BioSante Pharmaceuticals Commences Trading On the American Stock Exchange.

Business Editors/Health/Medical Writers

BIOWIRE2K

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--Oct. 1, 2003

BioSante Pharmaceuticals, Inc. (AMEX:BPA) today announced that its common stock has begun trading on the American Stock Exchange(R) ("Amex(R)") under the ticker symbol BPA.

BioSante is an emerging pharmaceutical company developing a pipeline of hormone therapy products to treat both men and women. BioSante's hormone therapy products are gel formulations for topical administration that deliver bioidentical estradiol and testosterone. Symptoms treated with hormone therapy in men include impotence, diminished sex drive, muscle weakness and osteoporosis. Symptoms in menopausal women include hot flashes, vaginal atrophy, decreased libido and osteoporosis. The estrogen and testosterone markets in the United States alone account for over $2.5 billion in annual sales. BioSante also is developing its calcium phosphate nanoparticulate-based platform technology (CAP) for novel vaccines, vaccine adjuvants and drug delivery systems. Additional information on the company is available online at www.biosantepharma.com.

"We are pleased to welcome BioSante to the American Stock Exchange," said John McGonegal, vice president of the Amex Equities Group. "We look forward to working with BioSante on their continued commitment to creating shareholder value by building upon their solid innovation within the biopharmaceutical industry."

"We are delighted with our move to the American Stock Exchange and its considerable support structure," said Stephen M. Simes, president and chief executive officer of BioSante. "We believe our American Stock Exchange listing will result in a broader base of investors and provide additional liquidity and value to BioSante's stockholders as we continue to develop new products."

BioSante will be represented by the specialist firm of Cohen Specialists LLC on the Amex trading floor.

The Amex is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 123 ETFs. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding BioSante contained in this press release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements. Forward-looking statements are based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to BioSante that could cause actual results to differ materially from those expressed in such forward-looking statements are the difficulties of small cap companies despite national stock exchange listings to expand the base of their investors and provide additional liquidity and value to BioSante's stockholders, and other factors identified and discussed from time to time in BioSante's filings with the Securities and Exchange Commission, including those factors discussed on pages 17 to 23 of BioSante's Form 10-KSB, which discussion also is incorporated herein by reference.