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BioMS Medical Announces Third Quarter 2008 Results
Date:11/6/2008

ended September 30, 2008 were $45.4 million compared to $36.0 million for the period of 2007.

Research and development expenses for the three months ended September 30, 2008 totaled $10.1 million compared to $9.1 million for the three months ended September 30, 2007. Research and development expenses for the nine months ended September 30, 2008 totaled $32.6 million compared to $29.6 million for the same period of 2007. It is expected that total research and development expenses will remain constant over the next two years as the MAESTRO-01 and MINDSET-01 clinical trials near completion and MAESTRO-02 and MAESTRO-03 increase in number of patients under treatment. General and administrative expenses were $1.3 million for the three months ended September 30, 2008 compared to $1.1 million for the three months ended September 30, 2007. General and administrative expenses were $11.6 million for the nine months ended September 30, 2008 compared to $5.2 million for the same period of 2007.

As at September 30, 2008, cash and short-term investments totaled $98.8 million compared to $38.0 million at December 31, 2007. As at September 30, 2008, the Company had working capital of $94.0 million (excluding the current portion of deferred revenue which does not represent a cash obligation) compared to $34.8 million at December 31, 2007. Management estimates that the current working capital is sufficient for the Company to meet its obligations in respect of the currently initiated clinical trials for which it is responsible under the Lilly agreement.

As at September 30, 2008 there were 91,086,323 common shares, 26,021,528 warrants and 9,161,500 stock options of the Corporation issued and outstanding.

About BioMS Medical Corp.

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BioMS Medical is a biotechnology company engaged in the development and commercialization of novel therapeutic technologies. BioMS Medical's lead technology, dirucotide (MBP8298), is for
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SOURCE BioMS Medical Corp.
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