EquiTech Corporation Announces that Dr. Abraham Sunshine Has Agreed to Become Chairman of EquiTech's Scientific Advisory Board

JUNE 10, 2002

EDMONTON, ALBERTA--EquiTech Corporation (EQT - TSX Venture Exchange) is pleased to announce that Dr. Abraham Sunshine, Professor of Clinical Medicine at New York University School of Medicine in New York, New York has agreed to become chairman of EquiTech's Scientific Advisory Board.

Dr. Sunshine is well known for his innovations in the area of pain management. He has published extensively on Analgesics and Clinical Pharmacology. He holds more than 15 patents in this area. He has chaired the US FDA - American Society for Clinical Pharmacology and Therapeutics joint committee on the guidelines for clinical trials of analgesic drugs. Dr. Sunshine has been instrumental in helping numerous companies gain FDA approval for human clinical trials of analgesic medications. Dr. Sunshine is one of the few internationally recognized leaders in the area of clinical trials of analgesic drugs, he has been involved in the design and implementation of many clinical trials for analgesic drugs which are now on the market.

Dr. Sunshine is an active member of several professional organizations, including the American Society for Clinical Pharmacology and Therapeutics, the American College of Physicians and the New York Academy of Medicine. Dr. Sunshine has been recognized with such honors as the John J. Bonica Award, presented at the 19th Annual John J. Bonica Award and Lecture of the Eastern Pain Association at Rockefeller University in New York, and the Henry W. Elliot Award for Distinguished Services, presented at the 99th Annual Meeting of the American Society for Clinical Pharmacology and Therapeutics in New Orleans.

"We are extremely pleased to have someone with the stature and experience of Dr. Sunshine as chairman of our Scientific Advisory Board” said James Chivers-Wilson President and CEO of EquiTech Corporation. “Dr. Sunshine's experience with the FDA and in clinical trials on pain relief medication will have a very strong impact on our ability to successfully develop better performing pain relief products based on the Corporations enhanced absorption technology."

Dr. Sunshine quoted - "I am very pleased to be working with Dr. Fakhreddin Jamali the discoverer of the technology and developer of the company's lead compound. The enhanced absorbing technology, as demonstrated in the lab, has the potential to improve the absorption and hence the performance of pain relief medication currently available to consumers. A scientifically designed clinical trial in humans is the corporation’s next step in bringing the lead compound closer to market."

Equitech Corporation is a publicly listed biopharmaceutical company with a unique technology platform to create and develop better absorbing pharmaceutical products that are taken orally. EquiTech Corporation's lead compound is a fast absorbing oral medication for the treatment of moderate acute pain.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U.S. Securities Act, 1933, as amended, and subject to certain exemptions may not be offered or sold in the United States or to U.S. persons. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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