for bulk paclitaxel. "We are very excited by the commercial potential of our product in Europe and we are on track to capitalize on this significant generic market opportunity" commented Paul Metz, President of Bioxel International, the sales and marketing arm of Bioxel. The Corporation anticipates completing long-term paclitaxel supply agreements by the end of the year.

Bioxel manufactures and sells cGMP paclitaxel to specialty pharmaceutical companies and generic product manufacturers. The Corporation's dedicated cGMP paclitaxel facility has a 120 kilogram annual capacity and is located at Aerojet Fine Chemicals, an FDA inspected pharmaceutical manufacturing site. Bioxel's paclitaxel product is registered with US, EU and Canadian regulatory authorities, enabling sales into approved formulated products in each of these markets.

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.

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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