Bioxel Pharma Inc.: Grant of Options and Deferred Stock Units

SAINTE-FOY, QUEBEC, Apr 10 (MARKET WIRE) --
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.

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

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