BioChemics & Beth Israel Deaconess Medical Center Announce Wound Healing Research Collaboration.

DANVERS, Mass. -- BioChemics, Inc., a company "pioneering transdermal drug delivery," announced it has entered into a research collaboration with Beth Israel Deaconess Medical Center (BIDMC) to evaluate the wound healing effects of some of the Company's novel, proprietary formulations in preclinical models. BIDMC is one of the largest, most respected research hospitals in the country. BioChemics is a pharmaceutical company that has developed a novel, transdermal drug delivery system that for the first time may allow almost any drug to be efficiently delivered through the skin. The transdermal technology, called VALE[R] (Vaso-active Lipid Encapsulated), may allow a substantial portion of the pharmacopeia to be re-engineered, turning oral drugs into transdermals that are safer (no gastro-intestinal problems), cheaper and potentially faster acting (applied directly to the treated area) than oral equivalents.

Recent industry reports estimate the global wound care market to approach $12 billion by 2009, with a yearly growth rate in excess of 7%. US markets account for approximately half of the spending in this area. Indications for wound therapy and management include diabetes, age related skin or pressure ulcers, trauma and surgery.1

"Collaborating with BIDMC represents an exciting opportunity to partner with a premier academic hospital to further explore the use of our novel transdermal drug delivery formulations to treat wound healing," said John J. Masiz., President & CEO, BioChemics, Inc. "We continue to develop new transdermal delivery systems that target a variety of inflammatory and peripheral diseases."

"The area of wound healing is generating great interest and I look forward to working again with BioChemics, Inc.," said Dr. Aris Veves, Joslin-Beth Israel Deaconess Foot Center, Associate Professor in Surgery, Harvard Medical School.

Beth Israel Deaconess Medical Center

Beth Israel Deaconess Medical Center is a patient care, teaching and research affiliate of Harvard Medical School, and consistently ranks in the top four in National Institutes of Health funding among independent hospitals nationwide. BIDMC is clinically affiliated with the Joslin Diabetes Center and is a research partner of Dana-Farber/Harvard Cancer Care Center. BIDMC is the official hospital of the Boston Red Sox. For more information, visit www.bidmc.harvard.edu.

Dr. Aris Veves, Research Director, Joslin-Beth Israel Deaconess Foot Center, Associate Professor in Surgery , Harvard Medical School

Dr. Veves' areas of expertise include diabetic neuropathy, diabetic foot problems, and vascular reactivity. His main academic interest is the vascular reactivity of micro- and macrocirculation and in the past two years, he has served as Director of the Microcirculation Lab, which tests microvasculature in a non-invasive way. He is also interested in the etiology of diabetic foot problems and the pathophysiology of wound healing in diabetes. Other interests include the effect of c-nociceptive fiber dysfunction of wound healing and the diabetes-related impairment of angiogenesis.

Dr. Aristidis Veves received his M.D. from the Medical School, Aristotelion / University of Thessaloniki (Greece), his M.Sc. from the Faculty of Medicine, University of Manchester (U.K.), and his D.Sc. from Athens Medical School (Greece). Dr. Veves did his internship in General Medicine at Athens Naval Hospital (Greece), and completed his residency in General Medicine at Tsaggari General District Hospital (Athens, Greece). He then served as Hon. Senior House Officer in the University Department of Medicine, Diabetes and Endocrinology at Manchester Royal Infirmary (U.K.). Following this, he was a Clinical Research Fellow in the same department. Most recently, he was a Research Fellow at Deaconess - Joslin Foot Center, Deaconess Hospital (Boston, MA).

About BioChemics, Inc.

BioChemics is a pharmaceutical company that has developed a novel, transdermal drug delivery system for the first time that allows almost any drug to be efficiently delivered through the skin. The transdermal technology, called VALE[R] (Vaso-active Lipid Encapsulated), allows a substantial portion of the pharmacopeia to be re-engineered, turning oral drugs into transdermals that are safer (no gastro-intestinal problems), cheaper and potentially faster acting (applied directly to the treated area) than oral equivalents. The company's focus is on multi-billion dollar market opportunities currently underserved by existing therapies. The company's two lead clinical products focus on treating diabetic neuropathy and osteoarthritis. Founded in 1989, the Company is headquartered in Danvers, Mass. Additional information is available at www.biochemics.com.

VALE[R] is a registered trademark of BioChemics, Inc.

1 Source: www.Nerac.com, posted 05/12/2006.