DRAXIS Licenses INFECTON for Infection Imaging.

Business Editors

MISSISSAUGA, Ontario--(BUSINESS WIRE)--March 15, 2001

DRAXIS (NASDAQ:DRAX)(TSE:DAX.)

DRAXIS Health Inc. (NASDAQ:DRAX)(TSE:DAX.) today announced that its radiopharmaceutical subsidiary, DRAXIMAGE Inc., has signed an agreement with BTG (LSE:BGC), a global leader in commercializing early-stage technologies.

The agreement gives DRAXIMAGE exclusive rights to manufacture and sell INFECTON in the United States, Canada, South America and Europe. Terms of the licensing agreement were not disclosed.

Dr. Martin Barkin, President and CEO of Draxis Health stated, "We are pleased to announce the addition of INFECTON to the Company's portfolio of radiopharmaceutical diagnostic imaging agents. INFECTON, a late stage product with a well-established proof of principle, complements DRAXIMAGE's existing pipeline, which includes Fibrimage(R) for the diagnosis of deep vein thrombosis and Amiscan(TM) for the early detection of heart attack. DRAXIMAGE will undertake the formulation, manufacturing and clinical development of INFECTON and expects to file for approval by the end of 2004. It is management's expectation that this product will service a sizeable market."

INFECTON, a complex of technetium-99m and ciprofloxacin, was initially discovered by Professor Keith Britton and Mr. Kishor Solanki at St. Bartholomew's Hospital in London, England. INFECTON is the first radiopharmaceutical to demonstrate an ability to distinguish between infection and inflammation by binding directly to bacteria in vivo. INFECTON's proof of principle was established in a clinical trial sponsored by the International Atomic Energy Agency (IAEA) involving over 573 patients in which INFECTON displayed excellent results with a sensitivity of 88.3%, a specificity of 86.5%, and an accuracy of 87.6%.

It is anticipated that INFECTON will be used to image a number of serious medical conditions, including fever of unknown origin, osteomyelitis (bone infection), wound infection, abdominal abscess, pneumonia, appendicitis, and tuberculosis. Many of these conditions are difficult to diagnose even by invasive means, or surgery.

Dr Roger Harrison, Director of Licensing & Transactions of BTG, said: "We are delighted that DRAXIMAGE is taking forward this imaging innovation. The technology is a good fit with the company's current product range in the diagnostics area. We believe that this product has the potential to detect bacterial infection more quickly and selectively, thereby benefiting a great number of patients."

BTG is a global leader in commercializing technologies that shape the future. BTG acquires, develops and licenses intellectual property rights (IPR) covering innovative products and processes in the diverse fields of life sciences and high technology. With its headquarters in London and offices in Philadelphia and Tokyo, BTG capitalizes on a global network of contacts in companies, universities and research institutions to identify and commercialize the most promising technologies. Since its founding in 1949, BTG has commercialized such major innovations as magnetic resonance imaging (MRI), Factor IX treatment for Hemophilia B, Interferon and broad-spectrum cephalosporin antibiotics.

BTG International Ltd. and BTG International Inc. are wholly owned subsidiaries of BTG plc. BTG plc is a London Stock Exchange techMARK listed company which is quoted under the symbol 'BGC'. The company holds a patent for INFECTON, which includes a sublicense for use of ciprofloxacin.

DRAXIMAGE, based in Kirkland Quebec, is Canada's leading manufacturer of radiopharmaceuticals and its products are available in many countries around the world. DRAXIMAGE specializes in the discovery, development, manufacturing and marketing of diagnostic and therapeutic products for use in Nuclear Medicine and Oncology. DRAXIMAGE has developed and built a fully robotic assembly line for BrachySeed(TM) which will enable the company to supply the rapidly growing North American demand for brachytherapy implants. Fibrimage(R), the Company's diagnostic agent for deep vein thrombosis is undergoing Phase III clinical trials in Canada. Amiscan(TM), a novel agent for the detection of Acute Myocardial Infarct, is currently in Phase II clinical trials in Canada and the United States.

DRAXIS Health Inc. is a diversified speciality pharmaceutical company operating in three niche markets: Radiopharmaceuticals (DRAXIMAGE), Canadian sales and marketing (DRAXIS Pharmaceutica) and Companion Animal Health (through its global alliance with Pfizer Inc.). DRAXIS supports its own as well as third party manufacturing requirements through its subsidiary, DRAXIS Pharma, located in Kirkland, Quebec.

Except for historical information, this news release contains certain forward-looking statements that involve risk and uncertainties, which may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, changing market conditions, clinical trial results, the establishment of new corporate alliances, the impact of competitive products and pricing, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities