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Biotechnologisch veränderte Zellen erzeugen Spinnenseide
Material mit faszinierenden Eigenschaften

21.01.2002 - Montreal, Québec, Canada, and Natick, Massachusetts - Die
Fäden, die Spinnen für Ihre Netze produzieren sind für die Materialforschung
schon seit geraumer Zeit von Interesse. Die in zpeziellen Drüsen produzierte
Faser weist erstaunliche Eigenschaften bezüglich Festigkeit und Elastizität
auf. Seit vielen jahren versuchen Wissenschaftler diese Fasern im Labor
herzustellen - bislang ohne Erfolg.

Den Forschern der kanadischen Firma NEXIA Biotech gelang es nun durch
gentechnische Manipulation von Säugetierzellen die richtige
Proteinmischung für eine Faser herzustellen, die den Eigenschaften der
Spinnenfäden sehr nahe kommt. Besonders gut eigneten sich Zellen aus
Eutern von Kühen oder Nieren von Hamstern, da diese Zellen geignet sind
große Mengen von Proteinen zu produzieren und auszuschütten so ein
Bericht im aktuellen Science Magazin (Lazaris et al., 2002-01-18. Science.
Vol. 295:472-476)

Die unter dem Produktnamen BioSteel® entwickelte Faser eröffne neue
Möglichkeiten, so Nexia-Chef Jeffrey Turner. Er ist überzeugt, dass das
biologisch abbaubare Material viele Industrielle Anwendungen finden wird.
So eigne es sich etwa für spezielle hochfeste Schutzkleidung für Militärs,
oder als Nähseide in der Chirurgie.

Quelle: NEXIA Biotech
Gewissenlose Genmanipulation?!
Künstliche Spinnenseide hergestellt
Quelle: bild der wissenschaft online
Kanadischen und amerikanischen Wissenschaftlern ist es erstmals gelungen, künstliche Spinnenseide herzustellen. Die Forscher
setzten Spinnengene in Zellen von Hamstern und Kühen ein und produzierten in Zellkulturen das einzigartige Spinneneiweiß, das
sie dann zu hochfesten Seidenfäden versponnen. Über ihren Fortschritt berichten die Wissenschaftler im Fachmagazin "Science"
(Ausg. 295, S. 472).
Die zehn bis vierzig tausendstel Millimeter dünnen, künstlichen Fäden wiesen ähnliche Eigenschaften auf wie natürliche
Spinnenseide, berichten die Wissenschaftler des kanadischen Biotechunternehmens Nexia Biotech und des Biochemischen Labors
der US-Armee in Natick. Die Forscher erhoffen sich vielfältige Anwendungen für das Material, etwa als Faden in der Medizin, zur
Herstellung biologisch abbaubarer Angelschnüre oder für besonders reißfeste Bekleidung. Statt aus Zellkulturen wollen die
Wissenschaftler das künstliche Spinnenprotein, aus dem die feine Seide besteht, künftig aus der Milch genmanipulierter Ziegen
gewinnen.
Wegen ihrer unübertroffenen Eigenschaften steht künstliche Spinnenseide schon seit Jahren ganz oben auf der Wunschliste von
Materialforschern aus aller Welt. Auf das Gewicht bezogen ist sie fünf Mal so belastbar wie Stahl und deutlich stabiler als selbst
High-Tech-Fasern wie Kevlar. Alle Versuche, aus Zuchtspinnen das spezielle Protein zu gewinnen, aus dem die Tiere ihre Fäden
spinnen, sind jedoch gescheitert. So blieb den Forschern nur, die für die Produktion zuständigen Gene zu entschlüsseln und sie in
fremde Zellen einzusetzen.
Nexia

Nexia Biotechnologies is one of the world`s largest producers of authentic recombinant spider silk, and a
leading North American animal transgenic company. Nexia manufactures biomaterials and therapeutic
proteins in the milk of transgenic dairy goats. This technology combines the large scale, cost-effective
dairy infrastructure with recombinant DNA technology to produce rare, complex proteins.

Infrastructure

Nexia currently has 100 highly trained employees, a centralized head office and laboratories in the
Montréal suburb of Vaudreuil-Dorion. Nexia supports 3 production farms, two situated on a 85 acre site in
Québec and one situated on a 60 acre site in upstate New York. Nexia has recently completed an Initial
Public Offering, raising $40 million CDN. Nexia is traded on the Toronto Stock Exchange (TSE) under the
symbol NXB. It has received approximately $24.7 million from prominent investors such as MDS Capital
Corp., Ontario Teacher`s Pension Plan, Société Innovatech du Grand Montréal, Royal Bank Ventures
Inc., Sofinov (a subsidiary of the Caisse de dépôt et placement du Québec), the Canadian Medical
Discoveries Fund, and four Asian investor groups, led by 1st BioVenture Capital Corp.

Technical Expertise

Nexia`s internationally respected team has special expertise in molecular and cellular biology,
embryology, dairy science and animal husbandry, all key elements required for the production of
recombinant proteins in the milk of transgenic animals.

What Competitive Advantages Does Nexia Have?

Nexia has developed proprietary technology which significantly reduces the time and cost to develop
value-added products in the milk of transgenic BELE® goats. The BELE® (Breed Early, Lactate Early)
goat system reduces the time to generate a transgenic goat as compared to standard goats or sheep.
Prior to any animal work, the gene of interest is thoroughly characterized within Nexia`s patented
mammary cell culture system (MAC-T) to improve the efficiency of rapid development. Nexia`s products
include two classes of proteins: biomaterials - lead product - a recombinant spider silk (BioSteel®) and;
pharmaceuticals - lead product - recombinant tPA (tissue plasminogen activator).
Nexia

Nexia Biotechnologies is one of the world`s largest producers of authentic recombinant spider silk, and a
leading North American animal transgenic company. Nexia manufactures biomaterials and therapeutic
proteins in the milk of transgenic dairy goats. This technology combines the large scale, cost-effective
dairy infrastructure with recombinant DNA technology to produce rare, complex proteins.

Infrastructure

Nexia currently has 100 highly trained employees, a centralized head office and laboratories in the
Montréal suburb of Vaudreuil-Dorion. Nexia supports 3 production farms, two situated on a 85 acre site in
Québec and one situated on a 60 acre site in upstate New York. Nexia has recently completed an Initial
Public Offering, raising $40 million CDN. Nexia is traded on the Toronto Stock Exchange (TSE) under the
symbol NXB. It has received approximately $24.7 million from prominent investors such as MDS Capital
Corp., Ontario Teacher`s Pension Plan, Société Innovatech du Grand Montréal, Royal Bank Ventures
Inc., Sofinov (a subsidiary of the Caisse de dépôt et placement du Québec), the Canadian Medical
Discoveries Fund, and four Asian investor groups, led by 1st BioVenture Capital Corp.

Technical Expertise

Nexia`s internationally respected team has special expertise in molecular and cellular biology,
embryology, dairy science and animal husbandry, all key elements required for the production of
recombinant proteins in the milk of transgenic animals.

What Competitive Advantages Does Nexia Have?

Nexia has developed proprietary technology which significantly reduces the time and cost to develop
value-added products in the milk of transgenic BELE® goats. The BELE® (Breed Early, Lactate Early)
goat system reduces the time to generate a transgenic goat as compared to standard goats or sheep.
Prior to any animal work, the gene of interest is thoroughly characterized within Nexia`s patented
mammary cell culture system (MAC-T) to improve the efficiency of rapid development. Nexia`s products
include two classes of proteins: biomaterials - lead product - a recombinant spider silk (BioSteel®) and;
pharmaceuticals - lead product - recombinant tPA (tissue plasminogen activator).
Researching the Next Generation of Products:

Nexia`s lead products are biomaterials and pharmaceuticals used to treat life-threatening disease. Nexia produces
these recombinant proteins in the milk of our transgenic BELE® goats. Nexia will further process the milk to purify
recombinant products. BioSteel® filaments are environmentally friendly and will be used in applications where
strength and flexibility are required, such as medical devices or body armour.

Corporate Offices and Research & Development Laboratory:
Nexia Biotechnologies` Corporate Offices and Research and Development facilities are located on the western tip
of the Island of Montreal, on Montreal Biotech Highway. This 11,000 square foot facility includes administrative
offices, R&D laboratories and offices for our scientists.

Molecular Biology
This area is dedicated to molecular biology and protein purification.

Cell Culture Facility
This is a clean (Class 100,000) room dedicated to cell culture technologies, including scale-up production
capabilities (ie. hollow fiber bioreactors).

Embryology
These clean rooms are equipped for microinjection, nuclear transfer and embryo culture.

Caprine Production Farm:
Nexias` Caprine production farm, Canada`s first transgenic protein production facility, was officially opened in
October, 1997. Complex II was completed in August, 1998.



Caprine Research Farm


Caprine Production Farm Overview:

Stringent criteria for site selection, including location and farming history
Canada`s first transgenic protein production facility
Complex I opened in October, 1997. (500 head)
Complex II opened in August, 1998. (500 head)
Advanced Biosecurity Zone limits disease vector intrusion
Certified scrapie-free (TSE-free) goats from New Zealand (Complex II)
High standards of animal husbandry and welfare (CCAC - compliance)
Farm management (24 hour presence) and veterinary services on site
Comprehensive health surveillance and feed and water analysis
Strict compliance with written Standard Operating Procedures (SOPs)

Caprine Breeding Farm:
located in Plattsburgh, New York part of the decommissioned Strategic Command Base


Caprine Breeding Farm:

All our production facilities:

Advanced Biosecurity Zone limits disease vector intrusion
Compliance with all Federal Regulations
Farm management (24 hour presence)
Comprehensive health surveillance and feed and water analysis
Strict compliance with written Standard Operating Procedures (SOPs)



About our Research and Development Platform
Nexia has developed a two stage integrated approach to goat transgenics which allows the company to have the
fastest program from DNA construct to recombinant proteins in milk.

The Company`s proprietary position with in vitro (MAC-T) screening methods, facilitate construct performance
evaluation. These biologically meaningful systems provide rapid screens of DNA construct integrity / function
and gene product authenticity (secretion, post-translational modifications) within ruminant mammary cells.

The large scale production of recombinant proteins is via transgenic BELE® goats. Our BELE® (Breed Early,
Lactate Early) transgenic goat system features short generation times, a multiplicity of births, lack of seasonality
and good milk production. The BELE® goat system permits rapid "access to the goat genome" on a cost/time
effective basis. Further, Nexia has a major R&D program devoted to the development and use of goat nuclear
transfer techniques as a means of improving the efficiency of gene transfer and generation of transgenic animal
founders.
Nexia Announces 2002 Year-End Financial Results and
Provides Corporate Development Updates
Wednesday October 23, 7:30 am ET

MONTREAL, Oct. 23 /CNW/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced its financial
results for the fiscal year ended August 31, 2002. Nexia also announced several corporate developments
including a planned regulatory filing of BioSteel(R)-M sutures by 2003 and positive preliminary
biocompatibility results of prototype BioSteel(R) fiber. In its financial results, Nexia reported a net loss of
$11.2 million (all amounts are in Canadian dollars) which was in line with its expectations.

MAJOR HIGHLIGHTS IN 2002 INCLUDE:

- Nexia and the US Army reported in the prestigious journal Science the
world`s first spider silk fibers spun from man-made materials with
similar properties to that of natural spider silk.
- Nexia began the development of a commercial spinning process for
BioSteel(R) product categories and signed a development agreement with
Acordis Speciality Fibres.
- Nexia continues to be in a strong financial position with $27.1 million
in cash, cash equivalents, and short term investments.


BIOSTEEL(R)-M PROGRESS

The Company intends to file a regulatory application by the fall 2003 for its BioSteel(R)-M sutures. Towards
BioSteel(R)-M suture development, Nexia recently announced an expanded agreement with Acordis
Speciality Fibres, an international company experienced in producing medical textiles, to develop a
commercial spinning process by spring 2003. Nexia believes that an early 2003 spinning process will allow it
to complete prototype suture development before mid-calendar year 2003, complete development, and file
a regulatory application with the FDA in the US by fall 2003.

"Spider silk is an amazing natural material and has many properties which are attractive across a broad
range of medical device applications. Our BioSteel(R)-M suture development program represents our most
immediate revenue opportunity and is the initial focus of our product development activity," said Dr. Jeffrey
D. Turner, President & CEO of Nexia. "During these challenging economic times, our strategy must be to
accelerate development to achieve product sales as quickly as possible and build the company`s value. We
believe during the next six to twelve months, the onus will be on us to prove we are moving precisely in that
direction."

Nexia`s BioSteel(R)-M product category focuses on the medical applications of BioSteel(R) spider silk fiber.
Nexia has identified three BioSteel(R)-M products that it will pursue during 2003: sutures, surgical meshes
for hernia repair, and replacement anterior cruciate ligaments (ACL) for knee reconstruction. The potential
value per gram for BioSteel(R) in these markets is substantial, making these projects Nexia`s highest
priority.

Nexia reported the positive results of the first of a series of biocompatibility tests of prototype BioSteel(R)
fiber. Although these results will have to be repeated with material in final product form (e.g., manufactured
sutures which have been packaged and sterilized), Nexia has confirmed that the in vivo histology of Nexia`s
prototype BioSteel(R)-M fibers was indistinguishable from that of silkworm fibers commonly used in sutures.

BIOSTEEL(R)-I UPDATE

As Nexia has reported previously, it is focusing its efforts on BioSteel(R)-M, but continues to evaluate high
value, low volume opportunities for BioSteel(R)-I. Additionally, Nexia is in discussions with a few potential
commercial development partners for developing BioSteel(R)-I in certain sporting gear applications which
have straightforward development pathways.

Nexia is also working on new varieties of BioSteel(R) proteins that will be purified and spun into fibers that
Nexia hopes will have different properties of strength, elasticity and biodegradability, potentially leading to
different applications. Nexia believes it will be able to evaluate and report these properties within the next
twelve months.

BIOPHARMACEUTICALS UPDATE

Regarding its clot-busting biopharmaceutical, tPA, Nexia is in discussions with potential partners in Latin
America and East Asia concerning development and distribution of tPA for these markets. Additionally, Nexia
continues to work on NEX-91, which has become a significant effort in the Company` biopharmaceutical
pipeline and the Company expects to report on this program in the near future.

FINANCIAL REVIEW

In line with expectations, the net loss for fiscal year 2002 increased by $4.5 million to $11.2 million from $6.7
million for fiscal year 2001. The increase was primarily due to planned increases in research and
development activities and transgenic protein development and product development of $835,000, lower
investment tax credits of $785,000 and interest revenues of $659,000, increased administrative expenses
that support research and development activities and additional corporate and business development
activities of $1.4 million, increased amortization expense of $508,000 and a net write down of intellectual
property of $330,000.

Nexia had cash, cash equivalents and short-term investments of $27.1 million at August 31, 2002 a
decrease of $13.5 million from $40.6 million as at August 31, 2001. In addition, Nexia also had $615,000 of
investment tax credits receivable and $793,000 of other current assets. The major uses of funds during
2002, included $10.8 million used for operations and $2.6 million invested in capital assets, compared to
$4.4 million and $3.2 million respectively during 2001.

Under Nexia`s current operating plan, management believes that the Company`s current cash, cash
equivalents, short-term investments and other current assets should be sufficient to finance its operations
and capital needs through fiscal 2004. However, in light of the inherent uncertainties associated with
research and development programs, scale-up and commercialization of products, ability to enter into
collaborative research and development agreements in the future, the results of clinical testing and
regulatory approval of certain products and ability to secure licensing agreements, it may become
necessary for the Company to either (i) raise additional funds for the continuing development and marketing
of its products, or (ii) delay or scale-back its development programs.

CONFERENCE CALL AND WEBCAST

Nexia will be holding a conference call regarding this press release on Wednesday, October 23, 2002 at
4:30 pm, and this call will be broadcasted live on the web at www.nexiabiotech.com or

http://www.cnw.ca/webcast/pages/NexiaBiotechnologies20021023… .

ABOUT NEXIA

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and
biopharmaceutical products with medical and industrial applications. The Company`s lead product under
development is BioSteel(R). For more information, please visit Nexia`s website at www.nexiabiotech.com.


Audited Financial Statements

CONSOLIDATED BALANCE SHEETS(x)

As at August 31
2002 2001
$ $
_________________________________________________________________________

ASSETS
Current
Cash and cash equivalents 3,069,425 7,652,230
Short-term investments 24,048,111 32,953,958
Investment tax credits receivable 615,000 1,069,538
Receivables 353,024 612,484
Prepaids and other assets 439,510 449,951
_________________________________________________________________________
Total current assets 28,525,070 42,738,161
Capital assets 6,955,291 5,733,208
Intellectual property 1,143,121 1,263,412
_________________________________________________________________________
36,623,482 49,734,781
_________________________________________________________________________
_________________________________________________________________________

LIABILITIES AND SHAREHOLDERS` EQUITY
Current
Accounts payable and accrued liabilities 955,252 2,736,012
Current portion of long-term debt and obligations
under capital leases 294,530 339,819
_________________________________________________________________________
Total current liabilities 1,249,782 3,075,831
Long-term debt 345,633 647,594
_________________________________________________________________________
1,595,415 3,723,425
_________________________________________________________________________

Shareholders` equity
Capital stock 64,295,356 64,058,728
Deficit (29,267,289) (18,047,372)
_________________________________________________________________________
_________________________________________________________________________
Total shareholders` equity 35,028,067 46,011,356
_________________________________________________________________________
36,623,482 49,734,781
_________________________________________________________________________
_________________________________________________________________________

(x) All amounts in Canadian dollars


CONSOLIDATED STATEMENTS OF OPERATIONS(x)

Years ended August 31
2002 2001
$ $
_________________________________________________________________________

REVENUES
Interest income 926,983 1,585,493
_________________________________________________________________________
926,983 1,585,493
_________________________________________________________________________

EXPENSES
Research and development 7,570,300 6,734,837
Investment tax credits (896,764) (1,682,213)
_________________________________________________________________________
Net research and development 6,673,536 5,052,624
Administrative 3,877,548 2,501,846
Amortization 1,179,110 670,657
Interest on long-term debt 86,706 100,450
Write-down of intellectual property 330,000 -
_________________________________________________________________________
Total expenses 12,146,900 8,325,577
_________________________________________________________________________
Net loss 11,219,917 6,740,084
_________________________________________________________________________
_________________________________________________________________________

Basic and diluted loss per share 0.49 0.32
_________________________________________________________________________
_________________________________________________________________________

Weighted average number of shares outstanding
during the year 22,949,808 21,156,091
_________________________________________________________________________
_________________________________________________________________________


CONSOLIDATED STATEMENTS OF DEFICIT(x)

Years ended August 31
2002 2001
$ $
_________________________________________________________________________
Deficit, beginning of year 18,047,372 11,307,288
Net loss 11,219,917 6,740,084
_________________________________________________________________________
Deficit, end of year 29,267,289 18,047,372
_________________________________________________________________________
_________________________________________________________________________

(x) All amounts in Canadian dollars


CONSOLIDATED STATEMENTS OF CASH FLOWS(x)

Years ended August 31
2002 2001
$ $
_________________________________________________________________________

OPERATING ACTIVITIES

Net loss for the year (11,219,917) (6,740,084)
Add items not affecting cash:
Amortization of property, plant and
equipment 1,085,982 607,969
Amortization of intellectual property 93,128 62,688
Write-down of intellectual property 330,000 -
_________________________________________________________________________
(9,710,807) (6,069,427)

Changes in non-cash working capital balances
relating to operations (1,056,321) 1,671,833
_________________________________________________________________________
Cash flows relating to operating activities (10,767,128) (4,397,594)
_________________________________________________________________________

INVESTING ACTIVITIES
Acquisitions of property, plant and equipment (2,308,065) (2,782,372)
Acquisition of intellectual property (302,837) (421,505)
Purchase of short-term investments (24,203,872) (38,678,847)
Maturity of short-term investments 33,109,719 10,788,749
Changes in non-cash working capital balances
relating to acquisitions of property, plant
and equipment - (597,049)
_________________________________________________________________________
Cash flows relating to investing activities 6,294,945 (31,691,024)
_________________________________________________________________________

FINANCING ACTIVITIES
Issuance of common shares 236,628 42,425,790
Share issue costs - (3,436,854)
Repayment of long-term debt (282,446) (260,936)
Repayment of obligations under capital leases (64,804) (75,662)
_________________________________________________________________________
Cash flows relating to financing activities (110,622) 38,652,338
_________________________________________________________________________
Net change in cash and cash equivalents
during the year (4,582,805) 2,563,720
Cash and cash equivalents, beginning of year 7,652,230 5,088,510
_________________________________________________________________________
Cash and cash equivalents, end of year 3,069,425 7,652,230
_________________________________________________________________________
_________________________________________________________________________

Supplemental cash flows information
Cash paid during the year for:
Interest 86,706 100,450
_________________________________________________________________________

(x) All amounts in Canadian dollars



Except for the historical information presented herein, matters discussed

herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward-looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors, including risks and uncertainties discussed in Nexia`s
filings with Canadian regulatory authorities. Nexia is developing BioSteel(R)
and other products for the medical, industrial, and military performance fiber
markets. There can be no assurance that such development efforts will succeed,
that such products will receive required regulatory clearance or that, such
products would ultimately achieve commercial success.

For further information

Media Contact : Jeffrey D. Turner, Ph.D.President and CEO, Nexia Biotechnologies Inc,
450-424-8920, jturner@nexiabiotech.com
Investor Relations: Mark Kaufmann, VP, Corporate Development & Biopharmaceuticals, Nexia
Biotechnologies Inc., 450-424-8916, mkaufmann@nexiabiotech.com or Andrea Gilpin,
Ph.D.Manager, Investor Relations, Nexia Biotechnologies Inc., 450-424-8918,
agilpin@nexiabiotech.com



Source: Nexia Biotechnologies Inc.
Nexia Reports First Quarter 2003 Results and Announces
BioSteel(R) Spinning Progress
Thursday January 16, 8:01 am ET

MONTREAL, Jan. 16 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced its financial
results for the first quarter of fiscal year 2003, ended November 30, 2002, and reported a net loss of $2.6 million,
which was in line with its expectations. Nexia also today announced BioSteel(R) spinning progress, a necessary
milestone for product development initiatives in the BioSteel(R) product categories.

A key technical milestone for Nexia`s BioSteel(R) commercialization activities is the development of a commercial
spinning process. This process impacts both BioSteel(R)-M and BioSteel(R)-I business opportunities and Nexia today
reported that its spinning process development is on schedule. The Nexia and Acordis Speciality Fibres joint team
has successfully introduced process improvements that have eliminated significant variability in the fibre making
process. This team continues to drive towards a process which should yield fibre that meets Nexia`s product
development specifications and Nexia expects to deliver a fibre spinning process by spring 2003. Once this is
established, Nexia will begin suture prototype development and expects to submit a regulatory application in the fall
2003. Assuming regulatory approval, Nexia plans to enter the market in the second half of 2004 with its BioSteel(R)
microsutures.

"The collaboration between Nexia and Acordis Speciality Fibres has significantly advanced our spinning process over
the last few months", said Mr. Brad Cilley, Vice President Business Development - Medical Devices of Nexia. "We
are pleased to note that the combined Nexia and Acordis Speciality Fibres team is regularly spinning fiber on a pilot
scale commercial spinning line and is making progress towards our suture fibre specifications."

Regarding its other programs, Nexia is focusing its BioSteel(R) product development efforts on BioSteel(R)-M ahead of
BioSteel(R)-I because these materials are uniquely suited for biomedical applications and have higher margins. As
manufacturing is scaled-up and Nexia is able to achieve lower unit operating costs, it will address higher volume
markets. Concerning Nexia`s new biopharmaceutical, NEX-91, the Company continues to build its program and
expects to disclose the details of this program either when program funding is established or Nexia proves that
NEX-91 is bioactive in a validated animal model.

CONFERENCE CALL AND WEBCAST

Nexia will be holding a conference call regarding this press release on Thursday January 16, 2003 at 4:15pm, and this
call will be broadcast live on the web at www.nexiabiotech.com.

FINANCIAL RESULTS

(all amounts are in Canadian dollars)

For the quarter ended November 30, 2002, Nexia reported, in line with expectations a net loss of $2.6 million ($0.12
per share), and an increase of $405,000 from $2.2 million ($0.10 per share) for the quarter ended November 30, 2001.
The increase was primarily due to planned increases in research and development activities and lower interest
revenues.

LIQUIDITY AND CAPITAL RESOURCES

As at November 30, 2002, Nexia had cash and cash equivalents of $23.9 million. The major uses of funds during the
three-months ended November 30, 2002, included $2.7 million used for operations and $362,000 invested in property,
plant, equipment and intellectual property.

CONSOLIDATED BALANCE SHEETS

As at
November 30, August 31,
2002 2002
$ $
_________________________________________________________________________
(unaudited)
ASSETS
Current
Cash and cash equivalents 16,147,253 3,069,425
Short-term investments 7,793,283 24,048,111
Investment tax credits receivable 835,340 615,000
Receivables 293,065 353,024
Prepaids and other assets 463,644 439,510
_________________________________________________________________________
Total current assets 25,532,585 28,525,070
Property, plant and equipment 6,965,427 6,955,291
Intellectual property 1,193,233 1,143,121
_________________________________________________________________________
33,691,245 36,623,482
_________________________________________________________________________
_________________________________________________________________________


LIABILITIES AND SHAREHOLDERS` EQUITY
Current
Accounts payable and accrued liabilities 746,522 955,252
Current portion of long-term debt and obligations
under capital leases 266,614 294,530
_________________________________________________________________________
Total current liabilities 1,013,136 1,249,782
Long-term debt 299,371 345,633
_________________________________________________________________________
1,312,507 1,595,415
_________________________________________________________________________
Shareholders` equity
Capital stock 64,295,356 64,295,356
Deficit (31,916,618)(29,267,289)
_________________________________________________________________________
Total shareholders` equity 32,378,738 35,028,067
_________________________________________________________________________
33,691,245 36,623,482
_________________________________________________________________________
_________________________________________________________________________



CONSOLIDATED STATEMENTS OF
OPERATIONS AND DEFICITS
(Unaudited)

Three-months ended
November 30,
_________________________
2002 2001
$ $
_________________________________________________________________________
REVENUES
Interest income 156,208 361,755
_________________________________________________________________________

EXPENSES
Research and development, (including
amortization of $257,359 (2001 - $224,997)) 2,100,472 1,852,400
Investment tax credits 220,340 150,000
_________________________________________________________________________
Net research and development 1,880,132 1,702,400
Business development 466,225 407,778
Administrative 399,220 437,891
Amortization 44,017 37,534
Interest on long-term debt 15,943 20,930
_________________________________________________________________________
Total expenses 2,805,537 2,606,533
_________________________________________________________________________
Net loss 2,649,329 2,244,778
_________________________________________________________________________
_________________________________________________________________________
Deficit, beginning of period 29,267,289 18,047,372
Deficit, end of period 31,916,618 20,292,150
_________________________________________________________________________
_________________________________________________________________________
Basic and diluted loss per share 0.12 0.10
_________________________________________________________________________
_________________________________________________________________________
Weighted average number of common shares 23,009,789 22,855,911
_________________________________________________________________________
_________________________________________________________________________



CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Three-months ended
November 30,
________________________
2002 2001
$ $
_________________________________________________________________________

OPERATING ACTIVITIES
Net loss (2,649,329) (2,244,778)
Add items not affecting cash flows:
Amortization of property, plant and equipment 281,312 240,913
Amortization of intellectual property 20,064 21,618
_________________________________________________________________________
(2,347,953) (1,982,247)
Changes in non-cash working capital balances
relating to operations (393,245) (2,025,094)
_________________________________________________________________________
Cash flows relating to operating activities (2,741,198) (4,007,341)
_________________________________________________________________________

INVESTING ACTIVITIES
Acquisition of property, plant and equipment (291,448) (592,329)
Acquisition of intellectual property (70,176) (104,199)
Maturity of short-term investments 19,005,592 12,700,600
Purchase of short-term investments (2,750,764) (69,396)
_________________________________________________________________________
Cash flows relating to investing activities 15,893,204 11,934,676
_________________________________________________________________________

FINANCING ACTIVITIES
Issuance of common shares - 56,310
Repayment of long-term debt and obligations
under capital leases (74,178) (93,969)
_________________________________________________________________________
Cash flows relating to financing activities (74,178) (37,659)
_________________________________________________________________________

Net change in cash and cash equivalents
during the period 13,077,828 7,889,676
_________________________________________________________________________
Cash and cash equivalents, beginning of period 3,069,425 7,652,230
_________________________________________________________________________
Cash and cash equivalents, end of period 16,147,253 15,541,906
_________________________________________________________________________
_________________________________________________________________________

Supplemental cash flow information
Interest paid 15,943 20,930
_________________________________________________________________________


ABOUT NEXIA

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and biopharmaceutical
products with medical and industrial applications. The Company`s lead product under development is BioSteel(R). For
more information, please visit Nexia`s website at www.nexiabiotech.com.

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. Nexia
is developing BioSteel(R) and other products for the medical, industrial,
and military performance fibre markets. There can be no assurance that
such development efforts will succeed, that such products will receive
required regulatory clearance or that such products would ultimately
achieve commercial success.

For further information

Media Contact: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450)
424-8920, jturner@nexiabiotech.com
Investor Relations Contacts: Mark Kaufmann, VP, Corporate Development & Biopharmaceuticals, Nexia
Biotechnologies Inc., (450) 424-8916, mkaufmann@nexiabiotech.com, or Andrea Gilpin, Ph.D.,
Manager, Investor Relations, Nexia Biotechnologies Inc., (450) 424-8918, agilpin@nexiabiotech.com



Source: Nexia Biotechnologies Inc.
Nexia Collaborates with DRDC-Suffield on NEX-91
(Protexia(TM)) as a Bioscavenger to Counter Chemical
Weapons
Monday March 31, 8:01 am ET

MONTREAL, March 31 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced that
it has signed a Memorandum of Understanding with Defence R&D Canada-Suffield (DRDC) in Alberta to
research and test Protexia(TM), formerly NEX-91, a protein designed to protect people against the toxic
effects of nerve agents and other organophosphate (OP) agents.

Protexia(TM) is Nexia`s recombinant version of
butyrylcholinesterase (BChE). BChE is present in
minute quantities in blood; however, its protective
capability is quickly overrun by a nerve agent
challenge. Published animal studies demonstrated
the ability of additional BChE to protect animals from
a lethal dose of nerve agents with no observed side
effects. A recombinant version of BChE, such as
Protexia(TM), is essential since plasma derived
sources would not be sufficient. Using its transgenic
goat technology, Nexia plans to develop bioactive
Protexia(TM) in large quantities, thus making it
practical, for the first time, to protect large numbers
of people from chemical weapons.

DRDC-Suffield is Canada`s national centre for
chemical and biological defence and its mandate is
to develop countermeasures against chemical and
biological weapons. DRDC-Suffield has over sixty years of chemical and biological defence research
experience and has developed nerve agent antidotes, such as HI-6, to treat soldiers against nerve agents.

"DRDC-Suffield is an internationally respected centre that evaluates chemical weapon countermeasures.
Their experience and competence is an integral component in evaluating the effectiveness of Protexia(TM) in
pre- clinical studies," commented Dr. Jeffrey D. Turner, President and CEO of Nexia. "We are pleased to
collaborate with DRDC-Suffield`s seasoned scientists and we believe their expertise will assist us in
advancing the program at an accelerated rate. In times such as these, Nexia believes that advancing
Protexia(TM) to the market place as soon as possible is critical."

"DRDC-Suffield has been involved for many years in developing countermeasures to protect soldiers against
chemical weapons of mass destruction," added Dr. Paul Lundy, Chemical and Biological Defence Section at
DRDC-Suffield. "We believe that Nexia`s Protexia(TM) could be the first true preventative measure to protect
troops against nerve agents and we are pleased to be part of this innovative program."

Nexia has been working on Protexia(TM) since 2001 and during this time has been researching the
production of Protexia(TM) using its proprietary MAC-T cell line and transgenic mice. Nexia has produced
several transgenic goats containing the Protexia(TM) gene, and expressing biologically active protein in their
milk. Nexia is currently producing small quantities of Protexia(TM) to initiate pre-clinical evaluation studies.
Protexia`s(TM) activity will be evaluated, in collaboration with DRDC-Suffield, in relevant "in vitro" and "in vivo"
systems. Nexia expects to have data on the scalability of its transgenic goat genetics by year-end.

Protexia(TM) may be useful for two therapeutic indications: prophylaxis (pre-treatment) and post-exposure
treatment. Prophylaxis involves the pre- treatment of military personnel and civilian first responders who
could be exposed to nerve agents. The post-exposure treatment indication of Protexia(TM) would be a
therapy for casualties on the battlefield or victims of nerve agent attacks. Currently there are no true
prophylactic agents that target nerve agents directly to remove them from circulating in the blood.

How Does BChE Work?

BChE acts like a sponge in the blood to bind nerve agents thereby permanently rendering them harmless.
Nerve agents belong to a class of compounds known as organophosphorous (OP) agents. Their potency
was rapidly recognized, and developed during World War II as nerve gases for chemical weapons. One of
the most recent tragedies involving nerve agents occurred in 1995 when sarin was released in the Tokyo
subway system, injuring thousands and killing 12.

Nerve agents that enter the blood stream via inhalation or absorption through the skin exert their toxic
effects leading to massive convulsions and death in severe cases. BChE binds to the nerve agents and
neutralizes them prior to their reaching the brain and other sensitive sites. Nexia anticipates that
Protexia(TM) will have similar properties of plasma derived BChE.

The time to market for Protexia(TM) could be rapid compared to other biopharmaceuticals. Based on new
regulations communicated in 2002 by the US FDA (Federal Register 67 (105) pg 37988-98, May 31, 2002),
there is now a clearly established regulatory pathway for FDA approval of medical countermeasures to
combat chemical and biologic weapons. Products like Protexia(TM) would likely be required to present
extensive preclinical efficacy studies along with comprehensive human safety data.

Conference Call and Webcast

Nexia will be holding a conference call regarding this program on Monday, March 31, 2003 at 4:10 pm, and
this call will be broadcasted live on the web at www.nexiabiotech.com

About Nexia

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and
biopharmaceutical products with medical and industrial applications. The Company`s lead group of products
under development is BioSteel(R) recombinant spider silk for use in medical and industrial applications.
Protexia(TM) is Nexia`s newest program in our product development pipeline. For more information, please
visit Nexia`s website at www.nexiabiotech.com .

About DRDC-Suffield

DRDC Suffield is the Canadian Centre of expertise in chemical and biological (CB) defence and conducts
world-class research and development in CB defence, to provide the Canadian Forces with advice and
equipment needed to counter the hazard from the use of CB weapons. (www.suffield.drdc-rddc.gc.ca)

Except for the historical information presented herein, matters discussed

herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward-looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors, including risks and uncertainties discussed in Nexia`s
filings with Canadian regulatory authorities. Nexia is developing BioSteel(R),
Protexia(TM), and other products for the medical, industrial and military
performance fiber markets. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial success.

For further information

Media Contact: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc.,
(450) 424-8920, jturner@nexiabiotech.com
Investor Relations Contact: Andréa Gilpin, Ph.D., Director, Corporate Development & Investor
Relations, Nexia Biotechnologies Inc., (450) 424-8918, agilpin@nexiabiotech.com
DRDC-Suffield Contact: Kent Harding, Ph.D., Chief Scientist, (403) 544-4627,
kent.harding@drdc-rddc.gc.ca Note to Editors: photos, b-rolls, and other press kit materials
are available by contacting Chantal Larouche at Nexia at (450) 424-8920 or by e-mail at
clarouche@nexiabiotech.com



Source: Nexia Biotechnologies Inc.
Nexia receives a $3.94 Million Award from the US Army to
develop Protexia(TM) to prevent toxic effects from nerve
agents
Friday April 4, 7:30 am ET

-- PROTEXIA(TM), a bioscavenger, to be produced by Nexia in the milk of transgenic goats --

MONTREAL, April 4 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced that it
was awarded a CND $3.94 million (US $2.67 million) research contract from the US Army Medical Research
Materiel Command (USAMRMC) to develop, Protexia(TM) (formerly NEX-91), a recombinant form of
butyrylcholinesterase (BChE). The contract is sponsored by the US Army Medical Research Institute of
Chemical Defense (USAMRICD) under the Broad Agency Announcement 02-1 (BAA 02-1). BChE is a
natural bioscavenger which may be used to prevent the toxic effects of nerve agents and other
organophosphate (OP) compounds.

Protexia(TM) is Nexia`s recombinant version of
butyrylcholinesterase (BChE). Blood-derived BChE
is currently being developed by the USAMRICD for
use by military personnel to prevent the toxic effects
of nerve agents. BChE is naturally found in small
quantities in the blood; however this source is
inadequate for producing large volumes of BChE.
Furthermore, attempts over the past decade to
produce commercial amounts of BChE in
recombinant systems have failed, making current
supplies extremely limited. Using its transgenic
goat technology, Nexia plans to produce bioactive
Protexia(TM) protein in significant quantities, thus
making it practical for the first time, to use as a drug
to protect large numbers of people.

"Protexia(TM) is an ideal fit for Nexia. It is a
biopharmaceutical protein where transgenics may
provide a significant supply advantage, it fits with our other military initiatives, and its development will likely
be rapid and significantly accretive to shareholder value," commented Jeffrey D. Turner, Ph.D., President
and CEO of Nexia. "Our partnership with USAMRICD will allow Nexia to learn from USAMRICD`s experience
and knowledge in the area of medical countermeasures and will guide us through both the research and
development aspects of the Protexia(TM) program."

With the BAA contract administer by USMARICD and the recently executed Memo of Understanding with
DRDC-Suffield, Nexia is now working jointly with the two leading organizations in nerve agent
countermeasures. Nexia has evaluated the production of Protexia(TM) in transgenic mice and is currently
producing small quantities of Protexia(TM) in the milk of its transgenic goats. Nexia anticipates having data
on the scalability of its transgenic goat genetics by year-end.

Based on new regulations published by the US FDA "Animal Efficacy Rule" (Federal Register 67 (105) pg
37988-98, May 31, 2002), there is now an established regulatory pathway for FDA review for medical
countermeasures for chemical and biological defence. Products, like Protexia(TM), would likely be required
to present extensive preclinical studies of efficacy along with comprehensive human safety data.

Based on discussions with both USAMRICD and DRDC-Suffield Nexia believes that Protexia(TM), if and
when licenced by regulatory authorities, may be used for prophylaxis and treatment in military markets.
Additionally, Protexia(TM) may be of interest to local law enforcement and first responder personnel.
Prophylaxis involves the pre-treatment of military personnel and civilian first responders who could be
exposed to nerve agents. The treatment indication of Protexia(TM) would be a therapy for casualties on the
battlefield or victims of nerve agent attacks.

Regarding the Protexia(TM) program, Nexia recently announced collaboration with DRDC-Suffield on March
31, 2003. More information concerning a general description BChE and the Protexia(TM) program can be
obtained at www.nexiabiotech.com .

Conference Call and Webcast

Nexia will be holding a conference call regarding this announcement on Friday, April 4, 2003 at 14:00, and
this call will be broadcast live on the web at www.nexiabiotech.com .

About USAMRICD

USAMRICD develops medical countermeasures to chemical warfare agents and trains medical personnel in
the medical management of chemical casualties and is a recognized leader in this field. Please refer to
USAMRICD`s web site at: http://chemdef.apgea.army.mil/ .

About Nexia

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and
biopharmaceutical products with medical and industrial applications. The Company`s lead group of products
under development is BioSteel(R) recombinant spider silk for use in medical and industrial applications.
Protexia(TM) is Nexia`s newest program in our product development pipeline. For more information, please
visit Nexia`s website at www.nexiabiotech.com .

Except for the historical information, matters discussed herein may

constitute forward-looking statements that are subject to certain risks and
uncertainties that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by such
statements. Statements that are not historical facts, including statements
preceded by, followed by, or that include the words "believes"; "anticipates";
"intends"; "plans"; "expects"; "estimates"; or similar statements are forward-
looking statements. Such statements reflect management`s current views and are
based on certain assumptions. Actual results could differ materially from
those currently anticipated as a result of a number of factors, including
risks and uncertainties discussed in Nexia`s filings with Canadian regulatory
authorities. An additional business risk associated with the Protexia(TM)
program relates to the fact that large purchases are expected to be made from
a few customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development efforts
will succeed, that such products will receive required regulatory clearance or
that, such products would ultimately achieve commercial success.

For further information

Media Contact: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc.,
450-424-8920, jturner@nexiabiotech.com
USAMRICD Contact: David Lenz, Ph.D., Research Chemist, (410) 436-3525,
David.Lenz@apg.amedd.army.mil
Investor Relations Contact: Andrea Gilpin, Ph.D., Director, Corporate Development & Investor,
Relations, Nexia Biotechnologies Inc., 450-424-8918, agilpin@nexiabiotech.com
Note to Editors: photos, b-rolls, and other press kit materials are available by contacting
Chantal Larouche at Nexia at (450) 424-8920 or by email clarouche@nexiabiotech.com



Source: Nexia Biotechnologies Inc.
Nexia Reports Second Quarter 2003 Results and Provides
Programs Update
Thursday April 17, 8:00 am ET

MONTREAL, April 17 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced its financial
results for the second quarter of fiscal year 2003, ended February 28, 2003 and reported a net loss of $2.9 million,
which was in line with its expectations. Nexia also today announced a delay in spinning process development, a grant
received for BioSteel(R) development costs, and the signing of a Cooperative Research and Development Agreement
(CRADA) with the US Army for the Protexia(TM) Program. The CRADA accompanies a contract in the sum of $3.94
million from the US Army and a Memorandum of Understanding with the Canadian Army.

A key technical milestone for Nexia`s BioSteel(R)
commercialization activities is the development of a
commercial spinning process. Although Nexia and its fibre
development collaborator, Acordis Speciality Fibres, have
made significant progress over the past quarter, the strength
specifications are yet to be achieved. Critical parameters for
fibre development include consistency, elongation, diameter,
and strength, of which three of four parameters have met the
specifications. Towards improving strength, Nexia has been
evaluating other spider silk proteins. With early experiments
using one of these new spider silk proteins and the spinning
experience that Nexia has gained, it is confident that the
Company will achieve the required fibre properties by the third
quarter 2003, and be in a position to file a market application
with the FDA in 2005.

Nexia received a $500,000 Defence Industry Research (DIR)
grant from the Canadian Department of Defense towards
developing the next generation fibre to be incorporated into personal protection systems. The DIR is specifically
designed to offset the costs related to spinning and performance testing of BioSteel(R) fibre for military applications.

Nexia unveiled its new biopharmaceutical program, Protexia(TM), formerly known as NEX-91, by disclosing two
collaborations: the first was a $3.94 million contract from the US Army Medical Research Materiel Command,
sponsored by the US Army Medical Research Institute of Chemical Defense (ICD). Second, was a Memorandum of
Understanding with Defence R&D Canada-Suffield, in Alberta. In addition, Nexia today announced the signing of a
Cooperative Research and Development Agreement (CRADA) with the US Army for the Protexia(TM) program. All
three of these agreements will allow the Protexia(TM) protein to be evaluated in both in vitro and in vivo systems for
efficacy of the protein in binding nerve agents and conferring protection against a broad spectrum of nerve agents.
Protexia(TM) is being developed for use as a pre-treatment for military personnel to counter the toxic effects of nerve
agents. Protexia(TM) is a recombinant form of butyrylcholinesterase (BChE), which is expected to be manufactured in
commercial quantities in the milk of Nexia`s transgenic goats. For more information regarding this new program please
refer to Nexia`s website.

As a result of Nexia`s increased emphasis on the Protexia(TM) program, the Company has decided to conserve
resources and discontinue its tPA program. All costs relating to the tPA program have been expensed as incurred
and the discontinuance of this program will have no impact on the Company`s current financial position or results of
operations.

Conference Call and Webcast

Nexia will be holding a conference call regarding this press release on Thursday, April 17, 2003 at 4:10pm, and this
call will be broadcast live on the web at www.nexiabiotech.com.

Financial Results (all amounts are in Canadian dollars)

For the quarter ended February 28, 2003, Nexia reported, in line with expectations a net loss of $2.90 million ($0.13
per share), a decrease of $220,000 from $3.12 million ($0.14 per share) for the quarter ended February 28, 2002. The
decrease was primarily due to decreases in Research and Development spending, and lower business development
and administrative expenses.

LIQUIDITY AND CAPITAL RESOURCES

As at February 28, 2003, Nexia had cash and cash equivalents of $20.7 million. The major uses of funds during the
six-months ended February 28, 2003, included $5.47 million used for operations and $821,000 invested in property,
plant, equipment and intellectual property.

Under Nexia`s current operating plan, management believes that the Company`s current cash, cash equivalents,
short-term investments and other current assets should be sufficient to finance its operations and capital needs
through fiscal 2004. However, in light of the inherent uncertainties associated with R&D programs, scale-up and
commercialization of products, ability to enter into collaborative R&D agreements, the results of clinical testing,
receipt of regulatory approval of certain products and ability to secure licensing agreements, it may become
necessary for the Company to either (i) raise additional funds for the continuing development and marketing of its
products, or (ii) delay or scale-back its development programs.

FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS
As at

February 28, August 31,
2003 2002
$ $
_________________________________________________________________________
(unaudited)
ASSETS
Current
Cash and cash equivalents 20,717,639 3,069,425
Short-term investments - 24,048,111
Investment tax credits receivable 1,057,440 615,000
Receivables 135,389 353,024
Prepaids and other assets 649,257 439,510
_________________________________________________________________________
Total current assets 22,559,725 28,525,070
Property, plant and equipment 6,914,735 6,955,291
Intellectual property 1,379,680 1,143,121
_________________________________________________________________________
30,854,140 36,623,482
_________________________________________________________________________
_________________________________________________________________________

LIABILITIES AND SHAREHOLDERS` EQUITY
Current
Accounts payable and accrued liabilities 838,590 955,252
Current portion of long-term debt 238,195 294,530
_________________________________________________________________________
Total current liabilities 1,076,785 1,249,782
Long-term debt 252,126 345,633
_________________________________________________________________________
1,328,911 1,595,415
_________________________________________________________________________

Shareholders` equity
Capital stock 64,341,089 64,295,356
Deficit (34,815,860) (29,267,289)
_________________________________________________________________________
Total shareholders` equity 29,525,229 35,028,067
_________________________________________________________________________
30,854,140 36,623,482
_________________________________________________________________________
_________________________________________________________________________


CONSOLIDATED STATEMENTS OF
OPERATIONS AND DEFICITS
(Unaudited)

Three-months ended Six-months ended
February 28, February 28,
__________________________ __________________________
2003 2002 2003 2002
$ $ $ $
_________________________________________________________________________
REVENUES
Interest income 157,950 215,701 314,158 577,456
_________________________________________________________________________
EXPENSES
Research and
development 1,876,013 2,040,292 3,719,126 3,732,339
Amortization 279,883 247,640 537,861 473,211
_________________________________________________________________________
Total research and
development 2,155,896 2,287,932 4,256,987 4,205,550
Investment tax
credits (222,100) (184,426) (442,440) (334,426)
_________________________________________________________________________
Net research and
development 1,933,796 2,103,506 3,814,547 3,871,124
Business development 575,304 658,881 1,041,529 1,066,659
Administrative 489,595 512,565 888,815 885,812
Amortization 44,140 39,556 87,538 76,516
Interest on long-term
debt 14,357 20,931 30,300 41,861
_________________________________________________________________________
Total expenses 3,057,192 3,335,439 5,862,729 5,941,972
_________________________________________________________________________
Net Loss 2,899,242 3,119,738 5,548,571 5,364,516
_________________________________________________________________________
Deficit, beginning
of period 31,916,618 20,292,150 29,267,289 18,047,372
Deficit, end of
period 34,815,860 23,411,888 34,815,860 23,411,888
_________________________________________________________________________
Basic and diluted
loss per share 0.13 0.14 0.24 0.23
_________________________________________________________________________
Weighted average
number of common
shares 23,027,078 22,945,306 23,018,434 22,900,609
_________________________________________________________________________



CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Three-months ended Six-months ended
February 28, February 28,
2003 2002 2003 2002
__________________________ __________________________
$ $ $ $
_________________________________________________________________________
OPERATING ACTIVITIES
Net loss (2,899,242) (3,119,738) (5,548,571) (5,364,516)
Add items not
affecting cash
flows:
Amortization of
property, plant
and equipment 303,179 264,004 584,491 504,918
Amortization of
intellectual
property 20,844 23,192 40,908 44,809
_________________________________________________________________________
(2,575,219) (2,832,542) (4,923,172) (4,814,789)
Changes in non-cash
working capital
balances relating to
operations (157,969) 476,823 (551,214) (1,548,271)
_________________________________________________________________________
Cash flows relating
to operating
activities (2,733,188) (2,355,719) (5,474,386) (6,363,060)
_________________________________________________________________________
INVESTING ACTIVITIES
Acquisition of pro-
perty, plant and
equipment (252,487) (420,201) (543,935) (1,012,530)
Acquisition of
intellectual
property (207,291) (164,037) (277,467) (268,236)
Maturity of short-
term investments - (86,365) (2,750,764) (155,761)
Purchase of short-
term investments 7,793,283 20,313,903 26,798,875 33,014,503
_________________________________________________________________________
Cash flows relating
to investing
activities 7,333,505 19,643,300 23,226,709 31,577,976
_________________________________________________________________________
FINANCING ACTIVITIES
Issuance of common
shares 45,733 138,935 45,733 195,245
Repayment of long-
term debt and
obligations under
capital leases (75,664) (108,264) (149,842) (202,233)
_________________________________________________________________________
Cash flows relating
to financing
activities (29,931) 30,671 (104,109) (6,988)
_________________________________________________________________________
Net change in cash
and cash equivalents
during the period 4,570,386 17,318,252 17,648,214 25,207,928
Cash and cash equi-
valents, beginning of
the period 16,147,253 15,541,906 3,069,425 7,652,230
_________________________________________________________________________
Cash and cash equi-
valents, end of the
period 20,717,639 32,860,158 20,717,639 32,860,158
_________________________________________________________________________
_________________________________________________________________________
Supplemental cash
flow information
Interest paid 14,357 20,931 30,300 41,861
_________________________________________________________________________



About Nexia

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and biopharmaceutical
products with medical and industrial applications. The Company`s lead group of products under development is
BioSteel(R) recombinant spider silk for use in medical and industrial applications. Protexia(TM) is Nexia`s newest
program in our product development pipeline. For more information, please visit Nexia`s website at
www.nexiabiotech.com.

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect this program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.

For further information

Media Contact: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450)
424-8920, jturner@nexiabiotech.com
Investor Relations Contact: Andrea Gilpin, Ph.D., Director, Corporate Development & Investor Relations,
Nexia Biotechnologies Inc., (450) 424-8918, agilpin@nexiabiotech.com
Note to Editors: photos, b-rolls, and other press kit materials are available by contacting Chantal
Larouche at Nexia at (450) 424-8920 or by email clarouche@nexiabiotech.com



Source: Nexia Biotechnologies Inc.
Nexia Initiates a Cost-Reduction Program
Tuesday May 6, 9:00 am ET

MONTREAL, May 6 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced that it is implementing a cost reduction program to preserve financial resources as a result of the recent delays in the development of a commercial spinning process for BioSteel(R). The implementation of this program involves the reduction in: the number of employees by approximately 30%, farm operations, early R&D programs, and administrative and other non- essential expenses.

Upon completion of the restructuring program, Nexia expects that its monthly net cash outflow will be reduced from $1 million to approximately $600,000 thereby extending its financial resources until October 2005. All core activities associated with our BioSteel(R) spinning development program and our Protexia(TM) program will remain intact.

"The changes that we announced today were difficult in light of the dedication and commitment of many of the affected people in building Nexia to what it is today. However, such changes are necessary to secure the substantial potential represented by our BioSteel(R) and Protexia(TM) programs. In the face of unexpected technical delays, management believes that the most conservative approach is to ensure that sufficient financial and technical resources are available to achieve our mission-critical milestones. We are absolutely committed to the success of these programs," commented Dr. Jeffrey D. Turner, President and CEO of Nexia.

Nexia will concentrate its efforts on developing a commercial spinning process for BioSteel(R) and advancing the Protexia(TM) program as rapidly as possible. Although the delay in the development of a spinning process has impacted its BioSteel(R) program, the Company is confident that the required fibre properties will be achieved. Regarding the Protexia(TM) program, the Company has recently achieved several key milestones. These milestones included obtaining funding from the US Army, Agreements with both the Canadian and US Armies to evaluate Protexia(TM) in both in vitro and in vivo systems, and the expression of biologically active protein in the milk of several transgenic goats. The funding obtained from the US Army amounting to $3.94 million and is dedicated towards studies to support moving the program into development.

"Nexia`s Management Team closely monitors expenditures and when unanticipated technical challenges arose they worked with their experienced Board of Directors to make the appropriate adjustment to the Operating Plan. The Board of Directors is confident that this restructuring program is prudent and necessary to build value for our shareholders," noted Mr. William C. Garriock, Chair of Nexia`s Board of Directors.

About Nexia

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and biopharmaceutical products with medical and industrial applications. The Company`s lead group of products under development is BioSteel(R) recombinant spider silk for use in medical and industrial applications. Protexia(TM) is Nexia`s newest program in our product development pipeline. For more information, please visit Nexia`s website at www.nexiabiotech.com .

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect this program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.

For further information
Media Contact : Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920, jturner@nexiabiotech.com
Investor Relations Contact : Andrea Gilpin, Ph.D., Director, Corporate Development & Investor Relations,Nexia Biotechnologies Inc., (450) 424-8918, agilpin@nexiabiotech.com


Source: Nexia Biotechnologies Inc.
Hatte gestern an meinem Geburtstag (05.05) ein paar davon gekauft, der Umsatz in Toronto war sehr hoch (über 70`000). leider scheint diese Nachricht den Kurs nicht zu beflügeln. Im Gegenteil... naja... ich bin long drin. wenn nix draus wird hab ich ned viel verloren (2K)
sehr spekulativ...
Wow! Volumen schon jetzt über 70K! Heut werden locker über 100k über den Tisch gehen... (durchschnitt: 30k)
UPDATE - Nexia`s spider silk will need clinical tests
Wednesday June 18, 4:25 pm ET

(New throughout)

TORONTO, June 18 (Reuters) - The U.S. Food and Drug Administration (News - Websites) has decided that Nexia Biotechnologies`s (Toronto:NXB.TO - News) spider-silk sutures must undergo clinical trials before being approved, the company said on Wednesday, which may delay commercialization of its lead product.

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Nexia chief executive Jeffrey Turner said he did not know how long it would take to bring the sutures to market or what the cost of clinical trials would be. But he said the FDA`s decision was not a setback for Nexia, which has enough cash to cover operations until November 2005.

Last month the Montreal-based company said it would lay off about 30 of its about 100 employees as it tried to cut costs by about 40 percent to C$600,000 a month.

Nexia stock fell 4 percent on the Toronto Stock Exchange (News - Websites) on Wednesday as more than 106,000 shares changed hands. Over the previous 10 days average daily trading volume had been about 72,000 shares.

The company had hoped the FDA would give the sutures the green light without clinical tests under a fast-track program that approves, without testing, new products that are similar to existing devices.

Nexia said on Wednesday the FDA had told the company that its silk sutures, which are threads used to stitch wounds, and the way they are made "raised questions" that had not been previously considered for such material.

Nexia`s spider silk, called BioSteel, is made from milk from goats that have a spider-silk gene. The manufacturing process isolates the spider silk proteins from the milk and spins them into a fine fiber stronger than steel.

The company said the FDA will require Nexia to test its BioSteel sutures to close wounds before approving them.

"This is not like falling off a cliff or something like that," Turner said in an interview about the FDA`s decision. "We are at a point where we have additional clarity but not total clarity (from the FDA)."

Nexia`s shares closed down 4 Canadian cents at 96 Canadian cents in Toronto. They have fallen 45 percent this year.

($1=$1.34 Canadian)
Nexia Reports Third Quarter 2003 Results and Provides Program Update
Thursday July 17, 8:00 am ET

MONTREAL, July 17 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) today announced its financial results for the third quarter of fiscal year 2003, ended May 31, 2003 and reported a net loss of $2.57 million, which was in line with its expectations. For this fiscal quarter, Nexia announced Protexia(TM) research contract revenues from the US Army in the amount of $533,000 and BioSteel(R) government funding from the Canadian Department of National Defence in the amount of $48,000. Nexia also today announced BioSteel(R) and Protexia(TM) program updates.

Nexia is developing a recombinant version of human butyrylcholinesterase (Protexia(TM)), a bioscavenger which can be used as a medical countermeasure for nerve agents. Nexia continues to work with both the US Army Institute of Chemical Defense and Defence R&D Canada-Suffield to test Protexia(TM) in both in vitro and in vivo model systems. Three key milestones are targeted over the next 12 months:

- First, to demonstrate in vitro binding and neutralization by
Protexia(TM) of a variety of nerve agents, such as VX and tabun.
- Second, early pre-clinical tests will include pharmacokinetic studies,
to determine the duration of Protexia(TM) in the circulation of an
animal model.
- Third, Nexia is planning in vivo challenge studies to demonstrate that
Protexia(TM) is efficacious as a protective agent.


The data generated from these experiments are important for the decision to transition into a development program.

Regarding the BioSteel(R) program, fibre development activity in conjunction with Nexia`s partner, Acordis Speciality Fibres Ltd., is ongoing with a target of achieving the required strength properties by the fall of 2003. Concerning BioSteel(R) suture development, Nexia is continuing to evaluate the nature and scope of clinical data which will be required to support a Pre-Market Approval (PMA) filing with the US Food and Drug Administration. Nexia`s ongoing BioSteel(R) activities include a number of applications-specific material evaluations that may result in partnered development programs.

Conference Call and Webcast

Nexia will be holding a conference call regarding this press release on Thursday July 17, 2003 at 16:10, and this call will be broadcast live on the web at www.nexiabiotech.com .

Financial Results (all amounts are in Canadian dollars)

For the quarter ended May 31, 2003, Nexia reported, in line with expectations a net loss of $2.57 million ($0.11 per share), a decrease of $54,000 from $2.62 million ($0.11 per share) for the quarter ended May 31, 2002. The new contract revenues from the US Army of $533,000 and decreases across all spending categories were offset by non-recurring restructuring charges of $627,000 and reduced investment tax credits and interest of $112,000.

Liquidity and Capital Resources

Nexia had cash and cash equivalents of $18.8 million at May 31, 2003. The major uses of funds during the nine-months ended May 31, 2003, included $7.13 million used for operations and $991,000 invested in property, plant, equipment and intellectual property.

_________________________________________________________________________
CONSOLIDATED
BALANCE SHEETS

As at May 31, August 31,
2003 2002
$ $
_________________________________________________________________________
(unaudited)
ASSETS

Current
Cash and cash equivalents 7,627,249 3,069,425
Short-term investments 11,207,058 24,048,111
Investment tax credits receivable 659,940 615,000
Receivables 398,846 353,024
Prepaids and other assets 470,702 439,510
_________________________________________________________________________

Total current assets 20,363,795 28,525,070
Property, plant and equipment 6,572,608 6,955,291
Intellectual property 1,439,924 1,143,121
_________________________________________________________________________
28,376,327 36,623,482
_________________________________________________________________________

LIABILITIES AND SHAREHOLDERS`
EQUITY

Current
Accounts payable and accrued liabilities 987,370 955,252
Current portion of long-term debt 209,275 294,530
_________________________________________________________________________

Total current liabilities 1,196,645 1,249,782
Long-term debt 203,868 345,633
_________________________________________________________________________
1,400,513 1,595,415
_________________________________________________________________________

Shareholders` equity
Capital stock 64,362,110 64,295,356
Deficit (37,386,296) (29,267,289)
_________________________________________________________________________

Total shareholders` equity 26,975,814 35,028,067
_________________________________________________________________________
28,376,327 36,623,482
_________________________________________________________________________
_________________________________________________________________________


CONSOLIDATED STATEMENTS
OF OPERATIONS AND DEFICITS
(Unaudited)

Three-months ended Nine-months ended
May 31, May 31,
2003 2002 2003 2002
$ $ $ $
_________________________________________________________________________

REVENUES
Contract revenues 533,000 - 533,000 -
Interest income 133,989 163,023 448,147 740,479
_________________________________________________________________________
Total revenues 666,989 163,023 981,147 740,479

EXPENSES
Research and development 1,792,612 1,958,074 5,542,883 5,690,413
Amortization 283,872 265,504 821,733 738,715
_________________________________________________________________________
Total research and
development 2,076,484 2,223,578 6,364,616 6,429,128

Investment tax credits and
other government assistance (374,700) (457,624) (817,140) (792,050)
_________________________________________________________________________
Net research and development 1,701,784 1,765,954 5,547,476 5,637,078
Business development 413,417 457,967 1,423,801 1,524,626
Administrative 437,259 499,023 1,326,074 1,384,835
Amortization 44,896 42,278 132,434 118,794
Interest on long-term debt 12,788 22,614 43,088 64,475
Restructuring costs 627,281 - 627,281 -
_________________________________________________________________________
Total expenses 3,237,425 2,787,836 9,100,154 8,729,808
_________________________________________________________________________
Net Loss 2,570,436 2,624,813 8,119,007 7,989,329
_________________________________________________________________________
_________________________________________________________________________
Deficit, beginning of period 34,815,860 23,411,888 29,267,289 18,047,372
Deficit, end of period 37,386,296 26,036,701 37,386,296 26,036,701
_________________________________________________________________________
_________________________________________________________________________

Basic and diluted loss per
share 0.11 0.11 0.35 0.35
_________________________________________________________________________
Weighted average number of
common shares 23,095,679 22,990,053 23,044,182 22,930,432
_________________________________________________________________________
_________________________________________________________________________


CONSOLIDATED STATEMENTS
OF CASH FLOWS
(Unaudited)

Three-months ended Nine-months ended
May 31, May 31,
2003 2002 2003 2002
$ $ $ $
_________________________________________________________________________

OPERATING ACTIVITIES
Net loss (2,570,436) (2,624,813) (8,119,007) (7,989,329)
Add items not affecting
cash flows:
Amortization of
property, plant and
equipment 306,086 284,197 890,577 789,115
Amortization of
intellectual property 22,682 23,585 63,590 68,394
Non-cash restructuring
charge 122,940 - 122,940 -
_________________________________________________________________________
(2,118,728) (2,317,031) (7,041,900) (7,131,820)
Changes in non-cash
working capital balances
relating to operations 461,378 705,487 (89,836) (842,784)
_________________________________________________________________________
Cash flows relating to
operating activities (1,657,350) (1,611,544) (7,131,736) (7,974,604)
_________________________________________________________________________

INVESTING ACTIVITIES
Acquisition of property,
plant and equipment (86,896) (490,072) (630,831) (1,502,601)
Acquisition of
intellectual property (82,929) (88,917) (360,396) (357,154)
Maturity of short-term
investments - - 26,798,875 33,014,503
Purchase of short-term
investments (11,207,058)(17,338,519) (13,957,822)(17,494,280)
_________________________________________________________________________
Cash flows relating to
investing activities (11,376,883)(17,917,508) 11,849,826 13,660,468
_________________________________________________________________________

FINANCING ACTIVITIES
Issuance of common shares 21,021 29,773 66,754 225,018
Repayment of long-term debt
and obligations under
capital leases (77,178) (72,851) (227,020) (275,084)
_________________________________________________________________________
Cash flows relating to
financing activities (56,157) (43,078) (160,266) (50,066)
_________________________________________________________________________

Net change in cash and
cash equivalents
during the period (13,090,390)(19,572,130) 4,557,824 5,635,798
_________________________________________________________________________
Cash and cash
equivalents,
beginning
of the period 20,717,639 32,860,158 3,069,425 7,652,230
_________________________________________________________________________
Cash and cash equivalents,
end of the period 7,627,249 13,288,028 7,627,249 13,288,028
_________________________________________________________________________
_________________________________________________________________________

Supplemental cash flow
information
Interest paid 12,788 22,614 43,088 64,475
_________________________________________________________________________


About Nexia

Nexia develops and manufactures complex recombinant proteins for use as biomaterials and biopharmaceutical products with medical and industrial applications. The Company`s lead group of products under development is BioSteel(R) recombinant spider silk for use in medical and industrial applications. Protexia(TM) is Nexia`s newest program in our product development pipeline. For more information, please visit Nexia`s website at www.nexiabiotech.com.

Except for the historical information presented herein, matters discussed

herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward-looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors, including risks and uncertainties discussed in Nexia`s
filings with Canadian regulatory authorities. An additional business risk
associated with the Protexia(TM) program relates to the fact that large
purchases are expected to be made from a few customers. Changes in demand from
these customers could significantly affect our program. There can be no
assurance that such development efforts will succeed, that such products will
receive required regulatory clearance or that, such products would ultimately
achieve commercial success.

For further information
Media Contact: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920, jturner@nexiabiotech.com
Investor Relations Contact: Andrea Gilpin, Ph.D., Director, Corporate Development & Investor Relations, Nexia Biotechnologies Inc., (450) 424-8918, agilpin@nexiabiotech.com


Source: Nexia Biotechnologies Inc.
Nexia Announces 2003 Year-End Financial Results and Provides a Corporate Update
Wednesday October 29, 7:30 am ET


MONTREAL, Oct. 29 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) today announced its audited financial results for the fiscal year ended August 31, 2003 and reported revenues of $1.3 million and a net loss of $10.98 million. Nexia also provided updates to its Protexia(TM) and BioSteel(R) Programs.

Nexia`s 2003 Highlights:

PROTEXIA(TM)

- Announced its new biopharmaceutical program, Protexia(TM), a
protein initially being developed to counter the toxic effects of
nerve agents.
- Purified small amounts of Protexia(TM) from the milk of a few
transgenic goats (induced lactation).
- Was awarded a US$2.67 million research contract from the U.S. Army
to support the feasibility of producing Protexia(TM) in transgenic
animals.
- Signed a Cooperative Research and Development Agreement (CRADA)
with the U.S. Army to conduct proof-of-concept studies with
Protexia(TM).
- Signed a Memorandum of Understanding with the Canadian Department
of National Defence to support in vivo studies of Protexia(TM).


BIOSTEEL(R)

- Was awarded a $500,000 Defence Industry Research (DIR) grant from
the Canadian Department of National Defence.
- Experienced delays and technological challenges but continued to à
work towards developing BioSteel(R) for both fibre and
non-fibre applications, such as use in composites. Nexia will
continue to work towards developing a commercializable fibre.
- Received clarification from the U.S. Food and Drug Administration
that BioSteel(R) sutures will require clinical data to obtain
licensure for marketing.
- The Company will concentrate its farm operations at the
St. Telesphore facilities.

CORPORATE

- Reported grant and contract revenues of $929,000.
- Effected a cost-reduction program to extend its financial
resources.
- Discontinued its Tissue Plasminogen Activator (tPA) program.

Protexia(TM) Program Update


Nexia is developing a recombinant version of human butyrylcholinesterase (Protexia(TM)), a bioscavenger which can be used as a medical countermeasure for nerve agents. Nexia continues to collaborate with both the U.S. Army Institute of Chemical Defense and Defence R&D Canada-Suffield to test Protexia(TM) in both in vitro and in vivo model systems. Three key milestones are targeted within the next 12 months:

- First, to demonstrate in vitro binding and neutralization by
Protexia(TM) of a variety of nerve agents, such as VX and tabun.
Disclosure by the U.S. Army of the results of these experiments is
expected at the Joint Service Scientific Conference on Chemical &
Biological Defense in Towson, MD, on November 20, 2003.
- Second, conduct early pre-clinical tests, including pharmacokinetic
studies, to determine residence time of Protexia(TM) in the circulation
of an animal model.
- Third, perform in vivo challenge studies to demonstrate that
Protexia(TM) is efficacious as a protective agent in animal models.


The data generated from these experiments are important for the decision to transition into a development program and attract new government development funding.
BioSteel(R) Program Update

Regarding the BioSteel(R) program, fibre development activity in conjunction with Nexia`s partner, Acordis Speciality Fibres Ltd., is ongoing with a target of achieving the required strength properties in 2004. Concerning BioSteel(R) suture development, Nexia is continuing to evaluate the nature and scope of clinical data which will be required to support a Pre-Market Approval (PMA) filing with the U.S. Food and Drug Administration. Nexia`s ongoing BioSteel(R) activities include a number of applications- specific material evaluations that may result in partnered development programs.

In addition, the technological challenges experienced with the BioSteel(R) program and delays have resulted in a number of changes in the program direction with respect to the capacity requirements for transgenic production of BioSteel(R). The Company will concentrate its farm operations at the St. Telesphore facilities and as a result, the Company has recorded a write-down of $829,000. The Company has decided today to close its facility in Plattsburgh and expects to record a charge of $120,000 in the first quarter of 2004.

Financial review

The net loss for fiscal year 2003 decreased by $0.24 million to $10.98 million from $11.22 million for fiscal year 2002. The decease in the overall loss was a result of reductions in expenditures across all broad spending categories, including R&D, Business Development and Administrative expenses, of approximately $910,000, increases in total revenues of $368,000, due to the start of the research contract with the U.S. Army to develop Protexia(TM) and increases in investment tax credits and other government assistance of $189,000. The overall reductions in spending were offset by the costs of restructuring implemented in May 2003 of $627,000, a write-down of property, plant and equipment of $829,000 and a write-down of intellectual property of $19,000.

Liquidity and capital resources

Nexia had cash, cash equivalents and short-term investments of $16.97 million at August 31, 2003 a decrease of $10.15 million from $27.12 million as at August 31, 2002. In addition, Nexia had $760,000 of investment tax credits receivable and $1.05 million of other current assets. The major uses of funds during 2003 included $8.82 million used for operations and $1.07 million invested in plant, equipment and intellectual property, compared to $10.77 million and $2.61 million respectively during 2002. Under Nexia`s current operating plan, management believes that the Company`s current cash, cash equivalents, short-term investments and other current assets should be sufficient to finance its operations and capital needs for at least 20 months.



CONSOLIDATED BALANCE SHEETS
As at August 31 (audited)
2003 2002
$ $
-------------------------------------------------------------------------

ASSETS
Current
Cash and cash equivalents 552,383 3,069,425
Short-term investments 16,415,440 24,048,111
Investment tax credits receivable 760,000 615,000
Receivables 649,450 353,024
Prepaids and other assets 400,930 439,510
-------------------------------------------------------------------------
Total current assets 18,778,203 28,525,070
Property, plant and equipment 5,464,259 6,955,291
Intellectual property 1,434,190 1,143,121
-------------------------------------------------------------------------
25,676,652 36,623,482
-------------------------------------------------------------------------
-------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS` EQUITY
Current
Accounts payable and accrued liabilities 879,199 955,252
Deferred revenues 341,000 -
Current portion of long-term 191,142 294,530
-------------------------------------------------------------------------
Total current liabilities 1,411,341 1,249,782
Long-term debt 154,490 345,633
-------------------------------------------------------------------------
1,565,831 1,595,415
-------------------------------------------------------------------------

Shareholders` equity
Capital stock 64,150,110 64,295,356
Contributed surplus 212,000 -
Deficit (40,251,289) (29,267,289)
-------------------------------------------------------------------------
Total shareholders` equity 24,110,821 35,028,067
-------------------------------------------------------------------------
25,676,652 36,623,482
-------------------------------------------------------------------------
-------------------------------------------------------------------------


CONSOLIDATED STATEMENTS OF OPERATIONS
AND DEFICIT

Years ended August 31 (audited)

2003 2002
$ $
-------------------------------------------------------------------------
REVENUES
Contract revenues 712,000 -
Interest income 583,029 926,983
-------------------------------------------------------------------------
1,295,029 926,983
-------------------------------------------------------------------------

EXPENSES
Research and development 7,121,506 7,570,300
Amortization of property, plant
and equipment and Intangible assets 1,121,468 1,015,584
-------------------------------------------------------------------------
Total research and development 8,242,974 8,585,884
Investment tax credits and other
government assistance (1,085,972) (896,764)
-------------------------------------------------------------------------
Net research and development 7,157,002 7,689,120
Business development 1,734,876 1,950,689
Administrative 1,598,299 1,939,741
Amortization of property, plant
and equipment 179,346 163,526
Foreign exchange loss (gain) 82,833 (12,882)
Interest on long-term debt 51,732 86,706
Restructuring costs 627,281 -
Write-down of property, plant and equipment 828,557 -
Write-down of intellectual property 19,103 330,000
-------------------------------------------------------------------------
Total expenses 12,279,029 12,146,900
-------------------------------------------------------------------------
Net loss for the year 10,984,000 11,219,917
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Deficit, beginning of year 29,267,289 18,047,372
-------------------------------------------------------------------------
Deficit, end of year 40,251,289 29,267,289
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Basic and diluted loss per share 0.48 0.49
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Weighted average number of shares
outstanding during the year 23,059,015 22,949,808
-------------------------------------------------------------------------
-------------------------------------------------------------------------


CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended August 31 (audited)
2003 2002
$ $
-------------------------------------------------------------------------

OPERATING ACTIVITIES
Net loss for the year (10,984,000) (11,219,917)
Add items not affecting cash:
Amortization of property, plant
and equipment 1,212,278 1,085,982
Amortization of intellectual property 88,536 93,128
Non-cash restructuring charges 122,941 -
Foreign exchange (gain)/loss 33,155 312
Write-down of property, plant and
equipment 828,557 -
Write-down of intellectual property 19,103 330,000
-------------------------------------------------------------------------
(8,679,430) (9,710,495)
Changes in non-cash working capital
balances relating to operations (137,899) (1,056,321)
-------------------------------------------------------------------------
Cash flows relating to operating
activities (8,817,329) (10,766,816)
-------------------------------------------------------------------------

INVESTING ACTIVITIES
Acquisition of property, plant
and equipment (672,744) (2,308,065)
Additions to intellectual property (398,708) (302,837)
Purchase of short-term investments (19,166,204) (24,203,872)
Maturity of short-term investments 26,798,875 33,109,719
-------------------------------------------------------------------------
Cash flows relating to investing
activities 6,561,219 6,294,945
-------------------------------------------------------------------------

FINANCING ACTIVITIES
Issuance of common shares 66,754 236,628
Repayment of long-term debt (294,531) (282,446)
Repayment of obligations under
capital leases - (64,804)
-------------------------------------------------------------------------
Cash flows relating to financing
activities (227,777) (110,622)
-------------------------------------------------------------------------

Effect of exchange rate changes on cash
and cash equivalents (33,155) (312)
-------------------------------------------------------------------------

Net change in cash and cash equivalents
during the year (2,517,042) (4,582,805)
Cash and cash equivalents,
beginning of year 3,069,425 7,652,230
-------------------------------------------------------------------------
Cash and cash equivalents, end of year 552,383 3,069,425
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Supplemental cash flows information
Cash paid during the year for:
Interest 51,732 86,706
-------------------------------------------------------------------------


About Nexia
Nexia develops and manufactures complex recombinant proteins for use as biomaterials and biopharmaceutical products with medical and industrial applications. The Company`s lead group of products under development is BioSteel(R) recombinant spider silk for use in medical and industrial applications. Protexia(TM) is Nexia`s newest program in our product development pipeline. For more information, please visit Nexia`s website at www.nexiabiotech.com .


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.

For further information

Media Contact: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920, jturner@nexiabiotech.com
Investor Relations Contact: Jim McDonald, Executive Vice-President - Corporate Development, Nexia Biotechnologies Inc., (450) 424-8912, jmcdonald@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Hallo, aufwachen. In zwei Tagen dreht sich der Wind. Erste Daten zu der Wirksamkeit von Protexia.
Here we go !!! Momentan vom Handel ausgesetzt:


The U.S. Army and Nexia Announce Protexia(TM) Results
Thursday November 20, 11:20 am ET


MONTREAL, Nov. 20 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) reported today that the U.S. Army Medical Research Institute of Chemical Defense (USAMRICD) presented results from its Protexia(TM) program at the Joint Services Scientific Conference on Chemical and Biological Defense in Towson, Maryland.
The results indicate that Protexia(TM), manufactured in transgenic goats, binds a broad spectrum of nerve agents and has properties very similar to human butyrylcholinesterase (HuBChE) when compared in vitro under identical conditions. The data also indicate that Protexia(TM) is capable of binding stoichiometrically with nerve agents on a one molecule to one molecule basis.

Protexia(TM) Program Update

Nexia is developing a recombinant version of human butyrylcholinesterase (Protexia(TM)), a bioscavenger, as a medical countermeasure for nerve agents. Nexia continues to collaborate with both the USAMRICD and Defence R&D Canada Suffield (DRDC Suffield) to test Protexia(TM) in both in vitro and in vivo model systems. Three key milestones have been targeted within the next 12 months:


- First, to demonstrate in vitro binding and neutralization by
Protexia(TM) of a variety of nerve agents, including soman, sarin,
VX and tabun. Today`s disclosure by the U.S. Army of the results of
these experiments marks the successful completion of this first
milestone.
- Second, conduct early pre-clinical tests, including pharmacokinetic
studies, to determine residence time of Protexia(TM) in animal
models.
- Third, perform in vivo challenge studies with nerve agents to
demonstrate that Protexia(TM) is efficacious as a protective agent
in animal models.


Studies with HuBChE in rodents and non-human primates have demonstrated significant protection against the lethal effects of nerve agent intoxication. The data generated from these experiments clearly show similarities between Protexia(TM) and HuBChE and thus are important for the decision to transition into a development program and attract additional government development funding.
"We are excited by these results; Protexia(TM) functions just like native bioscavengers. We believe our transgenics technology provides a significant supply advantage," comments Jeffrey D. Turner, President and CEO of Nexia Biotechnologies Inc. "Our partnership with USAMRICD will allow Nexia to build on their considerable experience and advance together in the area of medical countermeasures."

With the Broad Agency Announcement (BAA) contract from U.S. Army Medical Research and Materiel Command (USAMRMC) and the Memorandum of Understanding with DRDC Suffield, Nexia is now working jointly with two leading organizations in nerve agent countermeasures.

Based on new regulations published by the U.S. FDA "Animal Efficacy Rule" (Federal Register 67 (105) pg 37988-98, May 31, 2002), there is now an established regulatory pathway for FDA review for medical countermeasures for chemical and biological defence. Products, like Protexia(TM), would likely be required to present extensive animal efficacy studies along with comprehensive human safety data.

Based on discussions with both USAMRICD and DRDC Suffield Nexia believes that Protexia(TM), if and when approved by regulatory authorities, may be used for prophylaxis and treatment in military markets. Additionally, Protexia(TM) may be of interest to local law enforcement and first responder personnel. Prophylaxis involves the pre-treatment of military personnel and civilian first responders who could be exposed to nerve agents. The treatment indication of Protexia(TM) would be a therapy for casualties on the battlefield or victims of terrorist nerve agent attacks.


More information concerning a general description of BChE and the
Protexia(TM) program can be obtained at www.nexiabiotech.com .

Conference Call and Webcast


Nexia will be holding a conference call regarding this press release on Thursday, November 20, 2003 at 16:10, and this call will be broadcast live on the web at www.nexiabiotech.com .
About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical and industrial applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s two lead programs are Protexia(TM) and BioSteel(R). Protexia(TM) is being investigated initially for use as a pre-treatment for military personnel to counter the toxic effects of nerve agents. Other potential uses of Protexia(TM) include detection and decontamination systems as well as treatment for nerve agent exposure, insecticide poisoning and cocaine overdose. BioSteel(R), a recombinant spider silk, is under development for use in medical device and industrial markets. For more information, please visit Nexia`s website at www.nexiabiotech.com .

About USAMRICD

USAMRICD develops medical countermeasures to chemical warfare agents and trains medical personnel in the medical management of chemical casualties and is a recognized leader in this field. Please refer to USAMRICD`s web site at: http://chemdef.apgea.army.mi
Nexia Announces that Protexia(TM) Meets Military`s Primary Objective; In Vivo Efficacy Milestone
Thursday January 22, 8:01 am ET


MONTREAL, Jan. 22 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) reported today positive results from the Protexia(TM) in vivo efficacy studies conducted by the U.S. Army`s Institute for Chemical Defense (ICD).
The studies evaluated the ability of Protexia(TM), a recombinant form of human butyrylcholinesterase (BChE), to protect laboratory animals from the toxic effects of nerve agents. The experimental program is a technical collaboration between ICD and Nexia. Nexia purified the Protexia(TM) from the milk of transgenic goats and ICD evaluated Protexia(TM) for its ability to protect animals from the toxic effects of organophosphate nerve agents. The results of these studies will be the subject of a peer reviewed, joint publication from the U.S. Army Medical Research and Materiel Command (USAMRMC) and Nexia later this year.

"The U.S. Army`s demonstration of Protexia(TM)`s in vivo efficacy is an important independent assessment. Protexia(TM) clearly protected all the animals in the study. These positive in vivo efficacy results with recombinant BChE are consistent with the Army`s research experience with plasma-derived BChE. We now know that Protexia(TM) can both protect animals and neutralize a wide range of nerve agents", commented Jeffrey D. Turner, President and CEO of Nexia Biotechnologies Inc. A recombinant source of BChE is important if the full market needs for bioscavengers like BChE are to be realized to protect DoD personnel and treat the public. This has created great impetus for expanding the production of Protexia(TM) via our transgenic goats and initializing the development toward making clinical grade Protexia(TM).

Nexia is working jointly with the USAMRMC under a Broad Agency Announcement (BAA) contract and a Cooperative Research and Development Announcement (CRADA), and a Memorandum of Understanding with Defence R&D Canada Suffield (DRDC Suffield) to advance Protexia(TM).

Protexia(TM) Program Update

Under the Protexia(TM) development plan announced in November 2003, three key milestones were expected to be completed within 12 months:


- The first milestone was to demonstrate in vitro binding and
neutralization by Protexia(TM) of a variety of nerve agents, including
soman, sarin, VX and tabun. This was successfully achieved on
November 20, 2003.
- The second was to perform in vivo challenge studies with nerve agents
to demonstrate that Protexia(TM) is efficacious as a protective agent
in animal models. Today`s results mark the successfully completion of
this milestone.
- Thirdly, ongoing early pre-clinical tests, including pharmacokinetic
studies, to determine residence time of Protexia(TM) in animal models,
should yield results shortly.


The data generated from these experiments clearly showed similarities between Protexia(TM) and HuBChE and thus are important for the decision to transition into a development program and attract additional government development funding. Studies with HuBChE in rodents and non-human primates have demonstrated significant protection against the lethal effects of nerve agent intoxication.
Based on regulations published by the U.S. FDA "Animal Efficacy Rule" (Federal Register 67 (105) pg. 37988-98, May 31, 2002), there is now an established regulatory pathway for FDA review for medical countermeasures for chemical weapons defence. Under this legislation, efficacy studies on humans to demonstrate protection from nerve agents would be considered unethical. Products, like Protexia(TM), would likely be required to present extensive animal efficacy data along with human safety data. In February 2003 pyridostigmine bromide (PB), was the first drug to be licensed by the FDA under these rules.

Based on discussions with both USAMRICD and DRDC Suffield, Nexia believes that Protexia(TM), if and when approved by regulatory authorities, may be used for prophylaxis and treatment in military markets. Additionally, Protexia(TM) could also be used by local law enforcement and first responder personnel. Prophylaxis involves the pre-treatment of military personnel and civilian first responders who may be exposed to nerve agents. The treatment indication of Protexia(TM) would be a therapy for casualties on the battlefield or victims of terrorist nerve agent attacks.

More information concerning a general description and background of BChE and the Protexia(TM) program can be obtained at www.nexiabiotech.com .

Conference Call and Web cast

Nexia will be holding a conference call on this matter in conjunction with is Annual General Meeting, its Programs Updates and its First Quarter 2004 Financial Statements Update on January 28, 2004 at 16:10, and this call will be broadcast live on the web at www.nexiabiotech.com .

About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical and industrial applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s two lead programs are Protexia(TM) and BioSteel(R). Protexia(TM) is being investigated initially for use as a pre-treatment or treatment for military personnel to counter the toxic effects of nerve agents. Other potential uses of Protexia(TM) include detection and decontamination systems as well as treatment for insecticide poisoning and cocaine overdose. BioSteel(R), a recombinant spider silk, is under development for use in medical devices. For more information, please visit Nexia`s website at www.nexiabiotech.com .

About USAMRMC

USAMRMC develops medical countermeasures to chemical warfare agents and trains medical personnel in the medical management of chemical casualties and is a recognized leader in this field. Please refer to USAMRICD`s web site at: http://chemdef.apgea.army.mil/ .

Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar statements are forward-looking statements. Such statements reflect management`s current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including risks and uncertainties discussed in Nexia`s filings with Canadian regulatory authorities. An additional business risk associated with the Protexia(TM) program relates to the fact that large purchases are expected to be made from a few customers. Changes in demand from these customers could significantly affect our program. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, such products would ultimately achieve commercial success.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

For additional Media and Investor Relations: Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., 450-424-8920 or at jturner@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
First Quarter 2004 Financial Results Reported by Nexia
Wednesday January 28, 8:01 am ET


MONTREAL, Jan. 28 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) today announced its financial results for the first quarter of fiscal 2004, ending November 30, 2003. The Company also announced ratification of its 2004 slate of directors during its Annual General Meeting and noted changes to management.
ADVERTISEMENT


The Company thanks outgoing members Mr. Marcel Thibault, Mr. Livio D. DeSimone and Mr. James McDonald for their many contributions to Nexia and welcome Mr. Peter Janson and Mr. Joseph Rus as new members to the Board of Directors. Mr. Janson was the former Chairman and Chief Executive Officer of AMEC (formerly Agra Inc.) from 1999 to 2002. He previously held the position of President and Chief Executive Officer at ABB Inc. U.S.A. from 1996 to 1999. Mr. Rus is the President and Chief Executive Officer of Shire BioChem and has occupied this position since his appointment in 2001, upon the merger of BioChem Pharma and Shire Pharmaceuticals where he held the position of President.

At the management level, Nexia announced the departures of Mr. James McDonald, who held the position of Executive Vice-President - Corporate Development, Mr. Bradley Cilley, who was Vice-President - Business Development, Medical Devices and Dr. Taoufik Mabrouk, who was Vice-President - Operations, Proteins. Management welcomes Mr. Kenneth Johnson as acting Chief Operating Officer. Mr. Johnson previously occupied the position of Vice- President - Therapy Systems for MDS Nordion from 1999 to 2004 and held the rank Chief Operating Officer of Fisher Scientific Worldwide Division for many years prior.

On November 20, 2003, Nexia reported that the U.S. Army Medical Research Institute of Chemical Defense (USAMRICD) presented results from its Protexia(TM) program at the Joint Services Scientific Conference on Chemical and Biological Defense in Towson, Maryland. These results indicated that Protexia(TM), manufactured in transgenic goats, would bind a broad spectrum of nerve agents and had properties very similar to human butyrylcholinesterase (HuBChE) when compared in vitro under identical conditions. The data also indicated that Protexia(TM) was capable of binding stoichiometrically with nerve agents on a one molecule to one molecule basis.

Furthermore, on January 22, 2004, Nexia announced positive results from the Protexia(TM) in vivo efficacy studies conducted by the USAMRICD. The U.S. Army`s demonstration of Protexia(TM)`s in vivo efficacy was an important independent assessment. Protexia(TM) clearly protected all the animals in the study. These positive in vivo efficacy results with recombinant BChE are consistent with the Army`s research experience with plasma-derived BChE.

Financial Update

For the quarter ending November 30, 2003, Nexia reported, in line with expectations, that the net loss deceased $790,000 to $1.86M or $0.08 per share when compared to a loss of $2.65M ($0.12 per share) for the quarter ending November 30, 2002. The decrease was due to reductions in almost all spending categories and increases in contract revenue from the U.S. Army of $253,000. A non-recurring closure charge of $120,000 relating its Plattsburgh facility was incurred.

Contract revenues for this quarter increased to $253,000 from nil for the quarter ended November 30, 2002. The revenues relate to the research contract with the U.S. Army to develop Protexia(TM). Interest revenues for the quarter ended November 30, 2003 decreased by $47,000 to $109,000 from $156,000 for the quarter ended November 30, 2002. The decrease in interest revenues was primarily due to lower cash balances.

Gross R&D expenses, including amortization expense of $240,000 ($257,000 in 2002), for the quarter ended November 30, 2003 decreased by $590,000 to $1.51 million from $2.10 million for the quarter ended November 30, 2002.

Investment tax credits and other government assistance ("ITC") in this quarter decreased by $32,000 to $188,000 from $220,000 for the quarter ended November 30, 2002. Investment tax credit receivables decreased by $70,000 due to reduction in R&D salary expenses. During the current quarter, the Company recorded grants of $38,000 from the Canadian Department of National Defence.

Business development expenses for the quarter ended November 30, 2003 decreased by $105,000 to $361,000 from $466,000 for the quarter ended November 30, 2002, which was primarily due to lower salary expense.

Administrative expenses decreased by $50,000 to $351,000 for this quarter from $401,000 for the quarter ended November 30, 2002, which was due to a reduction in salary expense. The overall decrease in administrative spending during the quarter was offset by a foreign exchange loss of $18,000, which occurred due to a large decrease in the U.S. dollar exchange rate. On October 28, 2003, the Company decided to close its facility in Plattsburgh New York and recorded a non-recurring charge of $120,000 for closure costs.

Nexia had cash and cash equivalents of $15.4 million at the first quarter. The major uses of funds during the three-month ended November 30, 2003, included $1.5 million used for operations and $56,000 invested in property, plant, equipment and intellectual property, compared to $2.7 million and $361,000 respectively for the three-month ended November 30, 2002. As at December 31, 2003 the Company had 23,133,014 common shares outstanding.

Under Nexia`s current operating plan, management believes that the Company`s current cash, cash equivalents, short-term investments and other current assets should be sufficient to finance its operations and capital needs through early into fiscal 2006.

Conference Call and Web cast

Nexia will be holding a conference call on January 28, 2004 at 16:10, and this call will be broadcast live on the web at www.nexiabiotech.com .

About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical and industrial applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s lead program is Protexia(TM). Protexia(TM) is being investigated initially for use as a pre-treatment or treatment for military personnel to counter the toxic effects of nerve agents. Other potential uses of Protexia(TM) include detection and decontamination systems as well as treatment for insecticide poisoning and cocaine overdose. BioSteel(R), a recombinant spider silk, is also under development for use in medical devices. For more information, please visit Nexia`s website at www.nexiabiotech.com .


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.

<<

CONSOLIDATED
BALANCE SHEETS

As at November 30, August 31,
2003 2003
$ $
(unaudited)
ASSETS


Current
Cash and cash equivalents 10,223,763 552,383
Short-term investments 5,208,382 16,415,440
Investment tax credits receivable 910,000 760,000
Receivables 491,357 649,450
Prepaids and other assets 361,199 400,930
-------------------------------------------------------------------------

Total current assets 17,194,701 18,778,203
Property, plant and equipment 5,172,891 5,419,859
Intellectual property 1,463,167 1,434,190
Long-term assets held-for-sale 41,479 44,400
-------------------------------------------------------------------------
23,872,238 25,676,652
-------------------------------------------------------------------------
-------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS` EQUITY


Current
Accounts payable and accrued liabilities 968,939 879,199
Deferred revenues 335,901 341,000
Current portion of long-term debt 195,279 191,142
-------------------------------------------------------------------------
Total current liabilities 1,500,119 1,411,341
Long term debt 104,092 154,490
-------------------------------------------------------------------------
1,604,211 1,565,831
-------------------------------------------------------------------------


Shareholders` equity
Capital stock 64,169,875 64,150,110
Contributed surplus 212,000 212,000
Deficit (42,113,848) (40,251,289)
-------------------------------------------------------------------------

Total shareholders` equity 22,268,027 24,110,821
-------------------------------------------------------------------------
23,872,238 25,676,652
-------------------------------------------------------------------------
-------------------------------------------------------------------------



CONSOLIDATED STATEMENTS
OF OPERATIONS AND DEFICITS
(Unaudited)

Three-month ended
November 30,
2003 2002
$ $

REVENUES

Contract revenues 252,700 -
Interest income 108,554 156,208
-------------------------------------------------------------------------
Total revenues 361,254 156,208
-------------------------------------------------------------------------

EXPENSES

Research and development 1,274,303 1,843,113
Amortization 240,414 257,359
-------------------------------------------------------------------------
Total research and development 1,514,717 2,100,472

Investment tax credits and other government
assistance (187,587) (220,340)
-------------------------------------------------------------------------
Net research and development 1,327,130 1,880,132
Business development 360,713 466,225
Administrative 350,769 401,021
Amortization 36,987 44,017
Loss (gain) on exchange rate 18,522 (1,801)
Interest on long-term debt 9,235 15,943
Restructuring costs 120,457 -
-------------------------------------------------------------------------
Total expenses 2,223,813 2,805,537
-------------------------------------------------------------------------
Net Loss 1,862,559 2,649,329
-------------------------------------------------------------------------
Deficit, beginning of period 40,251,289 29,267,289
-------------------------------------------------------------------------
Deficit, end of period 42,113,848 31,916,618
-------------------------------------------------------------------------

Basic and diluted loss per share 0.08 0.12
-------------------------------------------------------------------------


Weighted average number of common shares 23,125,723 23,009,789
-------------------------------------------------------------------------



CONSOLIDATED STATEMENTS
OF CASH FLOWS
(Unaudited)

Three-month ended
November 30,
2003 2002
$ $

OPERATING ACTIVITIES
Net loss (1,862,559) (2,649,329)
Add items not affecting cash flows:
Amortization of property, plant and equipment 253,067 281,312
Amortization of intellectual property 24,334 20,064
-------------------------------------------------------------------------
(1,585,158) (2,347,953)
Changes in non-cash working capital balances
relating to current operations 132,465 (393,245)
-------------------------------------------------------------------------
Cash flows from operating activities (1,452,693) (2,741,198)
-------------------------------------------------------------------------

INVESTING ACTIVITIES
Acquisition of property, plant and equipment (3,179) (291,448)
Acquisition of intellectual property (53,310) (70,176)
Maturity of short-term investments 11,207,058 19,005,592
Purchase of short-term investments - (2,750,764)
-------------------------------------------------------------------------
Cash flows relating to investing activities 11,150,569 15,893,204
-------------------------------------------------------------------------

FINANCING ACTIVITIES
Issuance of common shares 19,765 -
Repayment of long-term debt (46,261) (74,178)
-------------------------------------------------------------------------
Cash flows relating to financing activities (26,496) (74,178)
-------------------------------------------------------------------------

Net change in cash and cash equivalents during
the period 9,671,380 13,077,828
Cash and cash equivalents, beginning of the period 552,383 3,069,425
-------------------------------------------------------------------------
Cash and cash equivalents, end of the period 10,223,763 16,147,253
-------------------------------------------------------------------------

Supplemental cash flow information
Interest paid 9,235 15,943
-------------------------------------------------------------------------

>>



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920, jturner@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia Biotechnologies Inc. - Successful Completion of "Pharmacokinetics" Milestone Triggers Protexia(TM) Drug Development for Civilian and Military Indications
Tuesday April 13, 8:01 am ET


MONTREAL, April 13 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced the successful completion of the pharmacokinetic (PK) studies for Protexia(TM) - the final pre-development milestone. These studies, conducted by the US Army`s Institute for Chemical Defense and Defence R&D Canada-Suffield, confirmed an appropriate PK profile for Protexia(TM) in experimental animal models. The technical results will be presented at the Medical Defense "Biosciences Review" Conference on May 16, 2004. Completion of this milestone triggers the Protexia(TM) drug development program including; transgenic herd scale-up, Good Manufacturing Practises (GMP) purification process development and completion of the pre-clinical studies to support the filing of an Investigational New Drug Exemption (IND) with the US FDA.
Since the sarin nerve gas attack in the Tokyo subway system in 1995, the vulnerability of North American and European cities to chemical weapons is clear. Following 9/11, the US government has mounted an intensive anti-terrorism campaign and has allocated unprecedented financial resources to develop technologies and products to address these threats. Given the urgent civilian requirement and Protexia(TM)`s demonstrated effectiveness as a countermeasure for chemical weapons, Nexia will be expanding its Protexia(TM) drug development program to add the civilian post-exposure therapy (treatment) indication, which is a significantly larger market than its existing military battlefield prophylaxis indication.

Protexia(TM) Program Update

Under the Protexia(TM) development plan announced in November 2003, three key milestones were expected to be completed within 12 months:


- The first milestone was to demonstrate in vitro binding and
neutralization by Protexia(TM) of a variety of nerve agents, including
soman, sarin, VX and tabun. This was successfully achieved on
November 20, 2003.
- The second was to perform in vivo challenge studies with nerve agents
to demonstrate that Protexia(TM) is efficacious as a protective agent
in animal models. This was successfully achieved on January 22, 2004.
- The third milestone (pharmacokinetics) showed that a single injection
of Protexia(TM) resulted in a sustained elevation of blood BChE levels
for many hours. Regarding distribution of Protexia(TM) within the
body, the PK data shows that Protexia(TM) concentrates in the blood
stream. Retention in the blood is critical because it is here that
Protexia(TM) bioscavenges nerve agents that principally gain access to
the body`s nervous system via the blood.


"By leveraging military R&D and funding results, Nexia has completed these 3 milestones earlier than anticipated. We are now focussed on Protexia(TM) drug development for both military prophylaxis and civilian post-exposure therapies. The Strategic National Stockpile requires drugs like Protexia(TM) for rapid deployment during a domestic chemical weapon attack." stated Dr. Jeffrey D. Turner, President & CEO, Nexia.
About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s two lead programs are Protexia(TM) and BioSteel(R). Protexia(TM) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. BioSteel(R), a recombinant spider silk, is under development for use in medical devices. For more information, please visit Nexia`s website at www.nexiabiotech.com .

About USAMRMC

The United States Army Medical Research and Material Command (USAMRMC) develops medical countermeasures to chemical warfare agents and trains medical personnel in the medical management of chemical casualties and is a recognized leader in this field. Please refer to USAMRICD`s web site at: http://chemdef.apgea.army.mil/ .

About DRDC-Suffield

Defence Research and Development Canada (DRDC) Suffield is the Canadian Centre of expertise in chemical and biological (CB) defence and conducts world-class research and development in CB defence, to provide the Canadian Forces with the advice and equipment needed to counter the hazard from the use of CB weapons. ( www.suffield.drdc-rddc.gc.ca ).


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920 or jturner@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Second Quarter 2004 Financial Results Reported by Nexia
Thursday April 15, 8:01 am ET


MONTREAL, April 15 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) today announced its financial results for the second quarter of fiscal 2004, ending February 29, 2004 and reviewed the achievement of Protexia(TM) milestones.
ADVERTISEMENT


On January 22, 2004 - Nexia reported positive results from the Protexia(TM) "in vivo" efficacy studies conducted by the U.S. Army`s Institute for Chemical Defense (ICD). The studies evaluated the ability of Protexia(TM), a recombinant form of human butyrylcholinesterase (BChE), to protect laboratory animals from the toxic effects of nerve agents. The experimental program is a technical collaboration between ICD and Nexia. Nexia purified the Protexia(TM) from the milk of transgenic goats and ICD demonstrated Protexia(TM)`s ability to protect animals from the toxic effects of organophosphate nerve agents.

On April 13, 2004 - Nexia announced the successful completion of the pharmacokinetic (PK) study for Protexia(TM) - the final pre-development milestone. These studies, conducted by the ICD and Defence R&D Canada- Suffield, confirmed an appropriate PK profile for Protexia(TM) in experimental animal models. Completion of this milestone triggers the Protexia(TM) drug development program including; transgenic herd scale-up, Good Manufacturing Practises (GMP) purification process development and completion of the pre- clinical studies to support the filing of an Investigational New Drug Exemption (IND) with the US FDA.

Following 9/11, the US government has mounted an intensive anti-terrorism campaign and has allocated unprecedented financial resources to develop technologies and products to address these threats. Given the urgent civilian requirement and Protexia(TM)`s demonstrated effectiveness as a countermeasure for chemical weapons, Nexia will be expanding its Protexia(TM) drug development program to add the civilian post-exposure therapy (treatment) indication, which is a significantly larger market than its existing military battlefield prophylaxis indication.

Regarding BioSteel(R), Nexia has decided to refocus fibre development towards biopolymer sales and specialized nano-scale fibre applications for spider silk and away from traditional fibres and yarns. This decision was prompted by the emerging interest in nanofibres and by the ongoing technical challenges of producing bulk, cost competitive spider silk fibres with superior mechanical properties, especially strength. Nexia has suspended it`s outsourcing of spinning micron-sized fibres with Acordis SF and stopped its in- house spinning effort. Spinning of BioSteel(R) proteins into nanometer diameter fibres has been achieved and Nexia is now determining the product specifications for medical and micro-electronic applications.

Financial Update

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

For the quarter ending February 29th, 2004, Nexia reported, in line with expectations that the net loss decreased by $386,000 to $2.51 million ($0.11 per share) from $2.90 million ($0.13 per share) for the quarter ended February 28, 2003. The decrease was primarily due to reductions in research and development expenditures and increases in contract revenue from the ICD of $252,000.

Contract revenues for the quarter ended February 29th, 2004 increased to $252,000 from nil for the quarter ended February 28, 2003. The revenues relate to the research contract with the ICD to develop Protexia(TM). Interest revenues for the quarter ended February 29th, 2004 decreased by $53,000 to $105,000 from $158,000 for the quarter ended February 28, 2003. The decrease in interest revenues was primarily due to lower cash balances.

Gross research and development expenses, including amortization expense of $224,000 ($280,000 in 2003), for the quarter ended February 29th, 2004 decreased by $293,000 to $1.86 million from $2.16 million for the quarter ended February 28, 2003.

Investment tax credits and other government assistance ("ITC") in the quarter ended February 29th, 2004 increased by $86,000 to $308,000 from $222,000 for the quarter ended February 28, 2003. Investment tax credits decreased by $24,000 due to a reduction in research and development salary expenses. During the current quarter, the Company recorded grants of $110,000 from the Canadian Department of National Defense.

Business development expenses for the quarter ended February 29th, 2004 increased by $236,000 to $811,000 from $575,000 for the quarter ended February 28, 2003. This increase was primarily due to increases in compensation expenses related to certain terminations and incentives.

Administrative expenses were stable at $456,000 for the quarter ended February 29th, 2004 in comparison to $455,000 for the quarter ended February 28, 2003.

Nexia had cash and cash equivalents of $12.9 million at February 29th, 2004. The major uses of funds during the six-month ended February 29th, 2004, included $4.01 million used for operations and $84,000 invested in property, plant, equipment and intellectual property, compared to $5.47 million and $821,000 respectively for the six-month ended February 28, 2003. As of March 31, 2004, the Company has 23,314,889 shares outstanding.

Under Nexia`s current operating plan, management believes that the Company`s current cash, cash equivalents, short-term investments and other current assets should be sufficient to finance its operations and capital needs through early into fiscal 2006.


Conference Call and Web cast

Nexia will be holding a conference call on April 15, 2004 at 16:10, and
this call will be broadcast live on the web at www.nexiabiotech.com .

About Nexia


Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s products are Protexia(TM) and BioSteel(R). Protexia(TM) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. BioSteel(R), a recombinant spider silk, is a commercially available biopolymer and is under development for use in nanofiber applications. For more information, please visit Nexia`s website at www.nexiabiotech.com .

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.

<<

CONSOLIDATED
BALANCE SHEETS

As at February 29, August 31,
2004 2003
$ $
(unaudited)
ASSETS

Current
Cash and cash equivalents 12,860,319 552,383
Short-term investments - 16,415,440
Investment tax credits receivable 1,084,500 760,000
Receivables 284,683 649,450
Prepaids and other assets 464,861 400,930
_________________________________________________________________________
Total current assets 14,694,363 18,778,203
Property, plant and equipment 4,881,980 5,349,778
Intellectual property 1,458,932 1,434,190
Long-term assets held-for-sale 36,278 114,481
_________________________________________________________________________
21,071,553 25,676,652
_________________________________________________________________________
_________________________________________________________________________

LIABILITIES AND SHAREHOLDERS` EQUITY

Current
Accounts payable and accrued liabilities 967,295 879,199
Deferred revenues 89,857 341,000
Current portion of long-term debt 199,505 191,142
_________________________________________________________________________
Total current liabilities 1,256,657 1,411,341
Long-term debt 52,602 154,490
_________________________________________________________________________
1,309,259 1,565,831
_________________________________________________________________________

Shareholders` equity
Capital stock 64,171,131 64,150,110
Contributed surplus 218,751 212,000
Deficit (44,627,588) (40,251,289)
_________________________________________________________________________

Total shareholders` equity 19,762,294 24,110,821
_________________________________________________________________________
21,071,553 25,676,652
_________________________________________________________________________
_________________________________________________________________________



CONSOLIDATED STATEMENTS
OF OPERATIONS AND DEFICIT
(Unaudited)

Three-months Three-months Six-months Six-months
ended ended ended ended
February 29, February 28, February 29, February 28,
2004 2003 2004 2003
$ $ $ $
REVENUES
Contract revenues 252,450 - 505,150 -
Interest income 104,937 157,950 213,491 314,158
-------------------------------------------------------------------------
Total revenues 357,387 157,950 718,641 314,158
-------------------------------------------------------------------------
EXPENSES
Research and
development 1,639,612 1,876,013 2,913,915 3,719,126
Amortization 223,785 279,883 464,199 537,861
-------------------------------------------------------------------------
Total research
and development 1,863,397 2,155,896 3,378,114 4,256,987
Investment tax credits
and other government
assistance (307,949) (222,100) (495,536) (442,440)
-------------------------------------------------------------------------
Net research
and development 1,555,448 1,933,796 2,882,578 3,814,547
Business development 811,021 575,304 1,171,734 1,041,529
Administrative 455,629 454,758 806,398 855,779
Amortization 32,597 44,140 69,584 87,538
Loss on sale of fixed
assets 12,175 - 12,175 -
(Gain) Loss on
foreign exchange (4,175) 34,837 14,347 33,036
Interest on long-term debt 8,432 14,357 17,667 30,300
Restructuring costs - - 120,457 -
-------------------------------------------------------------------------
Total expenses 2,871,127 3,057,192 5,094,940 5,862,729
-------------------------------------------------------------------------
Net Loss (2,513,740) (2,899,242) (4,376,299) (5,548,571)
_________________________________________________________________________
Deficit, beginning
of period 42,113,848 31,916,618 40,251,289 29,267,289
-------------------------------------------------------------------------
Deficit, end
of period 44,627,588 34,815,860 44,627,588 34,815,860
_________________________________________________________________________
Basic and diluted loss
per share 0.11 0.13 0.19 0.24
_________________________________________________________________________
Weighted average number
of common shares 23,133,330 23,027,078 23,129,527 23,018,434
_________________________________________________________________________



CONSOLIDATED STATEMENTS
OF CASH FLOWS
(Unaudited)

Three-months Three-months Six-months Six-months
ended ended ended ended
February 29, February 28, February 29, February 28,
2004 2003 2004 2003
OPERATING ACTIVITIES
Net loss (2,513,740) (2,899,242) (4,376,299) (5,548,571)
Add items not
affecting cash flows:
Loss on sale of
fixed assets 12,175 - 12,175 -
Stock based
compensation expense 6,751 - 6,751 -
Amortization of property,
plant and equipment 230,376 303,179 483,443 584,491
Amortization of
intellectual property 26,006 20,844 50,340 40,908
-------------------------------------------------------------------------
(2,238,432) (2,575,219) (3,823,590) (4,923,172)
Changes in non-cash
working capital
balances relating to
current operations (319,176) (157,969) (186,711) (551,214)
-------------------------------------------------------------------------
Cash flows relating to
operating activities (2,557,608) (2,733,188) (4,010,301) (5,474,386)
-------------------------------------------------------------------------
INVESTING ACTIVITIES
Acquisition of property,
plant and equipment (5,395) (252,487) (8,574) (543,935)
Acquisition of
intellectual property (21,767) (207,291) (75,077) (277,467)
Maturity of short-term
investments 5,208,382 7,793,283 16,415,440 26,798,875
Purchase of short-term
investments - - - (2,750,764)
Proceeds from disposition
of fixed assets 58,952 - 58,952 -
-------------------------------------------------------------------------
Cash flows relating to
investing activities 5,240,172 7,333,505 16,390,741 23,226,709
-------------------------------------------------------------------------
FINANCING ACTIVITIES
Issuance of common shares 1,256 45,733 21,021 45,733
Repayment of
long-term debt (47,264) (75,664) (93,525) (149,842)
-------------------------------------------------------------------------
Cash flows relating to
financing activities (46,008) (29,931) (72,504) (104,109)
-------------------------------------------------------------------------
Net change in cash and
cash equivalents during
the period 2,636,556 4,570,386 12,307,936 17,648,214
Cash and cash
equivalents, beginning
of the period 10,223,763 16,147,253 552,383 3,069,425
-------------------------------------------------------------------------
Cash and cash
equivalents, end of
the period 12,860,319 20,717,639 12,860,319 20,717,639
-------------------------------------------------------------------------
Supplemental cash
flow information -
Interest paid 8,432 14,357 17,667 30,300
_________________________________________________________________________
>>



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920 or at jturner@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Press Release Source: NEXIA BIOTECHNOLOGIES INC.


Third Quarter 2004 Financial Results Reported by Nexia
Thursday July 15, 8:00 am ET


MONTREAL, July 15 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced its financial results for the third quarter of fiscal 2004, and showed continued positive developments for Nexia. Protexia(TM) - a leading military bioscavenger - was showcased at the US Army chemical countermeasure conference in Maryland, May 16-21. The Protexia(TM) production herd scale-up is on track to meet preclinical and clinical demands. Nexia`s contract revenues were up by 54% on a year-to-date basis as it enters the second year of the Protexia(TM) US Army contract.
ADVERTISEMENT


PROTEXIA(TM) FEATURED AT US ARMY CHEMICAL WEAPON COUNTERMEASURE FORUM

The US Army`s Institute for Chemical Defense (ICD) sponsors a biannual international scientific meeting, which focuses on the treatment of casualties resulting from a chemical weapon attack, both military and civilian. The first day of this meeting focused exclusively on bioscavengers as the next generation of countermeasures for nerve agents. Protexia(TM)`s development program was featured prominently and Nexia communicated Protexia(TM)`s progress via presentations and posters. ICD`s Program Manager for the Protexia(TM) program highlighted the Army`s positive research findings on Protexia(TM)`s in vivo performance to protect in animals.

PROTEXIA(TM) PRODUCTION ON TRACK

Protexia(TM) production in the milk of our transgenic goat herd is scaling-up as planned. In May, Nexia`s expanding herd surpassed 100 g of Protexia(TM) (recombinant human butyrylcholinesterase) in milk. This step up in the level of production is driving both the ongoing preclinical data capture and the development of GMP purification processes for clinical grade Protexia(TM). This work, being carried out in conjunction with MDS Pharma Services, is necessary for an IND submission to the US FDA. Nexia has initiated breeding Protexia(TM) genetics into our existing certified scrapie- free production herd, to ensure that the growing demand for Protexia(TM) is met.

Nexia is in discussions with regulators in the USA and Canada regarding the necessary steps involved in obtaining approval to use Protexia(TM) as both a prophylaxis and as a post-exposure therapy. Protexia(TM), like all drugs, must be proven to be safe and efficacious before approval. However, the special nature of counter-terrorist medicines has demanded creativity - a novel regulatory mechanism with the US FDA. Termed the "Animal Efficacy Rule", Nexia believes this approved legislation permits the testing of Protexia(TM)`s efficacy (Phase II and III) in animal models. In contrast, appropriate Phase I safety trials for Protexia(TM) will be completed in humans in the traditional manner.

BIOSTEEL(R) EXPLORATION OF NANO-FIBRE APPLICATIONS

With regard to our BioSteel(R) program, a number of organizations have signed confidentiality agreements with Nexia in order to explore the use of BioSteel(R) protein and nano-fibres in performance composite materials.

FINANCIAL UPDATE

For the quarter ending May 31, 2004, Nexia reported, in line with expectations, that the net loss decreased by $969,000 to $1.60 million ($0.07 per share) from $2.57 million ($0.11 per share) for the quarter ended May 31, 2003. The decrease was primarily due to reductions in research and development expenditures quarter over quarter and the restructuring charge recorded in the quarter ended May 31, 2003 of $627,000.

Contract revenues for the quarter ended May 31, 2004 decreased to $317,000 from $533,000 for the quarter ended May 31, 2003. The revenues relate to the research contract with the US Army`s Institute for Chemical Defense (ICD) to develop Protexia(TM). Interest revenues for the quarter ended May 31, 2004 decreased by $70,000 to $64,000 from $134,000 for the quarter ended May 31, 2003. The decrease in interest revenues was primarily due to lower cash balances. Additionally, miscellaneous sales of $24,000 for BioSteel(R) and $40,000 for the sale of goats were recorded in the current quarter.

Gross research and development expenses, including amortization expense of $219,000 ($284,000 in 2003), for the quarter ended May 31, 2004 decreased by $664,000 to $1.41 million from $2.07 million for the quarter ended May 31, 2003. The decrease was primarily attributable to the restructuring of operations implemented in May 2003.

Investment tax credits and other government assistance ("ITC") in the quarter ended May 31, 2004 decreased by $135,000 to $240,000 from $375,000 for the quarter ended May 31, 2003. Investment tax credits decreased by $165,000 due to a reduction in research and development salary expenses and a reduction in the refundable rate in Quebec. During the current quarter, the Company recorded grants of $78,000 ($48,000 in 2003) from the Canadian Department of National Defence.

Business development expenses for the quarter ended May 31, 2004 decreased by $33,000 to $406,000 from $439,000 for the quarter ended May 31, 2003. The decrease was due to the restructuring of operations in May 2003 which was offset by the use of external professional services.

Administrative expenses decreased by $53,000 to $288,000 for the quarter ended May 31, 2004 in comparison to $341,000 for the quarter ended May 31, 2003. The decrease was primarily due to the restructuring of operations in May 2003.

Nexia had cash and cash equivalents including short-term investments of $11.36 million at May 31, 2004. The major uses of funds during the nine-month ended May 31, 2004, included $5.6 million used for operations and $103,000 invested in property, plant, equipment and intellectual property, compared to $7.13 million and $991,000 respectively for the nine-month ended May 31, 2003. As at June 30, 2004, the Company had 23,366,789 common shares outstanding.

Under Nexia`s current operating plan, management believes that the Company`s current cash, cash equivalents, short-term investments and other current assets should be sufficient to finance its operations and capital needs through early fiscal 2006.

Conference Call and Web cast

Nexia will be holding a conference call on July 15, 2004 at 16:10, and this call will be broadcast live on the web at www.nexiabiotech.com .

About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s products are Protexia(TM) and BioSteel(R). Protexia(TM) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. BioSteel(R), a recombinant spider silk, is a commercially available biopolymer and is under development for use in nanofiber applications. For more information, please visit Nexia`s website at www.nexiabiotech.com .


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(TM) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.



<<
CONSOLIDATED BALANCE SHEETS
(unaudited)

As at May 31, August 31,
2004 2003

$ $
ASSETS

Current
Cash and cash equivalents 8,642,854 552,383
Short-term investments 2,718,422 16,415,440
Investment tax credits receivable 1,246,500 760,000
Receivables 513,454 649,450
Prepaids and other assets 448,597 400,930
_________________________________________________________________________
Total current assets 13,569,827 18,778,203
Property, plant and equipment 4,663,442 5,349,778
Intellectual property 1,320,183 1,434,190
Long-term assets held-for-sale 0 114,481
_________________________________________________________________________
19,553,452 25,676,652
_________________________________________________________________________
_________________________________________________________________________

LIABILITIES AND SHAREHOLDERS` EQUITY

Current
Accounts payable and accrued liabilities 1,046,265 879,199
Deferred revenues 0 341,000
Current portion of long-term debt 203,821 191,142
_________________________________________________________________________

Total current liabilities 1,250,086 1,411,341
Long term debt 0 154,490
_________________________________________________________________________
1,250,086 1,565,831
_________________________________________________________________________

Shareholders` equity
Capital stock 64,295,851 64,150,110
Contributed surplus 236,612 212,000
Deficit (46,229,097) (40,251,289)
_________________________________________________________________________

Total shareholders` equity 18,303,366 24,110,821
_________________________________________________________________________
19,553,452 25,676,652
_________________________________________________________________________
_________________________________________________________________________



CONSOLIDATED STATEMENTS
OF OPERATIONS AND DEFICITS
(Unaudited)

Three-months Three-months Nine-months Nine-months
ended ended ended ended
May 31, May 31, May 31, May 31,
2004 2003 2004 2003
$ $ $ $

REVENUES
Contract revenues 316,812 533,000 821,962 533,000
Interest income 63,887 133,989 277,378 448,147
Miscellaneous revenue 64,130 0 64,130 0
_________________________________________________________________________
Total revenues 444,829 666,989 1,163,470 981,147
_________________________________________________________________________

EXPENSES
Research and
development 1,192,321 1,792,612 4,106,236 5,542,883
Amortization 219,491 283,872 683,690 821,733
_________________________________________________________________________
Total research and
development 1,411,812 2,076,484 4,789,926 6,364,616
Investment tax credits
and other government
assistance (240,171) (374,700) (735,707) (817,140)
_________________________________________________________________________
Net research and
development 1,171,641 1,701,784 4,054,219 5,547,476
Business development 406,313 439,404 1,578,047 1,485,625
Administrative 287,622 340,639 1,094,020 1,160,581
Amortization 27,552 44,896 97,136 132,434
Loss on sale of
fixed assets 9,903 0 22,078 0
Loss on foreign
exchange 6,329 70,633 20,676 103,669
Interest on long-term
debt 6,978 12,788 24,645 43,088
Write-down of
intellectual property 130,000 0 130,000 0
Restructuring costs 0 627,281 120,457 627,281
_________________________________________________________________________
Total expenses 2,046,338 3,237,425 7,141,278 9,100,154
_________________________________________________________________________
Net Loss (1,601,509) (2,570,436) (5,977,808) (8,119,007)
_________________________________________________________________________
Deficit, beginning
of period 44,627,588 34,815,860 40,251,289 29,267,289
_________________________________________________________________________
Deficit, end
of period 46,229,097 37,386,296 46,229,097 37,386,296
_________________________________________________________________________
Basic and diluted
loss per share 0.07 0.11 0.26 0.35
_________________________________________________________________________
Weighted average number
of common shares 23,259,628 23,095,679 23,173,470 23,044,182
_________________________________________________________________________



CONSOLIDATED STATEMENTS
OF CASH FLOWS
(Unaudited)

Three-months Three-months Nine-months Nine-months
ended ended ended ended
May 31, May 31, May 31, May 31,
2004 2003 2004 2003
$ $ $ $

OPERATING ACTIVITIES
Net loss (1,601,509) (2,570,436) (5,977,808) (8,119,007)
Add items not
affecting cash flows:
Loss on sale of
fixed assets 9,903 0 22,078 0
Stock based
compensation expense 17,861 0 24,612 0
Amortization of
property, plant
and equipment 220,692 306,086 704,135 890,577
Amortization of
intellectual property 26,351 22,682 76,691 63,590
Write-down of
intellectual property 130,000 0 130,000 0
Non-cash restructuring
charge 0 122,940 0 122,940
_________________________________________________________________________
(1,196,702) (2,118,728) (5,020,292) (7,041,900)
_________________________________________________________________________
Changes in non-cash
working capital
balances relating to
current operations (385,394) 461,378 (572,105) (89,836)
_________________________________________________________________________
Cash flows relating to
operating activities (1,582,096) (1,657,350) (5,592,397) (7,131,736)
_________________________________________________________________________

INVESTING ACTIVITIES
Acquisition of property,
plant and equipment (2,166) (86,896) (10,740) (630,831)
Acquisition of
intellectual property (17,599) (82,929) (92,676) (360,396)
Maturity of short-term
investments 0 0 16,415,440 26,798,875
Purchase of short-term
investments (2,718,422) (11,207,058) (2,718,422) (13,957,822)
Proceeds from
disposition of
fixed assets 26,384 0 85,336 0
_________________________________________________________________________
Cash flows relating to
investing activities (2,711,803) (11,376,883) 13,678,938 11,849,826
_________________________________________________________________________

FINANCING ACTIVITIES
Issuance of common
shares 124,720 21,021 145,741 66,754
Repayment of
long-term debt (48,286) (77,178) (141,811) (227,020)
_________________________________________________________________________
Cash flows relating to
financing activities 76,434 (56,157) 3,930 (160,266)
_________________________________________________________________________
Net change in cash and
cash equivalents
during the period (4,217,465) (13,090,390) 8,090,471 4,557,824
Cash and cash
equivalents, beginning
of the period 12,860,319 20,717,639 552,383 3,069,425
_________________________________________________________________________
Cash and cash
equivalents, end of
the period 8,642,854 7,627,249 8,642,854 7,627,249
_________________________________________________________________________
Supplemental cash
flow information -
Interest paid 6,978 12,788 24,645 43,088
_________________________________________________________________________
>>



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, Ph.D. President and CEO, Nexia Biotechnologies Inc., (450) 424-8920 or at jturner@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Canadian Government Expands Support to benefit Nexia`s Counter-terrorism Antidote (Protexia(R)) Development in a 3 Year Program
Monday September 20, 8:00 am ET


MONTREAL, Sept. 20 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) and Defence R&D Canada - Suffield (DRDC Suffield), Alberta today announced the signing of a three year agreement to accelerate the development of Protexia(R), a biotech antidote for the world`s most dangerous chemical weapons (nerve agents).
ADVERTISEMENT


Under the terms of the Agreement, DRDC Suffield has allocated $2 M to execute on three objectives at their facility to delineate the clinical utility of Protexia(R) against specific chemical weapons threats. The prophylaxis medical indication involves protecting military personnel or first responders during deployment in situations with chemical weapons threats. The post-exposure therapy indication is for the use of Protexia(R) to treat casualties of chemical weapons. The third objective explores "Antidote Combination Therapy" to define the best combination of existing nerve agent antidotes with Protexia(R). Of particular interest is the expected positive synergy between Protexia(R) and oxime antidotes. Nexia is contributing senior scientific and technical staff to DRDC Suffield and will produce the Protexia(R) antidote in its Montreal facility.

"Our mission is to research promising new antidotes, test their performance within demanding military environments and then provide data that supports the regulatory approval process to allow product fielding that secures the Canadian Forces," commented Dr. Thomas Sawyer, Principal Investigator DRDC Suffield. "Our results clearly show that Protexia(R) is effective in countering the effects of nerve agents in animal models."

"DRDC`s financial and technical support will accelerate the development of Protexia(R) by carrying out essential pre-clinical studies designed to show that Protexia(R) is safe and effective as a nerve agent antidote," commented Dr. Jeffrey Turner, President & CEO, Nexia Biotechnologies Inc. "The commitment of funds and the access to military chemical weapons testing facilities show the importance of this program".

Protexia(R) is a recombinant version of human butyrylcholinesterase, a promising new antidote (medical countermeasure) that has been shown to protect animals from the toxic effects of multiple lethal exposures of the world`s most dangerous chemical weapons - nerve agents. Butyrylcholinesterase is a protein that is found naturally in blood to protect humans from naturally occurring toxins. Unfortunately, extraction of this important protein from blood, where it is present in minute quantities, is not feasible in commercial quantities. Protexia(R), Nexia`s recombinant version of this protein, can neutralize a wide range of nerve agents, such as soman or VX, once they enter the bloodstream. Nexia produces Protexia(R) through an advanced, proprietary transgenic process, and hopes to upgrade to clinical-grade Protexia(R) by mid- 2005. This biotechnological approach offers sufficient manufacturing power to make Protexia(R) available for the protection of both military personnel and the civilian population.

"We are extremely pleased that DRDC Suffield has the opportunity to work with Nexia Biotechnologies in such a forward-looking technology, one that is core to our mandate," stated Dr. Angus, Director General, DRDC Suffield.

About DRDC Suffield

DRDC Suffield is Canada`s centre of expertise in chemical and biological defence. DRDC offers timely technical advice, seminars, training and equipment to counter hazards from the use of chemical or biological agents. Advances in biochemical detection and identification, decontamination and medical countermeasure research continue to see DRDC Suffield as a world-class leader in CB research. DRDC Suffield is one of six defence research establishment of Defence R&D Canada (DRDC). DRDC, an agency within the Department of National Defence, has been keeping Canada in the forefront of defence and national security technology by providing scientific leadership to the Canadian Forces and the Canadian defence industry for more than 60 years. For more information, visit our website at www.drdc-rddc.gc.ca

About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s products are Protexia(R) and BioSteel(R). Protexia(R) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. For more information, please visit Nexia`s website at www.nexiabiotech.com .

Protexia and BioSteel are registered trademarks of Nexia Biotechnologies Inc. in Canada.


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(R) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Nexia Biotechnologies Inc. Contact: Jeffrey D. Turner, Ph.D., President and CEO, (450) 424-8920, jturner@nexiabiotech.com
DRDC Suffield Contact: Jennifer Faust, Communications Officer, (403) 544-4622, Jennifer.Faust@drdc-rddc.gc.ca



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
GTC Biotherapeutics Grants License To Technology To Support Nexia Biotechnologies` Protexia(R)
Thursday September 23, 8:30 am ET


FRAMINGHAM, MA and MONTREAL, QC, Sept. 23 /CNW Telbec/ - GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) and Nexia Biotechnologies Inc. ("Nexia", TSX: NXB) announced today that they have signed an exclusive agreement for GTC to license its transgenic technology for Nexia to continue the development, manufacture, and sale of Protexia(R). This licensing agreement includes access to GTC`s beta casein promoter and an option to license its filtration technology, which has been demonstrated to have utility for initial purification of Protexia(R). Protexia(R) is a recombinant form of butyrylcholinesterase (BChE) produced in the milk of Nexia`s transgenic goats. BChE is a naturally occurring enzyme found in the circulatory system of humans and acts as a bioscavenger which may be used to prevent the toxic effects of nerve agents and other organophosphate compounds. Protexia(R) is being developed by Nexia jointly with the US Army Medical Research Materiel Command (USAMRMC), and with Defence R&D Canada Suffield (DRDC Suffield), for therapeutic and prophylactic applications. The financial terms of the licensing agreement were not disclosed.
ADVERTISEMENT


"Protexia(R) has the potential to be an important biodefense product," stated Geoffrey F. Cox, Ph.D., GTC`s Chairman of the Board and Chief Executive Officer. "We are pleased to be able to license our intellectual property for the development of Protexia(R)."

"GTC`s casein promoter and filtration technology are important and a proven component of Nexia`s manufacturing process for Protexia(R)," commented Jeffrey D. Turner, Ph.D., President & CEO of Nexia. "The technology GTC and Nexia are putting together enables the development of this innovative biotech- based medicine to counter a significant chemical weapons threat globally and at home."

Nexia is working with the USAMRMC under the Broad Agency Announcement contract and a Cooperative Research and Development Agreement. Research and testing of Protexia(R) is also being developed under a three-year, funded Development & Testing Agreement with DRDC Suffield. Nexia has reported that Protexia(R) has delivered broad spectrum protection against multiple lethal doses of nerve agents in animal models. In addition, Nexia has reported that in animal models a single injection of Protexia(R) delivers sustained elevation of BChE levels in the blood, where it neutralizes the deleterious toxic effects of nerve agents.

The Protexia(R) program has begun the stages of herd scale-up, purification process development, and preclinical studies to support the filing of an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA).

About GTC

GTC Biotherapeutics is a leader in the development, production, and commercialization of therapeutic proteins through transgenic animal technology. GTC`s ATryn(R), a recombinant form of human antithrombin, is undergoing review for market authorization in Europe. Subject to satisfactory approval, GTC will be the first company to commercially offer a transgenically produced product, which is projected for mid-2005. In addition to the ATryn(R) program, GTC is developing a recombinant human serum albumin, a malaria vaccine, and a CD137 antibody to solid tumors. In its external programs, GTC`s technology is used to develop transgenic production of its partners` proprietary products, including both large-volume protein therapeutics as well as products that are difficult to produce in significant quantities from conventional recombinant production systems. GTC`s external program collaborations are developing transgenic versions of products such as monoclonal antibodies and immunoglobulin fusion proteins for conditions such as rheumatoid arthritis, HIV/AIDS and cancer. One of the external programs is in clinical trials with a transgenically produced product. Additional information is available on the GTC web site, http://www.gtc-bio.com .

About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s products are Protexia(R) and BioSteel(R). Protexia(R) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. Protexia(R) is recombinant human butyrylcholinesterase produced in the milk of Nexia`s transgenic dairy goats. Protexia(R)`s capability as a medical countermeasure has been demonstrated in vivo to protect animals from multiple lethal doses of a broad spectrum of nerve agent chemical weapons. BioSteel(R), a recombinant spider silk, is a commercially available biopolymer and is under development for use in nanofiber applications. For more information, please visit Nexia`s website at http://www.nexiabiotech.com .


Forward-Looking Statement for GTC

This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, including without
limitation statements regarding the potential approval and sale of
ATryn(R) in Europe, and the potential for further successful development
of Protexia(R) by Nexia. Such forward-looking statements are subject to a
number of risks, uncertainties and other factors that could cause actual
results to differ materially from future results expressed or implied by
such statements. Factors that may cause such differences include, but are
not limited to, the risks and uncertainties discussed in GTC`s most
recent Annual Report on Form 10-K and its other periodic reports as filed
with the Securities and Exchange Commission, including the uncertainties
associated with conducting clinical studies, and the risks and
uncertainties associated with dependence upon the actions of partners and
regulatory agencies, and the uncertainty that the Company will be able to
obtain additional revenues and financial resources, including through
continuing and new external programs and marketing and strategic partners
for some of its internal programs. GTC cautions investors not to place
undue reliance on the forward-looking statements contained in this
release. These statements speak only as of the date of this document, and
GTC undertakes no obligation to update or revise the statements, except
as may be required by law.

Forward-Looking Statement for Nexia

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed, by or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(R) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.


Protexia and BioSteel are registered trademarks of Nexia Biotechnologies
Inc. in Canada.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920 or at turner@nexiabiotech.com
Thomas E. Newberry Vice President, Corporate Communications, GTC Biotherapeutics, Inc., (508) 370-5374
Feinstein Kean Healthcare for GTC, Francesca DeVellis (investors), Barbara Askjaer (media), (617) 577-8110



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia Announces 2004 Year-End Financial Results, Provides a Corporate Update and Announces Strategic Alternatives Process
Tuesday December 14, 7:55 am ET


MONTREAL, Dec. 14 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) today announced its audited financial results for the fiscal year ended August 31, 2004 and reported revenues of $1.6 million, a 20% increase over last year, and a net loss of $8.5 million, which represents a 23% decrease compared to last year.

Nexia`s 2004 Highlights:

Protexia(R) Milestones Achieved
- Broad Spectrum - demonstrated effective in vitro binding and
neutralization by Protexia(R) of a variety of nerve agents,
including soman, sarin, VX and tabun.
- Effective - a series of in vivo challenge studies with nerve agents
- demonstrated clearly that Protexia(R) was efficacious as a medical
countermeasure in animal models.
- Drug Dynamics - pharmacokinetics (PK) studies showing that a single
injection of Protexia(R) resulted in a sustained elevation of BChE
levels for many hours in the bloodstream
- FDA Provides Clarity - Nexia is in discussions with regulators in
the USA and Canada. Protexia(R), like all drugs, must be proven to
be safe and efficacious in order to be approved and sold. However,
the special nature of counter-terrorist medicines, like Protexia(R),
uses a different regulatory mechanism within the US FDA. Termed the
"Animal Efficacy Rule", this approved legislation permits the
testing of efficacy (Phase II and III) in animal models because
human efficacy trials are unethical. Phase I safety trials for
Protexia(R) would be completed in humans in the traditional manner.
These new rules compress the development timelines and are expected
to accelerate the commercialization of Protexia(R).
- Protexia(R) production in the milk of our transgenic goat herd is
being scaled-up as planned. This year our expanding herd surpassed
200 g of Protexia(R) in their milk. This level of production is
sufficient for both the ongoing pre-clinical data capture and the
development of GMP purification processes for clinical grade
Protexia(R). This work is being carried out in conjunction with our
CRO, MDS Pharma Services and a Contract Manufacturer. We are now
actively breeding Protexia(R) genetics into our existing certified
scrapie-free production herd to ensure that we meet the growing
demand for Protexia(R).

Corporate Highlights
- Under Nexia`s current operating plan, management believes that the
Company`s current cash, cash equivalents, short-term investments and
other current assets should be sufficient to finance its operations
and capital needs until early fiscal 2006. However, in light of the
inherent uncertainties associated with research and development
programs, scale-up and commercialization of products, ability to
enter into collaborative research and development agreements, the
results of clinical testing, receipt of regulatory approval of
certain products and ability to secure licensing agreements,
management and the Board of Directors of Nexia have been exploring
and considering a number of strategic alternatives that could be
available to enable Nexia to fund its Protexia(R) program and to
meet its other corporate objectives. The Company has signed
confidentiality agreements, made management presentations and
received inquiries. There can be no assurance that the process
initiated by the Company will lead to any transaction. The Company
cannot comment on whether any such transaction will represent values
greater or lesser than those reflected in the current market
capitalization of Nexia`s shares. As a result of this process, the
Company has incurred significant expenses.
- Military partnership extended - Nexia and Defence R&D Canada -
Suffield (DRDC Suffield), Alberta signed a three year agreement to
accelerate the development of Protexia(R), a biotech antidote for
the world`s most dangerous chemical weapons (nerve agents). DRDC
Suffield has allocated $2 M to execute on three objectives at their
facility to delineate the clinical utility of Protexia(R) against
specific chemical weapons threats, including the prophylaxis medical
indication, the post-exposure therapy indication and, finally,
explore the "Antidote Combination Therapy" to define the best
combination of existing nerve agent antidotes with Protexia(R).
- Extended Technology Portfolio - Nexia signed an exclusive agreement
with GTC Biotherapeutics to license its transgenic technology for
Nexia to continue the development, manufacture, and sale of
Protexia(R). This licensing agreement includes access to GTC`s beta
casein promoter and an option to license its filtration technology,
which has been demonstrated to have utility for initial purification
of Protexia(R).
- Board Expertise in Pharmaceuticals Expanded - consistent with a
stronger pharmaceutical focus, Nexia welcomed Mr. Philip Blake,
President & CEO, Bayer Canada to the Board of Directors. Mr. Blake
brings a wealth of business expertise, particularly in the area of
drug development and medical countermeasures. The Board of Directors
would like to congratulate Mr. Russ on his promotion to Executive
Vice-President & General Manager, International, Shire
Pharmaceuticals Group, PLC. As this position is based in Europe,
Mr. Russ has resigned his seat on our Board. We thank him for his
service.
- Mr. Kenneth Johnson, acting Chief Operating Officer, has left the
company. Nexia thanks him for the time and effort he contributed to
the organization.

Protexia(R) Program Update


This past year has been one of solid product development and business advancement for Protexia(R) Nexia`s proprietary version of human butyrylcholinesterase. We have made great inroads towards producing Protexia(R) and, we have achieved or surpassed all of the military technical milestones for the Protexia(R) program laid out in last year`s Annual Report. Today, Nexia is the world`s biggest producer of recombinant bioscavengers. Nexia`s business model is based on our ability to produce Protexia(R) on a commercial scale. In the year ahead, we have three major objectives. We plan first to expand our manufacturing process with more transgenic goats and a larger purification system. Secondly, we will extend our dialogue with government regulators to show Protexia(R)`s performance in specific pre-clinical studies (toxicology, efficacy) prior to clinical studies, which are planned for the first half of 2006. Thirdly, our business development effort will find new healthcare uses for Protexia(R) to diversify our core military marketplace.
BioSteel(R) Program Update

Nexia has decided to refocus BioSteel(R) towards biopolymer sales and to research specialized nano-scale fiber applications for spider silk and away from traditional fibers and yarns. This decision was prompted by the emerging interest in nanofibers and by the ongoing technical challenges of producing bulk, cost-competitive spider silk fibers with superior mechanical properties, especially strength. Nexia has suspended its outsourcing of spinning micron-sized fibers with Acordis SF and stopped its in-house spinning effort. Spinning of BioSteel(R) proteins into nanometer diameter fibers has been achieved and Nexia is now determining product requirements with various industrial or consumer groups. While management in collaboration with these groups investigates alternative uses of BioSteel(R), future revenues associated with potential product applications can not be reasonably projected at this time. As a result, and in accordance with Nexia`s accounting policies, Nexia has decided to write-down the intellectual property associated with BioSteel(R).

Financial review

The net loss for fiscal year 2004 ("2004") decreased by $2.53 million to $8.46 million from $10.98 million for fiscal year 2003 ("2003"). The decrease in the overall loss was a result of expenditure reductions in net R&D and Administrative expenses of approximately $2.25 million, and increases in total revenues of $265,000. The overall reductions in spending were offset by an increase of $265,000 in business development and a write down of intellectual property primarily related to BioSteel(R) of $1.18 million. In 2003 a write-down of intellectual property of $19,000 was recorded.

Liquidity and capital resources

Nexia had cash, cash equivalents and short-term investments of $11.23 million at August 31, 2004, a decrease of $5.74 million from $16.97 million as at August 31, 2003. In addition, Nexia had $730,000 of investment tax credits recoverable and $597,000 of other current assets. The major uses of funds during 2004 included $5.68 million used for operations and $167,000 invested in plant, equipment and intellectual property, compared to $8.82 million and $1.07 million respectively during 2003. Nexia`s long-term debt repayments amounted to $191,000 in 2004 compared to $295,000 in 2003. The use of funds was offset by the receipt of $221,000 relating to the exercise of employee stock options in 2004. As at December 13, 2004, the Company had 23,366,789 common shares outstanding and 1,690,800 stock options. Under Nexia`s current operating plan, management believes that the Company`s current cash, cash equivalents, short-term investments and other current assets should be sufficient to finance its operations and capital needs until early fiscal 2006.


Conference Call and Web cast

Nexia will be holding a conference call on December 14, 2004 at 16:10,
and this call will be broadcast live on the web at www.nexiabiotech.com .

About Nexia


Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s lead product is Protexia(R), which is funded by a tripartite development consortia consisting of Nexia, and the U.S. and Canadian militaries. Protexia(R) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. Protexia(R) is recombinant human butyrylcholinesterase produced in the milk of Nexia`s transgenic dairy goats. Protexia(R)`s capability as a medical countermeasure has been demonstrated in vivo to protect animals from multiple lethal doses of a broad spectrum of nerve agent chemical weapons. For more information, please visit Nexia`s website at http://www.nexiabiotech.com .

Forward-Looking Statement
Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(R) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.

Protexia and BioSteel are registered trademarks of Nexia Biotechnologies
Inc. in Canada.


<<

CONSOLIDATED BALANCE SHEETS

As at August 31 (audited)


2004 2003
$ $
-------------------------------------------------------------------------
ASSETS

Current
Cash and cash equivalents 604,470 552,383
Short-term investments 10,624,216 16,415,440
Investment tax credits recoverable 730,000 760,000
Receivables 264,251 649,450
Prepaids and other assets 332,968 400,930
-------------------------------------------------------------------------
Total current assets 12,555,905 18,778,203
Property, plant and equipment 4,416,765 5,464,259
Intellectual property 282,149 1,434,190
-------------------------------------------------------------------------
17,254,819 25,676,652
-------------------------------------------------------------------------
-------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS` EQUITY
Current
Accounts payable and accrued liabilities 1,177,893 879,199
Deferred revenues - 341,000
Current portion of long-term debt 154,490 191,142
-------------------------------------------------------------------------
Total current liabilities 1,332,383 1,411,341
Long term debt - 154,490
-------------------------------------------------------------------------
1,332,383 1,565,831
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Shareholders` equity
Capital stock 64,370,763 64,150,110
Contributed surplus 258,263 212,000
Deficit (48,706,590) (40,251,289)
-------------------------------------------------------------------------
Total shareholders` equity 15,922,436 24,110,821
-------------------------------------------------------------------------
17,254,819 25,676,652
-------------------------------------------------------------------------
-------------------------------------------------------------------------


CONSOLIDATED STATEMENTS OF OPERATIONS
AND DEFICIT

Years ended August 31 (audited)

2004 2003
$ $
-------------------------------------------------------------------------
REVENUES
Contract revenues 1,155,239 712,000
Interest income 332,931 583,029
Miscellaneous revenues 72,085 -
-------------------------------------------------------------------------
1,560,255 1,295,029
-------------------------------------------------------------------------
-------------------------------------------------------------------------

EXPENSES
Research and development 5,299,412 7,121,506
Amortization of property, plant and
equipment and Intangible assets 903,094 1,121,468
-------------------------------------------------------------------------
Total research and development 6,202,506 8,242,974
Investment tax credits and
other government assistance (1,158,154) (1,085,972)
-------------------------------------------------------------------------
Net research and development 5,044,352 7,157,002
Business development 2,076,258 1,810,865
Administrative 1,379,933 1,522,310
Amortization of property, plant and equipment 124,970 179,346
Loss on sale of property, plant and equipment 22,078 -
Foreign exchange loss 27,985 82,833
Interest on long-term debt 28,821 51,732
Restructuring costs 79,974 627,281
Write-down of property, plant and equipment 51,770 828,557
Write-down of intellectual property 1,179,415 19,103
-------------------------------------------------------------------------
Total expenses 10,015,556 12,279,029
-------------------------------------------------------------------------
Net loss for the year 8,455,301 10,984,000
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Deficit, beginning of year 40,251,289 29,267,289
-------------------------------------------------------------------------
Deficit, end of year 48,706,590 40,251,289
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Basic and diluted loss per share 0.36 0.48
-------------------------------------------------------------------------

Weighted average number of shares
outstanding during the year 23,220,360 23,059,015
-------------------------------------------------------------------------
-------------------------------------------------------------------------


CONSOLIDATED STATEMENTS OF CASH FLOWS

Years ended August 31 (audited)

2004 2003
$ $
-------------------------------------------------------------------------

OPERATING ACTIVITIES
Net loss for the year (8,455,301) (10,984,000)
Add items not affecting cash:
Amortization of property, plant
and equipment 924,605 1,212,278
Amortization of intellectual property 103,459 88,536
Loss on sale of property, plant
and equipment 22,078 -
Stock based compensation expense 46,263 -
Non-cash restructuring charges - 122,941
Foreign exchange loss 4,708 33,155
Write-down of property, plant and equipment 51,770 828,557
Write-down of intellectual property 1,179,415 19,103
-------------------------------------------------------------------------
(6,123,003) (8,679,430)
Changes in non-cash working capital
balances relating to operations 440,855 (137,899)
-------------------------------------------------------------------------
Cash flows relating to operating activities (5,682,148) (8,817,329)
-------------------------------------------------------------------------

INVESTING ACTIVITIES
Acquisition of property, plant and equipment (36,295) (672,744)
Additions to intellectual property (130,833) (398,708)
Purchase of short-term investments (10,624,216) (19,166,204)
Maturity of short-term investments 16,415,440 26,798,875
Proceeds from disposition of fixed assets 85,336 -
-------------------------------------------------------------------------
Cash flows relating to investing activities 5,709,432 6,561,219
-------------------------------------------------------------------------

FINANCING ACTIVITIES
Issuance of common shares 220,653 66,754
Repayment of long-term debt (191,142) (294,531)
-------------------------------------------------------------------------
Cash flows relating to financing activities 29,511 (227,777)
-------------------------------------------------------------------------

Effect of exchange rate changes on cash
and cash equivalents (4,708) (33,155)
-------------------------------------------------------------------------

Net change in cash and cash equivalents
during the year 52,087 (2,517,042)
Cash and cash equivalents, beginning of year 552,383 3,069,425
-------------------------------------------------------------------------
Cash and cash equivalents, end of year 604,470 552,383
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Supplemental cash flows information
Cash paid during the year for:
Interest 28,821 51,732
-------------------------------------------------------------------------
>>



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, Ph.D., President and CEO, Nexia Biotechnologies Inc., (450) 424-8920 or at jturner@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia`s Military Biotech Drug Protexia(R) Shows Promise as a Rescue Therapy for Civilian CW Casualties
Tuesday December 14, 8:00 am ET


MONTREAL, Dec. 14 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX:NXB - News) announced today that their US & Canadian military biodefense partnerships have yielded early but promising results for the use of Protexia(R) (recombinant human butyrylcholinesterase - BChE) to treat civilian casualties resulting from a terrorist chemical weapon attack. The Protexia(R) program, initiated in 2003, has been focusing on the development of medical prophylaxis for military personnel and 1st responders working in contaminated areas. Protexia(R) is being developed for prophylaxis by Nexia in conjunction with military researchers at the U.S. Army Medical Research Institute of Chemical Defense (USAMRICD) in Maryland and Defence R&D Canada-Suffield (DRDC Suffield) in Alberta. The US Department of Defense has budgeted support for the development of recombinant BChE. Nexia`s Protexia(R) is in competition for this funding. Today`s announced results show that Protexia(R) can be effective as a rescue treatment, thus adding a new dimension to the existing program.
ADVERTISEMENT


Rescue therapy (post-exposure treatment) involves treating the casualties of a terrorist chemical weapons attack. Typically victims go to the hospital for medical assistance only after the onset of symptoms of nerve agent toxicity. With conventional therapies, the elapsed time from chemical exposure to start of treatment is critical. The tests conducted at USAMRICD and DRDC Suffield simulated human nerve agent exposure with different skin types and time delays, then tested Protexia(R)`s efficacy when administered by different methods - intravenous (IV) or intramuscular (IM). Multiple lethal doses of the nerve agent VX, the most lethal nerve agent known, served as the toxic challenge. The risk of VX to humans is predominantly via skin or surface exposure; therefore, both military organizations` teams focused their trials on skin factors.

Experimental Results Prove Efficacy

USAMRICD administered Protexia(R) intramuscularly to guinea pigs approximately an hour after they had been exposed to 2X or 5X lethal doses of VX on the skin. Protexia(R) rescued 90% (9/10) of the 2X group of guinea pigs with no lingering toxic effects noted. At the very high 5X level, 4/10 guinea pigs were rescued by the Protexia(R) treatment. In addition, Protexia(R) delayed the time to onset of poisoning symptoms and lessened them when compared to the control groups. This observation is significant because it expands the opportunity to transport casualties and thus allow enhanced treatment outside and within a hospital setting.

DRDC Suffield administered Protexia(R) intravenously into domestic swine that had been previously exposed to 2X lethal doses of VX on the skin. DRDC Suffield used swine because the skin on the ears of these animals closely mimics human skin. Nerve agent was applied topically and gained access to the body across the skin. Protexia(R) rescued 75% (3/4) of the swine. As with the guinea pigs above, Protexia(R) produced a significant decrease in the severity of the signs of poisoning, as well as a delay in their onset, compared to VX-only treated animals.

Protexia(R) Manufacturing and Clinical Batches

These multi-center trials, which required many grams of Protexia(R), were possible because of the scaled-up manufacturing of Protexia(R) produced in the milk of transgenic goats. This level of production is sufficient to support all preclinical studies and cGMP process development. The clinical development program is expected to be regulated under the U.S. FDA`s Animal Efficacy Rule.

Terrorist attacks on Tokyo in 1995 documented the limitations of existing medical countermeasures and their deployment. Today`s standard of care involves repeated doses of a cocktail of drugs including; atropine, oxime reactivators and anticonvulsants. In the future, the use of biotech breakthrough drugs like Protexia(R) could provide definitive care with a just a single injection.

"Protexia(R)`s effectiveness as an antidote to nerve agent poisoning clearly demonstrates the potential of this new class of drugs to treat victims of terrorist chemical weapons attack", stated Dr. Thomas Sawyer, Chief Scientist, DRDC Suffield.

"Protexia(R) rescue therapy removes nerve agents directly from the bloodstream by breaking them down into inactive components, rather than just treating the neurotoxic symptoms, as is the case with existing therapy," stated Dr. Jeffrey D. Turner, President & CEO, Nexia Biotechnologies, "Protexia(R) clearly lessened the severity of nerve agent poisoning and delayed the onset of toxic effects in all animal models."

Concurrent Announcement

Nexia has today also made certain announcements relating to its year end financial results and other developments. For more information, please visit Nexia`s website at www.nexiabiotech.com .

About USAMRICD

The U.S. Army Medical Research Institute of Chemical Defense (USAMRICD) develops medical countermeasures to chemical warfare agents and trains medical personnel in the medical management of chemical casualties and is a recognized leader in this field. Please refer to USAMRICD`s web site at: http://chemdef.apgea.army.mil .

About DRDC Suffield

DRDC Suffield is Canada`s centre of expertise in chemical and biological defence. DRDC offers timely technical advice, seminars, training and equipment to counter hazards from the use of chemical or biological agents. Advances in biochemical detection and identification, decontamination and medical countermeasure research continue to see DRDC Suffield as a world-class leader in CB research. DRDC Suffield is one of six defence research establishment of Defence R&D Canada (DRDC). DRDC, an agency within the Department of National Defence, has been keeping Canada in the forefront of defence and national security technology by providing scientific leadership to the Canadian Forces and the Canadian defence industry for more than 60 years. For more information, visit their website at www.drdc-rddc.gc.ca .

About Nexia

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. The Company`s lead product is Protexia(R), which is funded by a tripartite development consortia consisting of Nexia, and the U.S. and Canadian militaries. Protexia(R) is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties of domestic terrorist attacks. Protexia(R) is recombinant human butyrylcholinesterase produced in the milk of Nexia`s transgenic dairy goats. Protexia(R)`s capability as a medical countermeasure has been demonstrated in vivo to protect animals from multiple lethal doses of a broad spectrum of nerve agent chemical weapons. For more information, please visit Nexia`s website at http://www.nexiabiotech.com .


Protexia is a registered trademark in Canada of Nexia Biotechnologies
Inc.

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities. An
additional business risk associated with the Protexia(R) program relates
to the fact that large purchases are expected to be made from a few
customers. Changes in demand from these customers could significantly
affect our program. There can be no assurance that such development
efforts will succeed, that such products will receive required regulatory
clearance or that, such products would ultimately achieve commercial
success.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Nexia Biotechnologies Inc. Contact: Jeffrey D. Turner, Ph.D., President and CEO, (450) 424-8920, jturner@nexiabiotech.com
DRDC Suffield Contact: Jennifer Faust, Communications Officer, (403) 544-4622, Jennifer.Faust@drdc-rddc.gc.ca



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia will alle Aktivitäten verkaufen, da weitere Forschung sonst nicht aufrechterhalten werden kann.
Das Ende einer spannenden Story? Was haltet Ihr davon?



Nexia Agreement For Asset Sale Awaiting OK From Shareholders

By Randall Osborne



West Coast Editor
Canadian firm Nexia Biotechnologies Inc. entered an agreement to sell all of its assets and operations to a subsidiary of privately held PharmAthene Inc. for $18 million in cash and preferred shares and warrants.

The move, yet to be approved by Nexia shareholders, sent the firm`s market value tumbling 33.9 percent. Nexia`s stock (TSE:NXB) closed Friday at C72 cents (US58 cents), down C37 cents.

Shareholders are slated to vote on the plan Feb. 28, and two-thirds must approve for it to go through. "It`s a continuation of the company under new ownership," said William Garriock, chairman of Nexia`s board.

Specifically, PharmAthene, of Annapolis, Md., would pay $18 million in cash and Series C convertible preferred shares of the company at about 91 cents per share; warrants to acquire Series C shares (in an amount equal to 30 percent of the number of Series C shares to be issued to Nexia), exercisable at about 91 cents per share and expiring in February 2008; and warrants to acquire common shares of PharmAthene (in an amount equal to 18 percent of the number of Series C shares issued), exercisable at 1 cent per share and expiring in October 2014.

Nexia has not disclosed how much of the $18 million would be cash and how much securities, but details will be made public later in filed documents, Garriock told BioWorld Today.

Nexia`s lead product is Protexia (butyrylcholinesterase), an early stage treatment designed to treat civilian casualties resulting from a terrorist chemical weapon attack. In December, Nexia said the program, begun in 2003, has focused on medical prophylaxis for military personnel and first responders working in contaminated areas.

"We`ve done testing in two species of animals, for both prophylactic and treatment use, but there`s so much more to be done," Garriock said, but the company has neither the scientific expertise nor the money for full development of Protexia.

Nexia also plans to divest BioSteel, its program focused on making a recombinant spider-silk fiber product. A Science paper in 2002 explained Nexia`s making of dragline spider silk proteins via cell culture techniques using silk genes derived from two different species of orb-weaving spiders.

Spider silk long has been admired for its toughness, strength, lightness and biodegradability for such applications as medical sutures and fishing lines - dragline silk is five times stronger than silk by weight - and Nexia seemed to have found a way to make it synthetically.

But in May 2003, the company ran into trouble, laying off about a third of its employees to save money because of delays in developing a commercial spinning process for the BioSteel program.

"Mother Nature is a bit of a tease," Garriock said. "You can get proof of principle relatively simply, and she even lets you get to the next step. So you can get one [thing] very easily, two you have to struggle for and the third she`s going to hold back on you. We could spin [BioSteel] but we couldn`t get the strength we needed."

Did Nexia`s trouble start there?

"One could look at that both ways," Garriock said. "Trouble, and then an opportunity. At the same time, Protexia came along as a concept, and then we got proof of principle and now we`re in animals."

Having turned its attention to Protexia, Nexia now has a prospective buyer - a potential happy, or at least not unhappy, ending.

PharmAthene specializes in anti-bioterrorism treatments, with two products in preclinical development against Bacillus anthracis (anthrax): ToxBlox, a therapeutic anti-toxin for treatment of symptomatic patients, and MDX-1303, a fully human monoclonal antibody in partnership with Medarex Inc., of Princeton, N.J., for pre-exposure and post-exposure prophylaxis and as a therapy for symptomatic patients.

"They seem to be very well connected with who will be the eventual buyers of Protexia," Garriock said.

If Nexia shareholders give their collective nod to the deal, only two employees of the company`s 65-member force will be leaving.

"This was very important to the board," he said. Jeffrey Turner and Dana Rath would resign as president and CEO and vice president of finance and administration, respectively.

A report filed by Nexia with the Canadian Securities Administrators shows that, for the fiscal year ending Aug. 31, 2004, the company had a deficit of $48.7 million, with total assets of $12.6 million.

In the PharmAthene deal, Garriock added, "We get to keep our cash residuals that we have on BioSteel, plus money forthcoming from government agencies."
Nexia Announces First Quarter Results and Provides Corporate Update
Friday January 14, 8:00 am ET


MONTREAL, Jan. 14 /CNW Telbec/ - Nexia Biotechnologies Inc. ("Nexia") (TSX: NXB - News) today announced its fiscal 2005 first quarter results and provided a corporate update.
ADVERTISEMENT


FINANCIAL UPDATE

The net loss for the quarter ended November 30, 2004 decreased by $72,000 to $1.79 million ($0.08 per share) from $1.86 million ($0.08 per share) for the quarter ended November 30, 2003. The decrease was due to reductions in almost all spending categories but was offset by expenses as related to exploring various financing alternatives including various merger, acquisition and divestiture alternatives. In addition, in 2003, a non-recurring closure charge of $120,000 relating its Plattsburgh, New York facility was incurred.

Revenues

Contract revenues for the quarter ended November 30, 2004 increased to $313,000 from $253,000 for the quarter ended November 30, 2003. The revenues relate to the research contract with the U.S. Army to develop Protexia(R). Interest revenues for the quarter ended November 30, 2004 decreased by $61,000 to $48,000 from $109,000 for the quarter ended November 30, 2003. The decrease in interest revenues was primarily due to lower cash balances and lower interest rates.

Research and Development Expenses

Gross R&D expenses, including amortization expense of $168,000 ($240,000 in 2003), for the quarter ended November 30, 2004 decreased by $330,000 to $1.18 million from $1.51 million for the quarter ended November 30, 2003. The decrease was primarily the result of reduced expenses attributable to the restructuring of operations implemented in 2003 and a significant reduction in expenses related to the BioSteel(R) program, which were partially offset by Protexia(R) development costs.

Investment tax credits and other government assistance ("ITC") in the quarter ended November 30, 2004 decreased by $11,000 to $177,000 from $188,000 for the quarter ended November 30, 2003. The net decrease is due to an increase in the refundable rate on Quebec investment tax credit which was offset by a reduction in other government assistance to nil in the current quarter in comparison to $38,000 in the comparable quarter of the previous year. These grants were received from the Canadian Department of National Defence.

Business Development Expenses

Business development expenses for the quarter ended November 30, 2004 increased by $419,000 to $780,000 from $361,000 for the quarter ended November 30, 2003, which was primarily due to professional fees regarding various possible merger, acquisition and divestiture activities.

Administrative Expenses

Administrative expenses decreased by $38,000 to $313,000 for the quarter ended November 30, 2004 from $351,000 for the quarter ended November 30, 2003 which was due to a reduction in the use of professional services.

Liquidity and Capital Resources

Nexia had cash and cash equivalents and short-term investments of $8.9 million at November 30, 2004. The major uses of funds during the three- month ended November 30, 2004, included $2.1 million used for operations and $203,000 invested in property, plant, equipment and intellectual property, compared to $1.5 million and $56,000 respectively for the three-month ended November 30, 2003. As at December 31, 2004 the Company had 23,366,789 common shares and 1,672,600 stock options outstanding.

The Company will incur significant expenditures related to the proposed transaction as described below in addition to expenses under Nexia`s current operating plan. If the transaction is not accepted by the shareholders, management believes that the Company`s current cash, cash equivalents, short- term investments and other current assets should be sufficient to finance its operations and capital needs into the end of calendar 2005. However, Nexia will have to curtail certain of its development activities in respect to the Protexia(R) program until additional funds are obtained either through government programs or a financing transaction.

PROTEXIA(R) PRODUCTION CONTINUES ON TRACK

As previously reported, Nexia`s Protexia(R) program has made significant progress. In December, Nexia announced the positive results of two independent series of tests, conducted by the U.S. Army (USAMRICD) and the Canadian (DRDC Suffield) military. The tests conducted at USAMRICD and DRDC Suffield simulated human nerve agent exposure with different skin types and time delays, then tested Protexia(R)`s efficacy when administered by different methods - intravenous (IV) or intramuscular (IM). In both cases, Protexia(R) delayed the time to onset of poisoning symptoms and lessened them when compared to control groups. This observation is significant because it expands the opportunity to transport casualties and thus allow enhanceds treatment outside and within a hospital setting.

Nexia signed a three year agreement in September with DRDC Suffield in Alberta to accelerate the development of Protexia(R). DRDC Suffield allocated $2 M to execute three objectives at their facility to delineate the clinical utility of Protexia(R) against specific chemical weapons threats.

Nexia announced also in September the signing of an exclusive agreement with GTC Biotherapeutics, Inc. (GTC) for GTC to license its transgenic technology for Nexia to continue the development, manufacture, and sale of Protexia(R).

CORPORATE UPDATE & SUBSEQUENT EVENTS

On January 6, 2005, Nexia issued a press release announcing that its Board of Directors has accepted an offer from PharmAthene, Inc. to purchase substantially all of its assets and operations related to the Protexia(R) program, pending shareholder approval on February 28, 2005. PharmAthene has offered US $18 million in cash and Series C Convertible Preferred shares, plus warrants. A cash payment of at least $0.60 per share will be distributed to Nexia shareholders following their approval of the deal and the cash distribution to shareholders. In addition, Nexia will hold the shares and warrants in PharmAthene and will be able to participate in the future success of Protexia(R) and the biodefense biologicals under development by PharmAthene. Nexia shareholders will continue to hold shares in Nexia following the closing of the transaction. Additional information and the complete agreement can be found on Nexia`s listing with SEDAR ( www.sedar.com ).

All of the operations and assets related to Protexia(R) will be acquired, which includes receivables, property, plant and equipment and intellectual property, and PharmAthene will assume the liabilities, including severance payments, related to the Protexia(R) operation and the long-term debt. Nexia will receive a total consideration of US$18 million for these assets. This consideration will include a minimum cash consideration of US$9.25 million and Series C convertible preferred shares, with a value of approximately US$0.91 per share, of PharmAthene as well as warrants to purchase Series C convertible preferred shares at US$0.91 per share, which expire in February 2008, equal to 30% of the number of Series C convertible preferred shares issued to Nexia and warrants to acquire common shares of PharmAthene equal to 18% of the Series C convertible preferred shares issued to Nexia, exercisable at US$0.01 per share until October, 2014 if certain milestones are not met. Two significant shareholders of Nexia, Ontario Teachers Pension Plan and Canadian Medical Discovery Fund will make a concurrent private placement in PharmAthene Series C convertible preferred shares at an aggregate minimum of US$3.5 million. In addition, Ontario Teachers Pension Plan Board and Canadian Medical Discovery Fund will invest their proceeds from the capital reduction of the Company in PharmAthene. Any additional investment in PharmAthene under the proposed agreement will result in an increase in the cash component of PharmAthene`s offer, and reduce proportionally the number of Series C convertible preferred shares issued as consideration. The reinvestment of a capital reduction of $0.60 per share would increase the cash proceeds to be received by Nexia by approximately US$1.6 million. Nexia will hold no more than 13% of the voting shares of PharmAthene.

Nexia will retain its cash and cash equivalents, short-term investments and investment tax credits recoverable as well as the liabilities not associated with Protexia(R) and will be responsible for paying its costs associated with this transaction. These liabilities and the Company`s portion of the cost of this transaction are estimated to be approximately $2 million. The Company expects to record a significant gain on this disposal. Nexia will retain assets associated with its BioSteel(R) program, which it intends to divest.

If accepted, this transaction will lead to a reduction of stated capital to Nexia shareholders as Nexia will effectively distribute to its shareholders the net available cash at Closing, which includes the cash proceeds from the sale of assets as well as the Company`s cash and short term investments on hand at the time. It is expected that Nexia will retain sufficient funds to carry out its duties for the foreseeable future and distribute funds in excess of this amount to its shareholders.

Nexia`s activities, after the transaction, will essentially be limited to overseeing its investment in PharmAthene. Accordingly, Nexia intends to reduce to the fullest extent possible the size of its Board of Directors and its management structure. In addition, Nexia will cease to meet certain listing requirements of the TSX, including the requirement to carry on an active business. Therefore, Nexia intends to apply to transfer its listing to NEX. NEX is an open auction market on which trading takes place using the same electronic system as the TSX Venture Exchange.

This proposed transaction must be approved by a majority of not less than two-thirds of the votes cast by the shareholders at the special meeting of shareholders which will be held on February 28th, 2005. Nexia intends to mail a proxy circular in late January 2005 that will provide additional information concerning the transaction.

Mr. Dana Rath, Vice-President, Finance & Administration has left Nexia. Nexia would like to take this opportunity to thank him for his dedicated service to Nexia. In the interim, his duties will be carried out by Nexia`s Controller.

ABOUT NEXIA

Nexia develops and manufactures complex recombinant proteins in the milk of transgenic goats for medical applications. Nexia`s strength is producing proteins that cannot be made commercially using other recombinant systems. Nexia`s lead product is Protexia(R), which is funded by a tripartite development consortia consisting of Nexia, and the U.S. and Canadian militaries.

Protexia(R), which is recombinant human butyrylcholinesterase, is being developed as a military prophylaxis and as a post-exposure therapy for civilian casualties in the event of a potential chemical nerve agent terrorist attack. Protexia(R)`s capability as a medical countermeasure has been demonstrated in vivo to protect animals from multiple lethal doses of a broad spectrum of nerve agent chemical weapons.

For more information, please visit Nexia`s website at www.nexiabiotech.com .


FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION

Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts,
including statements preceded by, followed by, or that include the words
"believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or
similar statements are forward-looking statements. Such statements
reflect management`s current views and are based on certain assumptions.
Actual results could differ materially from those currently anticipated
as a result of a number of factors, including risks and uncertainties
discussed in Nexia`s filings with Canadian regulatory authorities, the
approval of the transaction described herein by shareholders and the
satisfaction of all conditions relating thereto and to the financing
arrangements entered into among CMDF, OTPP and PharmAthene (including
obtaining all required consents or approvals). An additional business
risk associated with the Protexia(R) program relates to the fact that
large purchases are expected to be made from a few customers. Changes in
demand from these customers could significantly affect our program. There
can be no assurance that such development efforts will succeed, that such
products will receive required regulatory clearance or that, such
products would ultimately achieve commercial success. While Nexia
anticipates that subsequent events and developments may cause Nexia`s
views to change, Nexia specifically disclaims any obligation to update
these forward-looking statements.

Nexia assumes no responsibility with respect to any information contained
herein relating to any entity other than itself. Website addresses
referred to herein are provided for convenience purposes only and
information contained therein is not incorporated herein by reference,
nor does Nexia assume any responsibility in connection therewith.

This news release and the information contained herein does not
constitute nor is it intended to constitute a solicitation of proxies in
connection with the special meeting of shareholders of Nexia
Biotechnologies Inc. to be held to consider the proposed transaction.
Nexia will be sending a proxy circular to its shareholders and will be
filing other documents regarding the proposed transaction. For more
information, please visit www.sedar.com. Before making any voting or
investment decision, shareholders of Nexia and investors are urged to
read the proxy circular regarding the proposed transaction and any other
relevant documents carefully in their entirety when they become available
because they will contain important information about the proposed
transaction.

Protexia(R) and BioSteel(R) are registered trademarks of Nexia
Biotechnologies Inc. in Canada.


<<
CONSOLIDATED
BALANCE SHEETS

As at November 30, August 31,
2004 2004

$ $
(unaudited)
ASSETS
Current
Cash and cash equivalents 1,727,340 604,470
Short-term investments 7,180,269 10,624,216
Investment tax credits recoverable 907,000 730,000
Receivables 406,190 264,251
Prepaids and other assets 261,323 332,968
-------------------------------------------------------------------------
Total current assets 10,482,122 12,555,905
Property, plant and equipment 4,251,626 4,416,765
Intellectual property 457,600 282,149
-------------------------------------------------------------------------
15,191,348 17,254,819
-------------------------------------------------------------------------
-------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS` EQUITY

Current
Accounts payable and accrued liabilities 933,957 1,177,893
Current portion of long-term debt 104,092 154,490
-------------------------------------------------------------------------
Total current liabilities 1,038,049 1,332,383
Long term debt - -
-------------------------------------------------------------------------
1,038,049 1,332,383
-------------------------------------------------------------------------

Shareholders` equity
Capital stock 64,370,763 64,370,763
Contributed surplus 280,101 258,263
Deficit (50,497,565) (48,706,590)
-------------------------------------------------------------------------
Total shareholders` equity 14,153,299 15,922,436
-------------------------------------------------------------------------
15,191,348 17,254,819
-------------------------------------------------------------------------
-------------------------------------------------------------------------


CONSOLIDATED STATEMENTS
OF OPERATIONS AND DEFICITS
(Unaudited)

Three-months ended
November 30,
2004 2003
$ $

REVENUES
Contract revenues 312,648 252,700
Interest income 48,046 108,554
-------------------------------------------------------------------------
Total revenues 360,694 361,254
-------------------------------------------------------------------------
EXPENSES
Research and development 1,017,147 1,274,303
Amortization 168,021 240,414
-------------------------------------------------------------------------
Total research and development 1,185,168 1,514,717
Investment tax credits and other
government assistance (177,000) (187,587)
-------------------------------------------------------------------------
Net research and development 1,008,168 1,327,130
Business development 780,346 360,713
Administrative 312,902 350,769
Amortization 25,147 36,987
Loss on exchange rate 20,546 18,522
Interest on long-term debt 4,560 9,235
Restructuring costs - 120,457
-------------------------------------------------------------------------
Total expenses 2,151,669 2,223,813
-------------------------------------------------------------------------
Net Loss 1,790,975 1,862,559
-------------------------------------------------------------------------
Deficit, beginning of period 48,706,590 40,251,289
-------------------------------------------------------------------------
Deficit, end of period 50,497,565 42,113,848
-------------------------------------------------------------------------
Basic and diluted loss per share 0.08 0.08
-------------------------------------------------------------------------
Weighted average number of common shares 23,366,789 23,125,723
-------------------------------------------------------------------------

CONSOLIDATED STATEMENTS
OF CASH FLOWS
(Unaudited)
Three-months ended
November 30,
2004 2003
$ $

OPERATING ACTIVITIES
Net loss (1,790,975) (1,862,559)
Add items not affecting cash flows:
Amortization of property, plant
and equipment 186,262 253,067
Amortization of intellectual property 6,906 24,334
Stock-based compensation expense 21,838 -
-------------------------------------------------------------------------
(1,575,969) (1,585,158)
Changes in non-cash working capital
balances relating to current operations (491,229) 132,465
-------------------------------------------------------------------------
Cash flows from operating activities (2,067,198) (1,452,693)
-------------------------------------------------------------------------
INVESTING ACTIVITIES
Acquisition of property, plant and equipment (21,124) (3,179)
Acquisition of intellectual property (182,357) (53,310)
Maturity of short-term investments 3 443 947 11,207,058
Purchase of short-term investments - -
-------------------------------------------------------------------------
Cash flows relating to investing activities 3,240,466 11,150,569
-------------------------------------------------------------------------
FINANCING ACTIVITIES
Issuance of common shares - 19,765
Repayment of long-term debt (50,398) (46,261)
-------------------------------------------------------------------------
Cash flows relating to financing activities (50,398) (26,496)
-------------------------------------------------------------------------
Net change in cash and cash equivalents
during the period 1,122,870 9,671,380
Cash and cash equivalents, beginning of
the period 604,470 552,383
-------------------------------------------------------------------------
Cash and cash equivalents, end of the period 1,727,340 10,223,763
-------------------------------------------------------------------------
Supplemental cash flow information
Interest paid 4,560 9,235
-------------------------------------------------------------------------
>>



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

For Nexia, please contact William C. Garriock, Chairman of Nexia Biotechnologies Inc. at 450-424-8920



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia Biotechnologies Reschedules Annual General & Special Meeting to March 7, 2005
Wednesday February 9, 5:13 pm ET


MONTREAL, Feb. 9 /CNW Telbec/ - Nexia Biotechnologies Inc. ("Nexia") (TSX: NXB - News) today announced that its Board of Directors has rescheduled its Annual General and Special meeting by one week. Nexia`s Annual General and Special meeting will be held on March 7, 2005 at 3:00 pm (Montreal Time) at the Hilton Montreal Airport Hotel, Montreal, QC.
The annual general and special meeting was called to consider, amongst others, the proposed sale of substantially all of the assets and operations of Nexia to PharmAthene, Inc. If the resolutions are passed, shareholders will receive a minimum of $0.60 per share (and, in certain circumstances, up to a maximum of $0.72). Collectively all Nexia shareholders will receive approximately between $14 million (if $0.60 is distributed) and $16.8 million (if $0.72 is distributed) in cash. The exact amount of this distribution will be announced at the Meeting. Based on information currently available to management of Nexia, it is expected that the recommended special distribution will be between $0.60 and $0.68 per share. In addition, shareholders will continue to hold their shares of Nexia, whose value will be attributed to, amongst others, the securities (shares and warrants) of PharmAthene, as described in the management information circular.

The management information circular will be mailed to shareholders on February 9, 2005. It will be concurrently posted on Nexia`s website ( www.nexiabiotech.com ) and will be available on SEDAR ( www.sedar.ca ) shortly thereafter.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Jeffrey D. Turner, President & CEO of Nexia Biotechnologies Inc. at 450-424-8920



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia Biotechnologies Announces Completion of Sale of All Assets Associated with Protexia(R)
Monday March 14, 5:52 pm ET


MONTREAL, March 14 /CNW Telbec/ - Nexia Biotechnologies Inc. (TSX: NXB - News) today announced completion of the sale of substantially all of its operations and assets related to Protexia(R) (recombinant human butyrylcholinesterase) to a wholly-owned subsidiary of PharmAthene, Inc. ("PharmAthene"), a privately held biotechnology company focused on the development of biodefense therapeutics, based in Annapolis, Maryland.
Consequently, the distribution of $0.72 per share, resulting from the reduction of the stated capital of the issued and outstanding shares of Nexia approved by the shareholders on March 7, 2005, will be paid to shareholders of record on the close of business on March 23, 2005.



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

Bill Garriock, President & CEO, Dejan Ristic, Acting CFO, Nexia Biotechnologies Inc., (450) 424-8922
auf der Hannovermesse wird/wurde der(?) Spinnenstahl vorgestellt.

Werde ich mir gleich bei (3sat/nano)reinziehen, vielleicht gibts was neues?
Nexia Announces Second Quarter Results and Provides Corporate Update
Thursday April 14, 8:00 am ET


(in Canadian dollars except if otherwise indicated)
MONTREAL, April 14 /CNW TELBEC/ - Nexia Biotechnologies Inc. ("Nexia") (TSX: NXB - News) today announced, its second quarter 2005 results, and provided additional details on the completion of the sale transaction with PharmAthene and completion of the special return of capital $0.72 per share, as well as corporate and management changes and a change in it`s year end to May 31, from August 31.
ADVERTISEMENT



FINANCIAL UPDATE

The net loss for the quarter ended February 28, 2005 decreased by $706,000 to $1.81 million ($0.08 per share) from $2.51 million ($0.11 per share) for the quarter ended February 29, 2004. The decrease was due to reductions in all spending categories, offset slightly by lower overall revenues. Expenses related to the sale transaction, incurred in the second quarter of 2005, of approximately $1.36 million, of which $1.0 million was recorded as a prepaid expense as at February 28, 2005 will be charged against the sale proceeds in the quarter ended May 31, 2005. Nexia expects to record a gain on sale of these assets of approximately $15.6 million during the quarter ending May 31, 2005.

Revenues

Contract revenues for the quarter ended February 28, 2005 decreased to $116,000 from $252,000 for the quarter ended February 29, 2004. The revenues relate to the research contract with the U.S. Army to develop Protexia, that was completed in December 2004. Interest revenues for the quarter ended February 28, 2005 decreased by $64,000 to $41,000 from $105,000 for the quarter ended February 29, 2004. The decrease in interest revenues was primarily due to lower cash balances. Following the sale transaction, as described in the subsequent events section, only interest revenues are expected to be generated.

Research and Development Expenses

Gross R&D expenses, including amortization expense of $174,000 ($224,000 in 2004), for the quarter ended February 28, 2005 decreased by $514,000 to $1.35 million from $1.86 million for the quarter ended February 29, 2004. The decrease was primarily the result of reduced expenses attributable BioSteel(R) program, including the closure on the US farm facilities in the first quarter of 2004, which were partially offset by Protexia(R) development costs. Following the sale transaction, as described in the subsequent events section, the R&D expenditures are expected to be minimal.

Investment tax credits and other government assistance ("ITC") in the quarter ended February 28, 2005 decreased by $98,000 to $210,000 from $308,000 for the quarter ended February 29, 2004. The decrease is due to the reduction in other government assistance to nil in the current quarter in comparison to $110,000 in the comparable quarter of the previous year. These grants were received from the Canadian Department of National Defence. Following the sale transaction, as described in the subsequent events section, the ITC realized are expected to be minimal.

Business Development Expenses

Business development expenses for the quarter ended February 28, 2005 decreased by $400,000 to $411,000 from $811,000 for the quarter ended February 29, 2004, which was primarily due higher professional fees and severance payments recorded in 2004 Following the sale transaction, as described in the subsequent events section, the business development expenditures are expected to be substantially reduced, and will relate primarily to exploring the BioSteel(R) related opportunities.

Administrative Expenses

Administrative expenses decreased by $61,000 to $395,000 for the quarter ended February 28, 2005 from $456,000 for the quarter ended February 29, 2004, which was due to a reduction in the use of professional services and lower staffing levels. Following the sale transaction, as described in the subsequent events section, the administrative expenditures are expected to be reduced substantially, and will relate primarily to overseeing Nexia`s investment in PharmAthene, BioSteel(R) related activities and costs related to maintaining public company requirements.

Liquidity and Capital Resources

Nexia had cash and cash equivalents and short-term investments of $5.44 million at February 28, 2005. The major uses of funds during the three- month ended February 28, 2005, included $3.16 million used for operations and $261,000 invested in property, plant, equipment and intellectual property, compared to $2.56 million and $27,000 respectively, for the three-month ended February 29, 2004. As at March 31, 2005 the Company had 23,427,539 common shares and 1,538,850 stock options outstanding.

As described in the subsequent events section, the Company received $13.5 million ($11.2 US million) in cash on March 14th, 2005, related to the sale transaction, and on March 23, 2005 distributed to is shareholders a special $0.72 per share, reduction in stated capital of $16.9 million. Immediately following the distribution, Nexia had $2.3 million in cash and cash equivalents and estimated working capital of $2.8 million. Considering the substantially reduced operations of Nexia, management believes that the Company`s cash, cash equivalents, short-term investments and other working capital should be sufficient to finance its operations and capital needs for approximately 36 to 48 months. However, should Nexia be required to exercise is rights related to PharmAthene warrants, additional funds may be required.


SUBSEQUENT EVENTS

Completion of Sale Transaction with PharmAthene


On March 7, 2005, Nexia`s, shareholders approved the sale of substantially all its operations and assets related to Protexia(R) (recombinant human butyrylcholinesterase) to a wholly-owned subsidiary of PharmAthene ("PharmAthene"), a privately held biotechnology company focused on the development of biodefense therapeutics, based in Annapolis, Maryland, USA. The shareholders` vote took place on March 7th at Nexia`s Annual and Special Meeting of Shareholders. The transaction, which was announced on January 6, 2005 was completed on March 14, 2005 with the purchase consideration of approximately $21.6 million (US $18.0 million) payable to Nexia as follows:

- $13.5 million (US $11.2 million) in cash;
- 7.5 million Series C Convertible Preferred Shares ("Series C Shares")
of PharmAthene to be issued at US$0.91 per share, with value of
approximately $8.1 million (US $6.8 million), and:
- 2.3 million warrants to acquire Series C Shares exercisable at
about US$0.91 per share and expiring in March 2008; and
- 1.3 million warrants to acquire common shares of PharmAthene
(subject to reduction if certain milestones are met by PharmAthene
as specified in the warrants) exercisable at US$0.01 per share and
expiring in October 2014.


All of the operations and assets related to Protexia(R) were disposed of. This includes receivables, property, plant and equipment and intellectual property, and PharmAthene has assumed the liabilities related to the Protexia(R) operation and the long-term debt, and all of Nexia`s remaining employees joined PharmAthene. PharmAthene has also agreed to reimburse Nexia for certain severance payments incurred before the sale transaction and will reimburse severance payments for all employees which were not hired by PharmAthene. Nexia retains its cash and cash equivalents, short-term investments and investment tax credits recoverable as well as the liabilities not associated with Protexia(R) and will be responsible for paying its costs associated with the sale transaction, estimated at $1.36 million during the quarter. As per the provisions of Nexia`s Stock Option incentive plan, all unvested stock options vest upon a change in control or the sale of substantially all assets and as a result of this transaction Nexia`s options have vested and a non-cash expense of approximately $205,000 related to the vesting of the these options will be recorded in the quarter ending May 31, 2005. Nexia`s activities, after the completed transaction, will be essentially limited to overseeing its investment in PharmAthene and exploring partnering or divestiture alternatives for the BioSteel(R) program. As such it is expected that the expenses and revenues will be substantially reduced in the period following the divestiture. As a result of this transaction, Nexia will hold approximately 10% interest in PharmAthene.
Reduction of Stated capital and Special Cash Distribution

Concurrently with their approval of the transaction, the shareholders of Nexia have also approved a reduction of the stated capital of the issued and outstanding common shares of Nexia which resulted in a distribution to the shareholders of $ 0.72 per share ($16.9 million) on March 23, 2005. For additional information, please review the Management Proxy Circular at www.sedar.com .

CORPORATE CHANGES

Nexia`s activities, after the completed transaction, will be essentially limited to overseeing its investment in PharmAthene, exploring partnering or divestiture alternatives for the BioSteel(R) program, and every effort is being made to reduce costs. Regarding personnel, all of Nexia`s employees were transferred to PharmAthene, except Dr. Jeffrey D. Turner who resigned as President and CEO. Nexia`s management and board wish to thank these employees for their contributions over the years. Mr. William C. Garriock will serve as the President and CEO and Mr. Dejan Ristic will serve as CFO. Nexia`s Board of Directors has been reduced to 4 including; Dr. Larry Milligan, Mr. Philip Blake, Dr. Harold Hafs and William C. Garriock as Chairman. Nexia thanks Mr. John Lawson, Mr. Peter Jansen, Ms. Rosemary Zigrossi, Dr. J.C. Renondin and Dr. Jeffrey Turner for their service on Nexia`s Board.

As a result of the completion of the sale transaction with PharmAthene, Nexia`s Board of Directors approved the change in Nexia`s financial year-end from August 31 to May 31. As a result, Nexia will be filing a short nine-month year-end financial statements as of May 31, 2005 with the comparative twelve month period ending August 31, 2004. These annual financial statements will be filed within 90 days from the new year end, on or before August 29, 2005. The August 31, 2005 financial statements and the MD&A for the first quarter of fiscal 2006 year ending May 31, 2006 will be issued on or before October 15, 2005, and 45 days thereafter for each of the second and third quarters, on or before Jan 14, 2006 and April 14, 2006, for the second and third quarter ending November 30, 2005 and February 28, 2006, respectively. Prior year quarterly information already issued will be used for comparative purposes.

ABOUT NEXIA

For more information, please visit Nexia`s website at www.nexiabiotech.com and Nexia`s continuing disclosure filings at www.sedar.com .

FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION

Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar statements are forward-looking statements. Such statements reflect management`s current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors. Nexia specifically disclaims any obligation to update these forward-looking statements. Nexia assumes no responsibility with respect to any information contained herein relating to any entity other than itself. Website addresses referred to herein are provided for convenience purposes only and information contained therein is not incorporated herein by reference, nor does Nexia assume any responsibility in connection therewith. For more information, please visit www.sedar.com . BioSteel(R) is a registered trademark of Nexia Biotechnologies Inc. in Canada.


FINANCIAL STATEMENTS

CONSOLIDATED
BALANCE SHEETS

As at February 28, August 31,
2005 2004
$ $
-------------------------------------------------------------------------
(unaudited)
ASSETS

Current
Cash and cash equivalents 5,438,848 604,470
Short-term investments - 10,624,216
Investment tax credits recoverable 1,117,000 730,000
Receivables 475,488 264,251
Prepaids and other assets 1,446,005 332,968
-------------------------------------------------------------------------
Total current assets 8,477,341 12,555,905
Property, plant and equipment 4,172,883 4,416,765
Intellectual property 600,547 282,149
-------------------------------------------------------------------------
13,250,771 17,254,819
-------------------------------------------------------------------------
-------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS` EQUITY

Current
Accounts payable and accrued
liabilities 824,519 1,177,893
Current portion of long-term debt 52,602 154,490
-------------------------------------------------------------------------
Total current liabilities 877,121 1,332,383
-------------------------------------------------------------------------

Shareholders` equity
Capital stock 64,370,763 64,370,763
Contributed surplus 308,601 258,263
Deficit (52,305,714) (48,706,590)
-------------------------------------------------------------------------
Total shareholders` equity 12,373,650 15,922,436
-------------------------------------------------------------------------
13,250,771 17,254,819
-------------------------------------------------------------------------
-------------------------------------------------------------------------

For complete financial statements, please visit www.sedar.com .




CONSOLIDATED STATEMENTS
OF OPERATIONS AND DEFICITS
(Unaudited)


Three-months ended Six-months ended
February 28/29, February 28/29,
2005 2004 2005 2004
$ $ $ $
-------------------------------------------------------------------------
REVENUES
Contract revenues 115,168 252,450 427,815 505,150
Interest income 40,789 104,937 88,836 213,491
-------------------------------------------------------------------------
Total revenues 155,957 357,387 516,651 718,641
-------------------------------------------------------------------------

EXPENSES
Research and
development 1,175,602 1,639,612 2,192,749 2,913,915
Amortization 173,627 223,785 341,648 464,199
-------------------------------------------------------------------------
Total research and
development 1,349,229 1,863,397 2,534,397 3,378,114
Investment tax credits
and other government
assistance (210,000) (307,949) (387,000) (495,536)
-------------------------------------------------------------------------
Net research and
development 1,139,229 1,555,448 2,147,397 2,882,578
Business development 410,671 811,021 1,191,017 1,171,734
Administrative 394,952 455,629 707,853 806,398
Amortization 23,044 32,597 48,192 69,584
Loss on sale of fixed
assets - 12,175 - 12,175
Loss (Gain) on exchange
rate (7,338) (4,175) 13,208 14,347
Interest on long-term
debt 3,548 8,432 8,108 17,667
Restructuring - - - 120,457
-------------------------------------------------------------------------
Total expenses 1,964,106 2,871,127 4,115,775 5,094,940
-------------------------------------------------------------------------
Net Loss (1,808,149) (2,513,740) (3,599,124) (4,376,299)
-------------------------------------------------------------------------
Deficit, beginning
of period 50,497,565 42,113,848 48,706,590 40,251,289
-------------------------------------------------------------------------
Deficit, end of
period 52,305,714 44,627,588 52,305,714 44,627,588
-------------------------------------------------------------------------
Basic and diluted
loss per share 0.08 0.11 0.15 0.19
-------------------------------------------------------------------------
Weighted average
number of common
shares 23,366,789 23,133,330 23,366,789 23,129,527
-------------------------------------------------------------------------
-------------------------------------------------------------------------

For complete financial statements, please visit www.sedar.com .


CONSOLIDATED STATEMENTS
OF CASH FLOWS
(Unaudited)


Three-months ended Six-months ended
February 28/29, February 28/29,
2005 2004 2005 2004
$ $ $ $
-------------------------------------------------------------------------

OPERATING ACTIVITIES
Net loss (1,808,149) (2,513,740) (3,599,124) (4,376,299)
Add items not affecting
cash flows:
Loss on sale of fixed
assets - 12,175 - 12,175
Amortization of property,
plant and equipment 187,399 230,376 373,661 483,443
Amortization of
intellectual property 9,272 26,006 16,179 50,340
Stock-based compensation
expense 28,500 6,751 50,338 6,751
-------------------------------------------------------------------------
(1,582,978) (2,238,432) (3,158,946) (3,823,590)
Changes in non-cash
working capital
balances relating to
current operations (1,573,420) (319,176) (2,064,648) (186,711)
-------------------------------------------------------------------------
Cash flows from
operating activities (3,156,398) (2,557,608) (5,223,594) (4,010,301)
-------------------------------------------------------------------------

INVESTING ACTIVITIES
Acquisition of property,
plant and equipment (108,655) (5,395) (129,779) (8,574)
Acquisition of
intellectual property (152,220) (21,767) (334,577) (75,077)
Maturity of short-term
investments 7,180,270 5,208,382 10,624,216 16,415,440
Purchase of short-term
investments - 58,952 - 58,952
-------------------------------------------------------------------------
Cash flows relating to
investing activities 6,919,395 5,240,172 10,159,860 16,390,741
-------------------------------------------------------------------------

FINANCING ACTIVITIES
Issuance of common
shares - 1,256 - 21,021
Repayment of long-term
debt (51,489) (47,264) (101,888) (93,525)
-------------------------------------------------------------------------
Cash flows relating to
financing activities (51,489) (46,008) (101,888) (72,504)
-------------------------------------------------------------------------
Net change in cash
and cash equivalents
during the period 3,711,508 2,636,556 4,834,378 12,307,936
Cash and cash
equivalents, beginning
of the period 1,727,340 10,223,763 604,470 552,383
-------------------------------------------------------------------------
Cash and cash
equivalents, end of
the period 5,438,848 12,860,319 5,438,848 12,860,319
-------------------------------------------------------------------------
Supplemental cash flow
information
Interest paid 3,548 8,432 8,108 17,667
-------------------------------------------------------------------------
-------------------------------------------------------------------------

For complete financial statements, please visit www.sedar.com .


http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

William C. Garriock, President, CEO and Chairman of the Board Dejan Ristic, CFO, (450) 424-8922, investors@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia announces a move to the NEX board of the TSX Venture Exchange
Monday May 9, 5:34 pm ET


MONTREAL, May 9 /CNW Telbec/ - Nexia Biotechnologies Inc. ("Nexia") (TSX: NXB - News), as previously disclosed in the Management Proxy Circular, announced today that Nexia is in the final stages of completing the application process to move its listing to the NEX board of the TSX Venture Exchange. The move is subject to approval by the TSX Venture Exchange. The number and nature of shares held by the shareholders will remain unchanged. The change relates to the NEX board of the TSX Venture Exchange, where Nexia`s shares will be traded on a going forward basis.
In order to maintain a listing on the Toronto Stock Exchange ("TSX"), where Nexia`s shares are being traded prior to the move to the NEX board, certain qualitative and quantitative requirements must be met. Subsequent to the completion of the sale of substantially of all of Nexia`s operating assets to PharmAthene Inc., as previously disclosed in March 2005, Nexia ceased to meet TSX listing requirements, as it will no longer be engaged in ongoing business. As a result, Nexia`s management decided to voluntarily move Nexia`s listing to the NEX board, a newly established separate board of the TSX Venture Exchange. Nexia will continue to be a reporting issuer under securities legislation in Canada following this move. Nexia`s trading symbol is expected to be NXB.H. For more information about the NEX exchange, please visit www.tsx.com/en/nex . Investors should contact their broker in order to obtain additional information on how to trade Nexia`s shares on the NEX board of the TSX Exchange.

ABOUT NEXIA

For more information, please visit Nexia`s website at www.nexiabiotech.com and Nexia`s continuing disclosure filings at www.sedar.com .

FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION

Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "believes"; "anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar statements are forward-looking statements. Such statements reflect management`s current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors. Nexia specifically disclaims any obligation to update these forward-looking statements. Nexia assumes no responsibility with respect to any information contained herein relating to any entity other than itself. Website addresses referred to herein are provided for convenience purposes only and information contained therein is not incorporated herein by reference, nor does Nexia assume any responsibility in connection therewith. For more information, please visit www.sedar.com .



http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=35334

For further information

William C. Garriock, President, CEO and Chairman of the Board
Dejan Ristic, CFO
(450) 424-8922
investors@nexiabiotech.com
www.nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia announces 2005 year end results - (in Canadian dollars)
Friday September 23, 11:14 am ET


MONTREAL, Sept. 23 /CNW Telbec/ - Nexia Biotechnologies Inc. ("Nexia") (NEX: NXB-H.V) today announced its May 31, 2005 year-end results.
The net income for the fiscal nine-months ended May 31, 2005 was $11.8 million (income of $0.50 per share) compared to a net loss of $8.5 million (loss of $0.36 per share) for the year ended August 31, 2004. The substantial variance is primarily due to the one-time $16.0 million gain on the sale of substantially all of Nexia`s operations and assets related to Protexia(R) to PharmAthene Inc ("PharmAthene"). On this transaction, Nexia received $21.6 million, consisting of $13.5 million in cash and $8.1 million in PharmAthene equity. The proceeds of $21.6 million, less transaction legal and professional fees amounting to $1.0 million, less the net carrying value of the assets disposed of $4.6 million, resulted in a net one-time gain of $16 million. Reductions in spending, across all categories were primarily due to a shorter fiscal period, subsequent to the year-end change to May 31, as well as substantially reduced operations, after the completed asset sale transaction, early in the third and final quarter of fiscal 2005. In addition, there were no write-downs of intellectual property in 2005, compared to a substantial expense of $1.18 million in 2004.

ADVERTISEMENT


After the asset sale transaction, Nexia had the following assets: the PharmAthene equity, minimal BioSteel(R) assets, and working capital of approximately $2.6 million as of May 31, 2005. The PharmAthene equity is being held in anticipation of an Initial Public Offering or other major liquidity event. Nexia`s activities since early March 2005, after the completed asset sale transaction to PharmAthene, have been substantially reduced and are now limited to overseeing Nexia`s investment in PharmAthene and very limited BioSteel(R) related activities. As a result, revenues and expenses have been substantially reduced in the period following the divestiture and are expected to remain at this substantially reduced level for the foreseeable future. Subsequent to March 14 2005, Nexia had no permanent full-time employees.

ABOUT NEXIA

For more information, please visit Nexia`s website at www.nexiabiotech.com . Nexia`s complete continuing disclosure documents, such as: the Annual Report including an update on the progress made by PharmAthene on Protexia(R) and Valortim(R), as well as MD&A and Consolidated Financial Statements for the fiscal 2005 can be accessed through Company`s securities filings at www.sedar.com .

FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward- looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors. Nexia specifically disclaims any obligation to update
these forward-looking statements. Nexia assumes no responsibility with respect
to any information contained herein relating to any entity other than itself.
Website addresses referred to herein are provided for convenience purposes
only and information contained therein is not incorporated herein by
reference, nor does Nexia assume any responsibility in connection therewith.
For more information, please visit www.sedar.com . BioSteel(R) is a registered
trademark of Nexia Biotechnologies Inc. in Canada.

For further information

William C. Garriock, President, CEO and Chairman of the Board
Dejan Ristic, Chief Financial Officer, (514) 58-NEXIA or investors@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia Announces First Quarter 2006 results
Friday October 28, 8:00 am ET


(in Canadian dollars)
MONTREAL, Oct. 28 /CNW Telbec/ - Nexia Biotechnologies Inc. ("Nexia") (NEX: NXB-H.V) today announced its August 31, 2005 first quarter 2006 results.
The loss for the quarter ended August 31, 2005 was $125,000 ($0.01 per share) compared to a net loss of $2.5 million ($0.11 per share) for the quarter ended August 31, 2004. The substantial variance was due to the reductions in spending, across all categories as a result of substantially reduced operations, after the completed, previously disclosed, asset sale transaction with PharmAthene Inc.

ABOUT NEXIA

For more information, please visit Nexia`s website at www.nexiabiotech.com . Nexia`s complete continuing disclosure documents, including: the first quarter 2006 report and interim financial statements, the 2005 Annual Report, the MD&A and consolidated financial statements for the fiscal 2005 can be accessed through Company`s securities filings at www.sedar.com .

FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward-looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors. Nexia specifically disclaims any obligation to update
these forward-looking statements. Nexia assumes no responsibility with respect
to any information contained herein relating to any entity other than itself.
Website addresses referred to herein are provided for convenience purposes
only and information contained therein is not incorporated herein by
reference, nor does Nexia assume any responsibility in connection therewith.
For more information, please visit www.sedar.com . BioSteel(R) is a registered
trademark of Nexia Biotechnologies Inc. in Canada.

For further information

William C. Garriock, President, CEO and Chairman of the Board or Dejan Ristic, Chief Financial Officer, (514) 58-NEXIA, investors@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
New Directors Expected To Be Nominated At Nexia`s Shareholders` Meeting
Thursday November 10, 5:14 pm ET


MONTREAL, Nov. 10 /CNW Telbec/ - Biotechnologies Inc. ("Nexia") (NEX: NXB-H.V) has been advised by David L. Tonken and Gregory B. Matthews of their intention to propose new directors for the company at the annual general meeting of the shareholders to be held on Friday, November 11, 2005, at 09:45 a.m. at the Toronto Board of Trade, 1 First Canadian Place, 77 Adelaide Street, Downtown Toronto, Ontario.
David Tonken and Greg Matthews recently acquired ownership of an aggregate of 6,200,464 common shares of Nexia representing approximately 26.5% of the issued and outstanding common shares of Nexia and were granted proxies to vote these shares at the meeting by the vendors.

ABOUT NEXIA

For more information, please visit Nexia`s website at www.nexiabiotech.com. Nexia`s complete continuing disclosure documents, including: the first quarter 2006 report and interim financial statements, the 2005 Annual Report, the MD&A and consolidated financial statements for the fiscal 2005 can be accessed through Company`s securities filings at www.sedar.com.

FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward-looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors. Nexia specifically disclaims any obligation to update
these forward-looking statements. Nexia assumes no responsibility with respect
to any information contained herein relating to any entity other than itself.
Website addresses referred to herein are provided for convenience purposes
only and information contained therein is not incorporated herein by
reference, nor does Nexia assume any responsibility in connection therewith.
For more information, please visit www.sedar.com. BioSteel(R) is a registered
trademark of Nexia Biotechnologies Inc. in Canada.

For further information

William C. Garriock, President, CEO and Chairman of the Board
Dejan Ristic, Chief Financial Officer, (514) 58.NEXIA, investors@nexiabiotech.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Nexia Biotechnologies` Shareholders Elects New Board Of Directors
Monday November 14, 10:40 am ET


EDMONTON, Nov. 14 /CNW Telbec/ - Nexia Biotechnologies Inc. (NEX: NXB) announced that at the annual meeting of shareholders held in Toronto on November 11, 2005, Messrs. David L. Tonken, Gregory B. Matthews, and Dr. Jeffrey D. Turner were elected to the Board of Directors of the Corporation.
ADVERTISEMENT


Dr. Turner is a biotechnology consultant and the former President, CEO and founder of Nexia. Mr. Matthews, a member of the Law Society of Alberta and of the Upper Canada Law Society, is a managing director of Cavalon Capital Partners Ltd. Mr. Tonken, previously the President of Scout Capital Corp. (now Birchcliff Energy Inc. TSX: BIR) and Chairman of the Board, Synsorb Biotech Inc. (now Iteration Energy Ltd. TSX:ITX), has assumed the position of President and CEO of Nexia.

Mr. Tonken commented "We felt the company was best served by directors who had a significant financial investment in Nexia. Management will now work on a full-time basis to grow the company. We are going to assess all our assets and allocate capital in a strategic manner. We will consider new businesses, new financing, and new partnerships. We recognize our PharmAthene investment as a key component of Nexia`s future and will structure our business transactions to comply with our PharmAthene obligations and protect the value of the investment for our shareholders. We would like to take this opportunity to thank the past directors for their hard work and for assisting with the transition."

ABOUT NEXIA

For more information, please visit Nexia`s website at www.nexiabiotech.com. Nexia`s complete continuing disclosure documents, including: the first quarter 2006 report and interim financial statements, the 2005 Annual Report, the MD&A and consolidated financial statements for the fiscal 2005 can be accessed through Company`s securities filings at www.sedar.com.

FORWARD-LOOKING STATEMENT AND OTHER IMPORTANT INFORMATION


Except for the historical information presented herein, matters discussed
herein may constitute forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by
such statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the words "believes";
"anticipates"; "intends"; "plans"; "expects"; "estimates"; or similar
statements are forward-looking statements. Such statements reflect
management`s current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result
of a number of factors. Nexia specifically disclaims any obligation to update
these forward-looking statements. Nexia assumes no responsibility with respect
to any information contained herein relating to any entity other than itself.
Website addresses referred to herein are provided for convenience purposes
only and information contained therein is not incorporated herein by
reference, nor does Nexia assume any responsibility in connection therewith.
For more information, please visit www.sedar.com. BioSteel(R) is a registered
trademark of Nexia Biotechnologies Inc. in Canada.

For further information

David L. Tonken, President and CEO, Nexia Biotechnologies Inc., (780) 486-2317, tonken@icrossroads.com



--------------------------------------------------------------------------------
Source: NEXIA BIOTECHNOLOGIES INC.
Wer von den "long Investierten kann mir kurz
Mitteilen wie es mit den Patenten auf "den Spinnenstahl"
aussieht( Worldpatent?)

Und ob die ne Dividende Zahlen ?Wenn ja ,wie hoch?

Danke

By
Antwort auf Beitrag Nr.: 21.055.638 von Cors am 03.04.06 16:40:39kein Volumen - Fehltaxe!;)


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