Press Releases

BioMS Medical Increases Equity Position in Drug Delivery Company

Edmonton, Alberta, January 6, 2006 – BioMS Medical Corp (TSX: MS), a leading developer in the treatment of multiple sclerosis (MS), today announced that it has exercised its option to purchase additional equity in BioCyDex Inc., a private company based in Edmonton, bringing BioMS Medical’s total equity position to 49%.

“Our increased equity position in BioCyDex demonstrates our commitment to the research and market opportunity it presents,” said Kevin Giese, President of BioMS Medical. “The additional investment will not significantly impact our cash resources.”

BioCyDex is developing a unique proprietary drug delivery technology to deliver both existing and novel anti-viral and chemotherapeutic compounds directly into cells, with the potential to greatly enhance their effectiveness. The company is additionally developing technology for the delivery and imaging of genes in cells, to be used as part of gene therapy treatments.

This is the third investment by BioMS Medical in technology that has been developed at the University of Alberta.

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.