Press Releases

BioMS Medical Plans Clinical Trial for New Platform Technology

– Phase I Trial Planned for HYC750 -

Edmonton, Alberta, February 12, 2003 - BioMS Medical Corp (TSX:MS), a leading developer in the treatment of multiple sclerosis, today announced plans to conduct a phase I human clinical trial to evaluate the safety and potential efficacy of HYC750 to mobilize stem cells and neutrophils for the treatment of cancer therapy related side effects.

It is anticipated that regulatory filings for approval of the trial will be made by the third quarter of this year, and that the proposed trial is targeted to take approximately up to one year in length.

HYC750 has undergone pre-clinical testing and animal toxicology studies, as well as
one preliminary human clinical trial, which have suggested that it is safe and well
tolerated. BioMS Medical acquired the exclusive worldwide license for the HYC750
platform technology from the University of Alberta in September 2002. The trial will
be funded with cash the company currently has on hand. The Company also intends
to evaluate HYC750 in a number of additional indications in the future.

"Initial research has shown that HYC750 has the potential to be a more effective, safer and affordable alternative to current commercially available stem cell and neutrophil mobilization products," said Kevin Giese, President of BioMS Medical.

"Current therapies have been limited in their effectiveness due to prohibitive costs and unwanted, occasionally severe, side effects. We estimate the market potential for effective products in this area to be in excess of $10 billion annually, with current products accounting for sales of just under $2 billion."

HYC750 is based on hyaluronic acid, a naturally occurring and vital component in the connective tissue of humans. Hyaluronic acid is currently used, in various forms, in a large number of commercially available products for applications such as ophthalmologic surgery, rheumatoid arthritis treatment, joint mobilization, wound healing, and as a carrier matrix for cells and drugs. In these applications, hyaluronic acid has been shown to be very safe.

About Stem Cell Mobilization and Neutrophil Generation

Efficient mobilization of hematopoetic cells such as stem cells and neutrophils is important in the treatment of various types of cancer and other life threatening diseases. Stem cells are found in the bone marrow where they produce red blood cells (for oxygen transportation) and white blood cells (which are the basis for the immune system).

For certain types of cancer, such as acute myelomic leukemia, treating the patient with strong chemotherapy agents can result in the destruction of stem cells. To avoid this, a common treatment regimen involves mobilizing stem cells out of the bone marrow into the blood stream, where they are harvested prior to chemotherapy. After chemotherapy, these harvested stem cells are reintroduced into the blood where they migrate back to the bone marrow and once again start producing blood cells.

Generation of neutrophils is also important as an adjunct treatment for many cancers. Neutrophils are part of the first line of defense of the immune system, but also are among the first to be destroyed by many common forms of chemotherapy treatment, leading to a weakened immune system. Stimulating the generation of additional neutrophils can help overcome this unwanted effect.

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.