Isotechnika Signs Agreement Granting Lux Biosciences Worldwide Ophthalmic Rights to ISA247

Edmonton, Canada (ots/PRNewswire) - Isotechnika Inc. announced
today that the Company has signed an agreement with Lux Biosciences,
Inc. of Jersey City, New Jersey granting Lux Biosciences worldwide
rights to develop and commercialize Isotechnika's lead drug, ISA247
for the treatment and prophylaxis of all ophthalmic diseases.

ISA247 is a novel calcineurin inhibitor currently being
investigated in a Phase III trial for the treatment of moderate to
severe psoriasis and a Phase IIb trial for the prevention of organ
rejection following transplantation.

Under the terms of the agreement:

- Lux Biosciences, Inc. will make upfront and milestone payments to
Isotechnika. Assuming all development milestones are achieved, the
amount of this deal will be $32,700,000 USD with Isotechnika
receiving an upfront payment of $3 million USD.
- Lux Biosciences, Inc. will pay Isotechnika royalties based on a
percentage of net sales.
- Lux Biosciences, Inc. has exclusive worldwide marketing rights of
ISA247 for all ophthalmic indications.
- Lux Biosciences, Inc. would be responsible, at its sole expense,
for pre-clinical and clinical development, registration, and
marketing of ISA247 for all ophthalmic indications.
- Isotechnika will be providing input on clinical trial design and
will be reviewing and consulting on all regulatory filings.
- A Joint Steering Committee ("JSC") with equal membership from
Isotechnika and Lux Biosciences, Inc. will be formed to oversee
the development and commercialization of all ophthalmic
indications.

"This agreement reconfirms the versatility of ISA247 as a multi-
platform technology," stated Dr. Randall Yatscoff, Isotechnika's
President and Chief Executive Officer. "Lux Biosciences' team has
extensive experience in this area and we are extremely pleased to
have them as a partner. We believe this agreement provides us with
another opportunity to optimize shareholder value."

Dr. Ulrich Grau, Lux Biosciences' President and CEO comments, "We
are delighted to be able to partner ISA247 for ophthalmic
indications, and I commend Isotechnika for its great efforts behind
its flagship molecule. We are highly impressed with the emerging
profile of ISA247 that combines efficacy with superior safety. We
believe that ISA247 has the potential to become the calcineurin
inhibitor of choice with great potential in several indications,
including ophthalmic indications."

Dr. Randall Yatscoff will chair a web cast this morning to provide
an overview of the agreement. The web cast will take place at 9:00
a.m. ET/ 7: 00 a.m. MT. All interested parties can access the live
web cast (listen only mode) by accessing
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal
sign)1497760 or through the home page of the Company's corporate Web
site at www.isotechnika.com.

About Isotechnika Inc.

----------------------

Isotechnika Inc. is an international biopharmaceutical company
headquartered in Edmonton, Alberta, Canada. Drawing upon its
expertise in medicinal chemistry and immunology, the Company is
focused on the discovery and development of novel immunosuppressive
therapeutics that are safer than currently available treatments. Its
entrepreneurial management and world- class team of scientists are
building a pipeline of immunosuppressive drug candidates for
treatment of autoimmune diseases and for use in the prevention of
organ rejection in transplantation. Isotechnika looks to become the
leader in development of immunosuppressant therapies.

Isotechnika's lead compound, ISA247 is an immunosuppressant
currently in an extension protocol of a Canadian Phase III human
clinical trial for the treatment of moderate to severe psoriasis. In
addition, ISA247 has successfully completed a Phase IIa trial for
kidney transplantation. The Company also has an additional
immunosuppressive compound in its drug pipeline, TAFA93 which is in
Phase I.

Isotechnika Inc. is a publicly traded company on the Toronto Stock
Exchange under the symbol ISA. More information on Isotechnika can be
found at www.isotechnika.com.

About Lux Biosciences Inc.

--------------------------

Founded in 2005, Lux Biosciences is a privately held biotechnology
company dedicated to the identification, optimization, development
and commercialization of products for the treatment of ophthalmic
diseases. The company has assembled a portfolio of product
candidates based on compounds with demonstrated utility in
non-ophthalmic indications that offer potential to address major
market opportunities in the ophthalmic field. ISA247, the most
advanced of these, is expected to enter pivotal clinical trials for
the treatment of uveitis by early 2007 and additionally offers a
pipeline of other potential product applications. More information on
Lux Biosciences can be found at www.luxbio.com .

Forward-Looking Statements

--------------------------

This press release may contain forward-looking statements.
Forward- looking statements, including the Company's belief as to
the potential of its products, the Company's expectations regarding
the issuance of additional patents and the Company's ability to
protect its intellectual property, involve known and unknown risks
and uncertainties, which could cause the Company's actual results to
differ materially from those in the forward- looking statements.
Such risks and uncertainties include, among others, the availability
of funds and resources to pursue research and development projects,
the ability to economically manufacture its products, the potential
of its products, the success and timely completion of clinical
studies and trials, the Company's ability to successfully
commercialize its products, the ability of the Company to defend its
patents from infringement by third parties, and the risk that the
Company's patents may be subsequently shown to be invalid or
infringe the patents of others. Investors should consult the
Company's quarterly and annual filings with the Canadian commissions
for additional information on risks and uncertainties relating to
the forward- looking statements. Investors are cautioned against
placing undue reliance on forward-looking statements.

Archived images on this organization are searchable through CNW
Photo Archive website at http://photos.newswire.ca. Images are free
to accredited members of the media. To request a free copy of this
organization's annual report, please go to http://www.newswire.ca
and click on Tools for Investors.

Trades on Toronto Stock Exchange - (TSX:ISA)

www.isotechnika.com

ots Originaltext: Isotechnika Inc.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information: For Isotechnika: Dr. Randall Yatscoff,
President & CEO, Isotechnika Inc., Phone: +1-(780)487-1600 ext. 246,
Fax: +1(780)-484-4105, E-mail: ryatscoff@isotechnika.com; Stephanie
Gillis-Paulgaard, Director, Corporate Communications, Isotechnika
Inc., Phone: +1(780)909- 4661, Fax: +1(780)-484-4105, E-mail:
sgillis-paulgaard@isotechnika.com; For Lux Biosciences: Ulrich Grau,
Ph.D., President and CEO, Lux Biosciences, Inc., Phone
+1-(917)518-2875, E-mail: ulrich.grau@luxbio.com; Joan Kureczka ,
Kureczka/Martin Associates, Phone: +1(415)-821-2413, E-
mail:jkureczka@comcast.net; Archived images on this organization are
searchable through CNW Photo Archive website at
http://photos.newswire.ca. Images are free to accredited members of
the media. To request a free copy of this organization's annual
report, please go to http://www.newswire.ca and click on Tools for
Investors.