ProtoKinetix, Inc. Fast Tracks Medical Application for AAGP™

PROTOKINETIX INC.            (PKTX: OTCBB)
Vancouver, British Columbia, August 08, 2006

Dr. John Todd, President and CEO of ProtoKinetix, Inc., reports that PKTX has started collaboration with several major institutions and hospitals to develop medical applications for AAGP™. These applications include the following:

    1.  Diabetes
The preservation of "islet cells" for use in transplantation for treatment of Type 1 (early onset) diabetes. These delicate cells, when transplanted successfully, have proven to be one of the most promising treatments for this form of diabetes.  The ability to extend the viability of these islets will substantially increase the success ratio of this procedure.

    2.  Heart Transplants
ProtoKinetix has successfully demonstrated the ability of AAGP™ to dramatically extend the viable life of both heart cells and heart tissues.  These results have initiated the request by a major North American transplant hospital to commence whole heart transplants using AAGP™ in small animal models.

    3.  Skin Grafts
As a result of the consistently impressive results in the area of skin cell preservation using AAGP™, a major international institution is interested in collaborating with PKTX to develop a protocol for skin transplantation for burn and trauma victims.

In addition to these medical applications, PKTX has commenced a detailed micro array assay of AAGP™. This assay will determine what, if any, gene interaction is present between the AAGP™ molecule and individual genes in the DNA. The micro array testing is an important step in our research to determine the mechanism of action of AAGP™.

These exciting new medical developments are being conducted in parallel with the current intensive studies being done on skin care and blood components.

About ProtoKinetix:
ProtoKinetix Inc. is a Biotechnical Company dedicated to the development of a family of synthetic antifreeze glycoproteins (AAGP™) for human and veterinary medicine, the biotechnology and cosmetic industries, and as a food additive. Using previously published research on native antifreeze proteins and antifreeze glycoproteins as a guide, and coordinating a vast pool of world recognized intellectual talent in a networked environment, PKTX is conducting rapid and meaningful research with a view to developing markets for this very useful family of molecules. Sign up for free automatic email news alerts at our new website at: www.protokinetix.com

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements.  Some information included in this press release contains statements that are forward-looking.  Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company.  For a description of additional risks and uncertainties, please refer to the Company’s filings with the Securities and Exchange Commission.

On behalf of the Board of Directors,

Dr. John Todd - President

Company Office:                       
Suite # 1500           
885 West Georgia Street           
Vancouver, BC  V6C 3E8          

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