Positive Results Show Synthetic AFGP Preservation of Red Blood Cells

VANCOUVER, British Columbia, March 23, 2005 (PRIMEZONE) -- Third party evaluations of ProtoKinetix, Inc.'s proprietary synthesized Antifreeze Glycoproteins (AFGP's) confirm protection for human Red Blood Cell Hemolysis at temperatures down to -15 degrees C (minus fifteen degrees Celsius). The Rate of hemolysis (or destruction of red blood cells) was dramatically reduced with the presence of the AFGP molecule. ProteoCell Biotechnologies laboratory, an agent of ProtoKinetix, has shown that red blood cells, in a solution of synthetic AFGP, were preserved in an intact state. Ninety-eight percent (98%) of red blood cells were intact after being subjected to a temperature of -15 degrees C (minus fifteen degrees Celsius) for 9 hours in a solution of synthetic AFGP. The red blood cells that were not protected by the synthetic AFGP were all destroyed when exposed to this temperature.

Research conducted over the last 50 years has shown that natural AFGP's found in extreme climate fish, insects, plants and reptiles can preserve cells, tissues and organs at sub-zero temperatures. All of ProtoKinetix experimentation to date proves that the synthetic AFGP, developed by Dr. Jean-Charles Quirion, functions in the same way as does the naturally occurring AFGP. ProtoKinetix President Dr. John Todd explains: "The proven stability and non-toxicity of this molecule, in addition to the ability to preserve cells is very encouraging." Although testing will be ongoing with the preservation of various cells, tissues and organs, ProtoKinetix now feels that it is in a position to commence commercial exploitation.

ProtoKinetix President and CEO, Dr. John Todd, has been interviewed by AudioStocks regarding this new release and an AudioNews(tm) file will be available to be listened to beginning at 8 am PST. Please visit www.audiostocks.com in order to hear the interview.

About ProtoKinetix:

ProtoKinetix, Inc. is a scientific development company whose mission is the advancement of human health care. The Company's first entry into the commercial market place will be the launch of the first synthetically replicated antifreeze glycoprotein (AFGP). PKTX has developed a unique business model that brings together a vast pool of world recognized intellectual talent in a networked environment. This integrated scientific approach combines the disciplines of physics, chemistry and molecular biology in order to fast track product development.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission.

 On behalf of the Board of Directors,
 Dr. John Todd, President

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