Skye Pharmatech Inc. Enters into Clinical Investigation Agreement With a Major Japanese Pharmaceutical Company.

Business Editors

TORONTO--(BUSINESS WIRE)--Feb. 21, 2000

Skye PharmaTech Inc.(CANADIAN DEALING NETWORK:SKYE.) (CANADIAN DEALING NETWORK:SKYE.WT.) Skye PharmaTech Inc. announced today that it has entered into a Clinical Investigation Agreement with a major Japanese pharmaceutical company, currently developing a new stroke therapeutic; to test its clinical stroke samples using Skye's SMART S-100 ELISA Test Kits. The terms of the agreement are confidential.

Part of the service to be provided under the Clinical Investigation Agreement will be to utilize Skye's SMART S-100 Test Kit to determine concentrations of S-100 in all the clinical samples. Previous clinical studies conducted by Skye have shown that S-100 may be a valuable biochemical marker for brain injury such as stroke. The results of these tests are expected to assist pharmaceutical companies in proving the efficacy of their drug.

Dr. George Jackowski, President and Chief Scientific Officer, stated "this agreement marks the beginning of the use of Skye's SMART product lines in major pharmaceutical companies stroke clinical trials, and validates our products in the pharmaceutical arena."

Skye PharmaTech Inc. common shares and purchase warrants currently trade on the Canadian Dealing Network ("CDN") under the symbols "SKYE" and "SKYE. WT". There are currently 3,507,631 shares and 3,713,330 warrants issued and outstanding.