March 18, 2004

News Release: BioMS Medical raises $9.3 million to develop MS drug

BioMS Medical Corp (TSX: MS), a leading developer in the treatment of multiple sclerosis (MS), today announced that it has completed the sale of 2,821,526 units of the Company at a price of $3.30 per Unit for gross proceeds of $9,311,000. Each Unit consists of one Class A common share of the Company and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share at a price of $4.30 per share on or before March 17, 2005. Union Securities Ltd. acted as agent.

'The proceeds from this offering will principally be applied towards the pivotal human clinical trial of our lead drug, MBP8298, for the treatment of multiple sclerosis,'said Mr. Kevin Giese, President and CEO. About BioMS Medical Corp.

BioMS Medical Corp. is a biopharmaceutical company dedicated to the development and commercialization of innovative therapies. BioMS Medical's patented MBP8298 technology for the treatment of multiple sclerosis has undergone Phase I and II human clinical trials. The Company has a platform technology, HYC750, involving a method for the potential mobilization of stem cells and neutrophils for the treatment of cancer therapy related side- effects, as well as an interest in BioCyDex, a private company developing platform drug and gene delivery and imaging technology. BioMS trades on the Toronto Stock Exchange under the symbol MS. For further information, please visit our web site at: www.biomsmedical.com.

This news release may contain certain forward-looking statements that reflect the current views and/or expectations of BioMS 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.

For further information: please contact Ryan Giese, CorporateCommunications, BioMS Medical Corp., (780) 413-7152, (780) 408-3040 Fax,E-mail: rgiese(at)biomsmedical.com, Internet: www.biomsmedical.com; JamesSmith, Investor Relations, Toronto, (416) 815-0700 ext. 229, (416) 815-0080Fax, E-mail: jsmith(at)equicomgroup.com; Mr. Barry Mire, Investor Relations,Quebec and U.S., Phone: (514) 939-3989, E-mail: bmire(at)renmarkfinancial.com

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