The consolidated net loss for the first quarter ended March 31, 2005 was $2.4 million or ($0.05) per share compared to a consolidated net loss of $4.4 million or ($0.09) per share for the first quarter of the previous year.

Total consolidated expenses for the first quarter of 2005 were $2.5 million compared to $4.5 million for the first quarter of 2004. Research and development expenditures totaled $1.0 million for the first quarter of 2005 compared to $3.4 million for the first quarter of 2004. General and administration expenditures totaled $1.1 million for the first quarter of 2005 compared to $0.8 million for the first quarter of 2004. Research and development expenses decreased due to completion of preparation work for the Company's pivotal trial for MBP8298, offset by the subsequent initiation of this trial. General and administration costs increased as a result of a general increase in the overall activity of the Company.

Revenue consisted entirely of interest earned on funds invested and was $92,000 for the first quarter of 2005 compared to $91,000 for the first quarter of 2004.

As at March 31, 2005 cash and short-term investments totaled approximately $50.1 million as compared to $14.4 million at December 31, 2004. At March 31, 2005 the Company had working capital of $50 million as compared to $14 million at December 31, 2004. The current working capital is sufficient for the Corporation to meet its on going obligations.

About BioMS Medical Corp.

BioMS Medical Corp. is a biotechnology company dedicated to the development and commercialization of innovative therapies. BioMS Medical's lead drug, MBP8298, is a patented technology for the treatment of multiple sclerosis and is currently in a pivotal Phase II/III clinical trial. The Company is poised to initiate a Phase I clinical trial for HYC750, a therapeutic designed to mobilize stem cells and neutrophils for the treatment of cancer therapy related side-effects. BioMS also has an equity interest in BioCyDex, a private company developing technology for the delivery of drugs into cells.

This news release may contain certain forward-looking statements that reflect the current views and/or expectations of BioMS Medical with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

Ryan Giese, Corporate Communications, BioMS Medical Corp., Phone: (780) 413-7152, rgiese@biomsmedical.com; James Smith, Equicom Group, Phone: (416) 815-0700 ext. 229, jsmith@equicomgroup.com; Barry Mire, Renmark Financial, Phone: (514) 939-3989, bmire@renmarkfinancial.com; Tony Hesby, VP Corporate Affairs, BioMS Medical Corp., Phone: (780) 413-7152, Tony.hesby@biomsmedical.com; Amanda Stadel, Investor Relations Manager, BioMS Medical Corp., Phone: (780) 413-7152, astadel@biomsmedical.com