ProtoKinetix Sells Exclusive Rights to One of the Numerous AAGP™ Applications

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ProtoKinetix Sells Exclusive Rights to One of the Numerous AAGP™ Applications

VANCOUVER, British Columbia--(BUSINESS WIRE)-- ProtoKinetix (OTCBB: PKTX) (www.protokinetix.com) has entered into the sale of exclusive rights to use it's AAGP™ molecule in all blood and blood platelet preservation applications. These rights have been sold to Intrepid Innovations Corporation for $2,500,000 USD after their extensive review of the AAGP™ molecule's ability to extend blood and blood platelet shelf life.

Intrepid Medical Technologies is a wholly own subsidiary of Intrepid Innovations Corporation that has been specifically funded to address the worldwide need for blood and blood platelet storage and preservation. Intrepid Medical (www.intrepidmedical.net) will be headed up by Mr. Tom Snyder. Tom is a graduate of Princeton University and Harvard Business School. Mr. Snyder brings financial and entrepreneurial experience to Intrepid Medical and has experience in blood diagnostics and therapeutics with Hyland Laboratories and Fenwal divisions of Baxter International.


This Agreement will serve as a blueprint for the commercialization of the numerous AAGP™ applications. The partnering format gives ProtoKinetix the flexibility to structure the sale of application rights to almost any qualified partner. This approach minimizes the cash requirement for product development and the fastest possible entry into the market.

About Intrepid

Intrepid Innovations Corporation is a diversified operation that has acquired, licensed or is developing a wide range of Intellectual Property Rights that offer the opportunity to integrate and commercialize these innovations on a global basis. These proprietary technologies range from wind power generation, oil and natural gas production, wood waste by-products to medical waste disposal and blood preservation.

About ProtoKinetix

ProtoKinetix, Inc. is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP™) that dramatically enhance the therapeutic results and reduce the cost of stem cell medicine. Due to the anti-inflammatory effect of AAGP™ molecules, the Company is currently targeting the direct treatment of diseases that have a major inflammatory component.

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.

Ross L. Senior -President and CEO



ProtoKinetix, Inc.
Blair Henderson, 604-926-6627

KEYWORDS:   North America  Canada

INDUSTRY KEYWORDS:

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