Bioaccelerate Holdings Inc. Announces Equity Investment in Supratek Pharma Inc. NEW YORK, March 24 /PRNewswire-FirstCall/ -- Bioaccelerate Holdings Inc. (OTC:BACL) (BULLETIN BOARD: BACL) announced today the closing of a US$5.0 million equity investment in the common stock of Supratek Pharma Inc., a privately held company based in Montreal, Quebec. Supratek is focused on the development and commercialization of chemotherapeutic and cytostatic agents against metastatic and drug-resistant cancers. The funds will be used to further develop Supratek's lead investigational drug candidate, SP1049C, an anthracycline indicated for the treatment of solid tumors, malignant lymphomas, leukemias, soft tissue sarcoma, GI, and refractory breast cancer. "Supratek is developing a portfolio of compounds that have significant potential in the treatment of a wide range of cancers," stated Frank Armstrong, M.D., Chief Operating Officer of Bioaccelerate. "The collaboration with Supratek represents a further execution of our business strategy and we look forward to working closely with Supratek to bring SP1049C through clinical development and commercialization." "These funds will serve to advance the clinical development of SP1049C, which has demonstrated tolerability and efficacy in a Phase II study of patients with stage IV, non-resectable adenocarcinoma of the esophagus," said Oleg Romar, Chief Executive Officer of Supratek. "We welcome Bioaccelerate as a strategic investor with impressive senior management expertise in the pharmaceutical sector." In addition to this investment, Bioaccelerate and Supratek are jointly co- developing four novel oncology agents that are expected to enter clinical development within the next 12 months. About Supratek Supratek is a clinical-stage anticancer drug development company and a leader in the field of polymer-based therapeutics. Supratek is at the forefront of the next generation of pharmaceutics known as nanomedicines. Supratek is focused on developing novel drugs that improve the survival and quality of life of cancer patients who have reached metastatic stages. Additional information on Supratek is available at http://www.supratek.com/. About Bioaccelerate Holdings Inc. Bioaccelerate Holdings Inc. (BACL.OB) is a pharmaceutical development organization ("PDO"). It conducts its business directly and through its subsidiaries. The company holds majority equity interests in 10 biopharmaceutical companies, three of which are public, and holds minority interests in four biopharmaceutical companies, two of which are public. The company also holds a minority equity interest in a public nanotechnology company. Bioaccelerate's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Bioaccelerate Holdings is listed on the Over-The-Counter Bulletin Board under the symbol "BACL.OB." For more information on Bioaccelerate, visit the company's website at http://www.bioaccelerate.com/. Contact Information Bioaccelerate Holdings Inc. Christopher O'Toole Senior Vice-President 212-897-6849 Supratek Pharma Inc. Oleg Romar Chief Executive Officer 514-849-6094, ext. 102 DATASOURCE: Bioaccelerate Holdings Inc. and Supratek Pharma Inc. CONTACT: Christopher O'Toole, Senior Vice-President of Bioaccelerate Holdings Inc., +1-212-897-6849; or Oleg Romar, Chief Executive Officer of Supratek Pharma Inc., +1-514-849-6094, ext. 102, Web site: http://www.bioaccelerate.com/ http://www.supratek.com/

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