Bioxel Signs Paclitaxel Supply Agreement With A Leading European Generic Manufacturer

Sainte-Foy, Quebec -- Bioxel Pharma Inc. announced that it has executed a 2-year renewable paclitaxel manufacturing and supply agreement with a leading European generic manufacturer. Paclitaxel deliveries to this new client are expected to generate sales of about $1.5 to $2.0 million starting in 2006.

"This agreement represents a key milestone for the Corporation," said Pascal Delmas, President and CEO of Bioxel Pharma. "We clearly stated our objective to expand Bioxel's market presence in Europe and broaden our client base with generic manufacturers. Bioxel has now penetrated this territory with an established partner offering promising sales growth potential. We anticipate securing additional commercial agreements in Europe in the near term."

Bioxel's new client is presently marketing its generic paclitaxel formulation in several EU countries and intends to obtain approvals throughout Europe in 2006, following the mutual recognition procedure.

"We are pleased to have earned this new supply agreement", commented Paul Metz, President of Bioxel International, the sales and marketing arm of Bioxel. "When clients visit our dedicated cGMP paclitaxel manufacturing facility and see what Bioxel has invested in technology, equipment and regulatory compliance, they are assured of our commitment to customer satisfaction. Integrated, competitive and reliable; we believe Bioxel has the best offering in taxane APIs."

To respect confidentiality, the generic manufacturer and the specific terms of the agreement have not been disclosed.

SOURCE: Bioxel Pharma Inc.