ProtoKinetix Discovers a Major New Market for AAGP™

PROTOKINETIX INC. (PKTX: OTCBB)
Vancouver, British Columbia, November 14, 2006

Within the medical, pharmaceutical and research industries, long term storage of cells and tissue is accomplished using cryopreservation. Cryopreservation is extreme cold storage at temperatures below -80°C. At these low temperatures biologic activity, including biochemical reactions, are effectively stopped. Cells being preserved are often damaged during the freezing and the re-warming process.  To minimize damage to cells and tissue being preserved, a solution containing Dimethyl Sulphoxide (DMSO) is often used. However, there remains a significant cell and tissue loss in standard cryopreservation.

ITTEC Stem Inc. of Lavalle Quebec has just completed a series of experiments comparing cryopreservation techniques on human embryonic skin cells and Hela cells. These cell lines were preserved following standard cryopreservation techniques using DMSO with and without AAGP™. When 8.6 mM of AAGP™5 (di-amino acid AAGP™ molecule) was added to the solution, there was a 33.33% increase in cell survivability after 2-days of freezing at -80?C. Details of these results are available on the ProtoKinetix website:  www.protokinetix.com .

AAGP™ has been shown to significantly improve the yield from cryopreservation and opens a very large market for Protokinetix Inc. The market in industry includes the preservation of cell lines, bacterial, yeast and fungal cultures. In human and veterinary medicine there is a large market for the preservation of semen, blood, stem cells, oocytes, embryos as well as tissue samples. In the biomedical research industry, the ability to utilize effective cryopreservation techniques is invaluable.

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 bio technology and cosmetic industries. 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  


Investor Contact:
ProtoKinetix      
Blair Henderson
604-687-9887