BioMS Medical files preliminary short form prospectus for proposed $35 million offering


    Toronto Stock Exchange Symbol: MS

    EDMONTON, AB, April 10 /CNW/ - BioMS Medical Corp (TSX: MS), a leading
developer of products for the treatment of multiple sclerosis (MS), today
announced it has filed a preliminary short form prospectus with securities
regulatory authorities in British Columbia, Alberta, Manitoba, Ontario and
Québec in connection with a public offering of common shares of the Company.
    Orion Securities Inc. and Desjardins Securities Inc. will act as co-lead
underwriters for the offering on behalf of a syndicate of dealers. Jefferies &
Company, Inc. will act as a U.S. placement agent in the offering of common
shares on an exempt basis in the United States. The Company has granted the
underwriters an over-allotment option, exercisable in full or in part for a
period of 30 days following the closing of the offering, to purchase an
additional 15% of the common shares offered pursuant to the offering.
    The pricing of the offering will be determined based on market conditions
at the time of filing of the final short form prospectus. The Company expects
that the offering will raise approximately $35 million.
    The offering is anticipated to close in May 2007 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals including the approval of the Toronto Stock Exchange.
    BioMS will use the net proceeds from the offering to expand its clinical
trial programs and for general and corporate purposes.

    This press release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the U.S. Securities Act or any
state securities laws and may not be offered or sold within the United States
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.

    About BioMS Medical Corp.

    BioMS Medical is a biotechnology company engaged in the development and
commercialization of novel therapeutic technologies. BioMS Medical's lead
technology, MBP8298, is for the treatment of multiple sclerosis and is being
evaluated in two pivotal phase III clinical trials for secondary progressive
MS patients, MAESTRO-01 in Canada and Europe and MAESTRO-03 in the United
States. It additionally is being evaluated for relapsing remitting MS patients
in a Phase II trial in Europe entitled MINDSET-01. For further information
please visit our website at

    This press release may contain forward-looking statements, which reflect
the Company'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
Company'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 MBP8298 will continue to demonstrate a 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.

For further information:

For further information: Tony Hesby, Ryan Giese, Corporate
Communications, BioMS Medical Corp., (780) 413-7152, (780) 408-3040 Fax,
E-mail:, Internet:; James Smith,
Investor Relations, (416) 815-0700 ext. 229, (416) 815-0080 Fax, E-mail:

Organization Profile

Medwell Capital Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890