VANCOUVER, British Columbia, May 23, 2007 -- ProtoKinetix Inc. (OTCBB: PKTX)

has just received the results of studies conducted by ITTEC Stem, Inc. at the University of Finland. These outstanding results using AAGP(TM) in the cryopreservation process for stem cells demonstrate the vital importance of this molecule in the rapidly expanding stem cell industry. This is the first series of tests using AAGP(TM) on human embryonic stem cells. Using standard cryogenic protocol for stem cell storage, the addition of 2mg/ml of AAGP(TM) resulted in an amazing recovery of 87%. Traditional recovery rates after cryopreservation with DMSO (Dimethyl Sulphoxide) are typically between 30% and 40%. Stem cells grown, after cryopreservation with AAGP(TM), maintain their identity as stem cells, not differentiated. Differentiation occurs when a stem cell has started to change into another defined cell, such as kidney, liver, skin, or even nerve cells. It is critically important that stored embryonic stem cells do not differentiate during storage. The use of and research on human embryonic stem cells is being debated by every society in the world over moral and ethical issues. The ability of this molecule to dramatically increase the survivability and viability of human embryonic stem cells should assist in solving some of these highly contentious debates. Embryonic stem cells are the most versatile of the stem cell group, with the ability to transform into any cell in the human body. For further information, investors are asked to visit the ProtoKinetix Investor Relations Hub at www.agoracom.com/IR/ProtoKinetix or email to PKTX@agoracom.com. About ProtoKinetix: ProtoKinetix Inc. is a Biotechnical Company dedicated to the development of a family of synthetic antifreeze glycoproteins (AAGP(TM)) for human and veterinary medicine and the biotechnology 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. ProtoKinetix Inc. Blair Henderson, 604-687-9887