EquiTech Corporation Announces Manufacturing Agreement

TSX Venture Exchange Symbol: EQT

EDMONTON, AB, March 24 /CNW/ - EquiTech Corporation (TSX-V:EQT) ("EquiTech"), a biopharmaceutical company, today announced that it has retained the services of Patheon, (Mississauga, Ont) to manufacture the Company's lead compound, ZAG-1701, a fast-absorbing ibuprofen in preparation for clinical trials.

EquiTech's lead compound, ZAG-1701, a fast-absorbing ibuprofen, has been developed using the Company's patent-pending absorption enhancing technology.

As demonstrated in EquiTech's laboratory, 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. The worldwide pain medication market is valued at more than US$23 billion, with an annual growth rate of approximately 3.5%.

About Patheon

Patheon (TSX:PTI; www.patheon.com) is a leading global provider of drug development and manufacturing services. Patheon operates a network of eleven facilities in Canada, the United States and Europe, employing 3,600 people.

The Company serves a client base of more than 100 pharmaceutical and biotechnology companies, including 16 of the world's 20 largest pharmaceutical companies.

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 currently has approximately 6 million common shares outstanding.

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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For further information: please contact: James A. Chivers-Wilson, President & CEO, EquiTech Corporation, (780) 430-1633; Jay Hussey, Investor Relations, The Equicom Group Inc., (416) 815-0700 ext. 225.

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