EquiTech Corporation
TSX VENTURE : EQT

EquiTech Corporation

May 31, 2005 09:15 ET

EquiTech Announces Filing of a U.S. Patent Application for a Novel Formulation of Meloxicam

EDMONTON, ALBERTA--(CCNMatthews - May 31, 2005) - EquiTech Corporation (TSX Venture:EQT) ("EquiTech") today announced it has filed a new patent application for a novel tablet formulation of meloxicam. The novel tablet formulation has improved absorption into the blood stream, as measured in the company's proprietary pain-mimicking animal model, compared to a currently available meloxicam formulation. "Results from our labs show that we can enhance the absorption of meloxicam over 10 fold," said Dr. Fakhreddin Jamali, the Chief Scientific Officer of EquiTech. Meloxicam is a prescription product used to treat arthritis and is a cyclooxygenase-2 (COX-2) inhibitor typically used to treat arthritis pain and inflammation. EquiTech's new meloxicam tablet is ready to be manufactured for clinical trial testing in humans.

EquiTech is developing more effective versions of oral drugs that achieve therapeutic effectiveness using less medication, as compared to currently available formulations. EquiTech's scientists believe that the chemical structure of meloxicam may result in this particular COX-2 drug having a lower potential for cardiovascular side effects compared to other COX-2 drugs (now withdrawn from the market and under safety review by the U.S. FDA).

About EquiTech Corporation

EquiTech recently completed a Phase II study on its lead formulation, a novel 200 mg ibuprofen caplet designed to dissolve quickly and break apart in the stomach within minutes. The Phase II clinical trial results showed that the ibuprofen caplet is absorbed into the blood stream significantly faster and achieves faster onset of pain relief compared to a leading over-the-counter ibuprofen tablets.

EquiTech Corporation uses proprietary technology to create and develop better absorbing pharmaceutical products. EquiTech trades on the TSX Venture Exchange under the symbol EQT and currently has approximately 14.3 million common shares outstanding. For further information, visit http://www.equitechcorporation.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U.S. Securities Act, 1933, as amended and subject to certain exemptions may not be offered or sold in the United States or to U.S. persons. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements, i.e. information that is not strictly historical, concerning EquiTech's business and prospects. Forward-looking statements are subject to a number of risks and uncertainties. Actual events and results may differ materially from those discussed in this press release, due to factors including research, development, commercial and market risks.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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