SAINTE-FOY, QUEBEC -- (MARKET WIRE) -- 04/10/08 -- Bioxel Pharma Inc.(TSX VENTURE: BIP), a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, today announced that, on March 27, 2008, its Board of Directors granted 365,000 common share purchase options to its officers and employees, pursuant to its stock option plan. These options were granted at an exercise price of $0.135 per share, being the closing price of the Corporation's common shares on the TSX Venture Exchange on the last business day preceding the grant date. It should be pointed out that 769,000 options expired between January 1 and April 8, 2008.Bioxel has set up a deferred stock unit (DSU) plan for directors under which each director may receive in the form of DSUs a portion of the total annual compensation owed to him as a director of the Corporation. The number and price of the DSUs are based on the weighted average trading price of Bioxel's common shares over a five-day period. The DSUs are redeemable only once the participant has ceased to serve as a director. Thus, on March 31, 2008, the Corporation granted 205,769 DSUs to its directors, at an exercise price of $0.13 per unit.
ABOUT BIOXEL PHARMA
Bioxel Pharma Inc. is an emerging leader in biopharmaceuticals, focused on developing, manufacturing and marketing taxane active pharmaceutical ingredients and proprietary products for improved cancer therapy. Taxanes are used in drug products for the treatment of cancer and other diseases, including psoriasis, rheumatoid arthritis and cardiovascular disease.
The TSX Venture Exchange accepts no responsibility for the adequacy or accuracy of this press release.
Contacts:
Bioxel Pharma Inc.
Pascal Delmas, Pharm.D, MBA
President and Chief Executive Officer
418-654-9666, ext. 230
investisseurs@bioxelpharma.com
www.bioxelpharma.com
