Press Releases

BioMS Medical Completes Licensing Deal with Lilly

- BioMS receives $87 million upfront payment -

Edmonton, Alberta, January 25, 2008 – BioMS Medical Corp. (TSX: MS) reported today that it has completed the previously-announced licensing and development agreement with Eli Lilly and Company. As part of the agreement, BioMS has received an upfront cash payment of US$87 million. In December, 2007 BioMS Medical entered into a global licensing and development agreement granting Lilly exclusive worldwide rights to BioMS Medical's lead drug, MBP8298, for the treatment of multiple sclerosis (MS).

“We look forward to a productive and successful relationship with Lilly,” said Kevin Giese, President and CEO of BioMS. “With these resources and the support from a world-class pharmaceutical company, we are well positioned to realize our shared goal of developing MBP8298 to bring new hope to patients suffering from MS.”

This press release may contain forward-looking statements, which reflect the Corporation’s current expectation regarding future events. These forward-looking statements involve risks and uncertainties 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 factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation’s ongoing quarterly and annual reporting. Certain of the assumptions made in preparing forward-looking statements include but are not limited to the following: that dirucotide (MBP8298) will continue to demonstrate a satisfactory safety profile in ongoing and future clinical trials; and that BioMS Medical Corp. will complete the respective clinical trials within the timelines communicated in this release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.