EquiTech Corporation Provides Update on Lead Product

TSX Venture Exchange Symbol: EQT

EDMONTON, AB, Feb. 5 /CNW/ - EquiTech Corporation (TSX-Venture:EQT) ("EquiTech"), today announced that it plans to submit a clinical trial application to investigate the safety, tolerability and efficacy of ZAG-1701 in two groups; initially in dental patients who have undergone wisdom tooth extraction. Follow on studies may include migraine sufferers. The worldwide pain medication market is valued at more than US$23 billion, with an annual growth rate of approximately 3.5%.

"We have met with the Food and Drug Administration (FDA) in Rockville, MD to discuss the Company's plans to file an Investigational New Drug (IND) application for our lead product, ZAG-1701," said Mr. James Chivers-Wilson, President and CEO of EquiTech. "Based on our discussions with the FDA, we are preparing for the next steps to conduct clinical trials in humans to prove the safety and pain relief effectiveness of the Company's enhanced absorption formulation of ibuprofen."

Also in preparation for the clinical trial, the Company has engaged CanReg Inc. to provide assistance in its IND submission. CanReg is one of the largest regulatory affairs and market access consulting firms in North America.

ZAG-1701 has been developed using the Company's patent-pending enhanced absorbing technology. As demonstrated in EquiTech's laboratory by Company scientists, ZAG-1701 has the potential to be more rapidly absorbed into the bloodstream which may result in more rapid onset of pain relief when compared to existing over-the-counter pain relief medications.

About EquiTech Corporation

EquiTech Corporation is a biopharmaceutical company with patent pending technology to create and develop better absorbing pharmaceutical products that are taken orally. EquiTech's lead compound is a fast absorbing ibuprofen for the treatment of moderate acute pain. EquiTech trades on the TSX Venture Exchange under the symbol EQT and has approximately 6 million common shares outstanding. For further information, visit www.equitechcorporation.com.

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. This press release may contain forward-looking statements, i.e. information that is not strictly historical, concerning EquiTech's business and prospects. Forward-looking statements are subject to a number of risks and uncertainties. Actual events and results may differ materially from those discussed in this press release, due to factors including research, development, commercial and market risks.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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