BIOXEL CONTINUES EUROPE EXPANSION

Bioxel Pharma Inc., a leading manufacturer and supplier of taxane APIs and developer of targeted oncology drugs, is pleased to announce that it has begun commercial deliveries of cGMP paclitaxel to one of the largest European generic company, pursuant to the terms of the supply agreement executed in October, 2005. Bioxel's paclitaxel API will be used by its client in generic drug product marketed primarily in Europe. This first order is valued at CAD $340,000 and is expected to result in recurring revenues starting in Q-4 2006. Market Wire (http://www.marketwire.com/mw/release_html_b1?release_id=157242&tsource=3)