European Authorities Accept Voclosporin for Regulatory Review

Trades on Toronto Stock Exchange - (TSX: ISA)

EDMONTON, Canada, March 2, 2010 - Isotechnika Pharma Inc. (TSX: ISA) today announced that the European
Medicines Agency (EMA) has validated the Marketing Authorization Application
(MAA) filed by its partner, Lux Biosciences, Inc., for voclosporin.
Following validation of the MAA, the dossier is distributed to members of
the Committee for Medicinal Products for Human Use (CHMP) for formal
review, which is expected to take one year.

In this application, voclosporin, a next generation calcineurin
inhibitor, is proposed for the treatment of non-infectious uveitis involving
the posterior segment of the eye, a leading cause of vision loss and
long-term disability and the fourth leading cause of legal blindness in the
industrialized world.

"With the EMA acceptance of the dossier we now expect the review process
to be completed by the end of February 2011. With approval, this will result
in a milestone payment of $3.52 million USD and royalty payments on sales
from our partner, Lux," said Dr. Robert Foster, President and CEO of
Isotechnika Pharma. "We also expect to hear about the acceptance of our
dossier by the FDA by April. If, based on its orphan drug status and the
request of Lux, it is granted priority review, the objective of the FDA is
to complete the review within six months. With approval, we would receive
another milestone of $7.04 million USD followed by royalty payments."

About Isotechnika Pharma

————————

Edmonton-based Isotechnika Pharma Inc. is a biopharmaceutical company
focused on the discovery and development of novel immunosuppressive
therapeutics that are designed to offer advantages over other currently
available treatments. There is a significant unmet medical need in the
treatment of both solid organ transplantation and autoimmune disease. It is
estimated that the market potential will be US$2.95 billion annually in
sales for calcineurin inhibitors such as voclosporin in 2010.

Voclosporin, Isotechnika Pharma's lead drug candidate, is a next
generation calcineurin inhibitor. It has completed a Phase 2b study for the
prevention of kidney rejection following transplantation and a Phase 3
European/Canadian trial for the treatment of moderate to severe psoriasis.
Our partner, Lux Biosciences, has filed dossiers for approval of voclosporin
in the U.S. and in Europe for the treatment of non-infectious uveitis. In the
U.S., Lux has been granted Fast Track designation. Lux Biosciences has also
conducted a Phase 1 trial using their proprietary voclosporin ophthalmic
solution (LX214) as a candidate for dry eye syndrome.

Isotechnika Pharma Inc. is a publicly traded company on the Toronto Stock
Exchange under the symbol "ISA". More information on Isotechnika Pharma can
be found at www.isotechnika.com or www.SEDAR.com.

Forward-Looking Statements

————————–

This News Release contains forward-looking statements which may not be
based on historical fact. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause actual results,
events or developments to be materially different from any future results,
events or developments expressed or implied by such forward-looking
statements. Such risks and uncertainties include, among others, the Company's
belief as to the potential of its products, its ability to protect its
intellectual property rights, securing and maintaining corporate alliances
and partnerships, the need for additional capital and the effect of capital
market conditions and other factors on capital availability, the ability to
economically manufacture its products, the potential of its products, the
success and timely completion of clinical studies and trials, and the
Company's and its partners' ability to successfully obtain regulatory
approvals and commercialize voclosporin. Investors should consult the
Company's quarterly and annual filings for additional information on risks
and uncertainties relating to the forward-looking statements. These factors
should be considered carefully and readers are cautioned not to place undue
reliance on such forward-looking statements.

For further information: Dr. Robert Foster, President & CEO, Isotechnika
Pharma Inc., +1-780-487-1600 ext. 247, +1-780-484-4105 (fax),
rfoster@isotechnika.com; Dr. Launa J Aspeslet, Chief Operating Officer,
Isotechnika Pharma Inc., +1-780-487-1600 ext. 225, +1-780-484-4105 (fax),
laspeslet@isotechnika.com/

For further information: Dr. Robert Foster, President & CEO, Isotechnika Pharma Inc., +1-780-487-1600 ext. 247, +1-780-484-4105 (fax), rfoster at isotechnika.com; Dr. Launa J Aspeslet, Chief Operating Officer, Isotechnika Pharma Inc., +1-780-487-1600 ext. 225, +1-780-484-4105 (fax), laspeslet at isotechnika.com/