Press Releases

BIOMS MEDICAL RECEIVES REGULATORY APPROVAL FOR PHASE II RELAPSING-REMITTING MULTIPLE SCLEROSIS TRIAL

Edmonton, Alberta, May 16, 2006 - BioMS Medical Corp (TSX: MS), a leading developer of products for the treatment of multiple sclerosis (MS), announced that it has received regulatory approval to initiate a phase II human clinical trial to investigate the efficacy and safety of MBP8298 in patients with relapsing-remitting multiple sclerosis (RRMS) in the first of several European countries. Patient enrollment is targeted to commence in the third quarter of this year and BioMS anticipates up to 30 sites will participate.

The trial is a 12 month, double blind, placebo-controlled trial and will enroll up to 215 RRMS patients. The trial will be followed by a 15 month active treatment open label extension period. The primary objective of the study is to demonstrate efficacy and safety of MBP8298 versus placebo in patients who are positive with immune response genes HLA-DR2 or HLA-DR4. Patients with the immune response genes, HLA-DR2 or HLA-DR4, account for up to 75% of the MS patient population.

“In addition to our on-going phase III trial for secondary-progressive MS (SPMS), expanding our clinical program into RRMS is significant as the combined patient population for these two indications represent approximately 90% of all MS patients,” said Kevin Giese, President of BioMS Medical.

About Multiple Sclerosis

Multiple sclerosis (MS) is thought to affect as many as 2.5 million people worldwide, including approximately 75,000 in Canada, 400,000 in the United States and over 450,000 in Western Europe. MS is an unpredictable, at times disabling disease of the central nervous system. The disease attacks the protective myelin covering of the central nervous system, causing inflammation and often destroying the myelin in patches.

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.