BioMS Medical Provides Update on Dirucotide

    Toronto Stock Exchange Symbol: MS

    EDMONTON, Sept. 2 /CNW/ - BioMS Medical Corp. (TSX: MS), today provided
an update on developments in respect of dirucotide, its drug candidate for
multiple sclerosis (MS):

    Dirucotide Program Review Underway

    On July 27, 2009, BioMS Medical and Eli Lilly announced it was
discontinuing the clinical trials evaluating dirucotide, a novel therapeutic
peptide for the treatment of MS, to review all available data from these
studies. This process is currently underway and once the data has been
reviewed, BioMS Medical expects to be in a position to knowledgeably evaluate
potential options for the dirucotide clinical development program.

    BioMS and Eli Lilly Terminate Collaboration

    The exclusive license and collaboration agreement between BioMS Medical
and Eli Lilly and Company (NYSE:   LLY) for dirucotide has now been terminated
with the effect that all commercial rights to dirucotide are returned to
    "Our collaboration with Lilly for the development of dirucotide was
highly productive and professional, and we are appreciative for having had the
opportunity to work with them on this project," said Kevin Giese, President
and CEO of BioMS Medical. "As we move ahead, we look forward to completing our
review of the additional dirucotide clinical data and assessing the strategic
options available to BioMS."

    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, dirucotide, is for the treatment of multiple sclerosis. For
further information please visit our website at

    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 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.

For further information:

For further information: Tony Hesby, Ryan Giese, Amanda Stadel, 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:

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