PROCYON COMPLETES ACQUISITION OF BIOXALIS

Procyon Biopharma today announced the successful acquisition of Bioxalis Medica (Bioxalis), a Montreal-based biopharmaceutical company committed to the discovery and development of targeted liposomes for cancer treatment and the completion of a concurrent non-brokered $3,500,000 financing of new cash by way of a private placement in debentures. The acquisition of Bioxalis will bring to Procyon's pipeline an innovative technology platform for cancer therapy, TVT-Dox which is 12 months from an IND.

BioSpace (http://www.biospace.com/news_story.cfm?StoryID=20491320&full=1)