BIOXEL PHARMA AWARDS STOCK OPTIONS TO ITS DIRECTORS, OFFICERS AND EMPLOYEES

Bioxel Pharma a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, announced today that its Board of Directors had awarded on February 27, 2006, 640,000 common share purchase options at an exercise price of $0.54 per share, being the closing price of the common shares of Bioxel on the TSX Venture Exchange on the last business day preceding the date of grant, to its directors, officers and employees under Bioxel's stock option plan.

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