Bioxel Pharma Directors and Executive Officers Show Support with Intended Purchase of Shares on the Market

Bioxel Pharma Inc. (TSX VENTURE:BIP) a leading manufacturer of taxane active pharmaceutical ingredients (APIs) and developer of targeted oncology drugs, announced today that it has received confirmation from its directors and executive officers that they intend to purchase in the aggregate approximately $150,000 of common shares on the market at prevailing market prices. It is expected that the purchase will take place on the TSX Venture Exchange over the next few days, with a view to complete such purchase prior to the pricing of the previously announced public offering of up to $8 million of units, each such unit being comprised of one common share of Bioxel Pharma and one half common share purchase warrant.

The purchase is intended as a show of support to the company in light of the recent price performance and reflects the directors' and executive officers' view that the current market price for the shares does not reflect the full value of the Company's business and future prospects.

Pursuant to undertakings under the engagement letter in respect of the contemplated public offering of units, the directors and executive officers are restricted from selling shares, including shares purchased as contemplated hereunder, until a period of 90 days following closing of the offering, without the prior consent of the lead agent under the offering.

FORWARD-LOOKING STATEMENTS

Some of the statements made herein may constitute forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause Bioxel Pharma's actual results, performance or achievements to be materially different from those expected or implied by any of Bioxel Pharma's statements. Actual events or results may differ materially. Bioxel Pharma disclaims any intention, and assumes no obligation, to update these forward-looking statements.

ABOUT BIOXEL PHARMA

Bioxel Pharma Inc. is an emerging leader in biopharmaceuticals, focused on developing, manufacturing and marketing taxane pharmaceutical ingredients. Taxanes are used in drug products for the treatment of cancer and other diseases, including psoriasis, rheumatoid arthritis, Alzheimer's disease and cardiovascular disease. Bioxel Pharma, sells cGMP paclitaxel and develops a portfolio of other generic taxane APIs and taxane-based proprietary products for improved cancer therapy.

The TSX Venture Exchange has not reviewed the contents of this press release and accepts no responsibility for the adequacy or the accuracy thereof. www.bioxelpharma.com