Bioxel Wins Paclitaxel Purchase Agreement With A New European Generic Client.SAINTE-FOY, Quebec -- Bioxel Pharma Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BIP BIP - An incorrect singular of BIPS. One billion instructions per second is 1 BIPS, not 1 BIP. ), a leading manufacturer and supplier of taxane APIs and developer of targeted oncology drugs, today announced that it has completed a purchase agreement with a new European generic manufacturer. Bioxel's client is already marketing its generic paclitaxel paclitaxel /pac·li·tax·el/ (pak?li-tak´sel) an antineoplastic that promotes and stabilizes polymerization of microtubules, isolated from the Pacific yew tree (Taxus brevifolia); formulation in several EU countries and intends to obtain approvals throughout Europe in 2006. To respect confidentiality, the generic manufacturer and the specific terms of the transaction have not been disclosed. "The EU market push that we started in the first quarter is paying off," commented Pascal Delmas, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bioxel Pharma."This is the third significant transaction for Bioxel in Europe this year. These commercial successes demonstrate the competitiveness, quality and reliability of our products".The Corporation will continue to focus on the EU market where it anticipates securing paclitaxel supply agreements in the near future. Bioxel manufactures and sells cGMP paclitaxel to specialty pharmaceutical companies and generic formulation manufacturers. The Corporation's dedicated cGMP paclitaxel facility has a 120 kilogram annual manufacturing capacity. It is located at an FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. inspected pharmaceutical manufacturing site. Bioxel's paclitaxel is registered with US, EU and Canadian regulatory authorities, allowing its use worldwide. 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 rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. , Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. and cardiovascular disease. The Corporation sells cGMP paclitaxel and develops a portfolio of other generic taxane APIs and taxane-based proprietary products for improved cancer therapy. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed the contents of this press release and accepts no responsibility for the adequacy or the accuracy thereof. 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. Bioxel Pharma Inc. (TSX VENTURE:BIP) |
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