BioSphere Medical Files for Public Offering of Common Stock.

Business Editors & Health/Medical Writers

ROCKLAND, Mass.--(BW HealthWire)--June 5, 2001

BioSphere Medical, Inc. (Nasdaq: BSMD), today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a public offering of 5,000,000 shares of its common stock. Of the total shares, 2,000,000 shares are expected to be issued and sold by BioSphere Medical and 3,000,000 shares are expected to be sold by a selling stockholder, Sepracor Inc. (Nasdaq: SEPR). BioSphere Medical will not receive any proceeds from the sale of shares by the selling stockholder. In addition, the underwriters have an option to purchase up to 750,000 additional shares of common stock from the selling stockholder to cover over-allotments. The offering will be managed by UBS Warburg LLC and co-managed by U.S. Bancorp Piper Jaffray Inc. and Adams, Harkness & Hill, Inc.

The Company plans to use the proceeds from the offering for the development and commercialization of existing and proposed products; expenses relating to conducting clinical trials; the enhancement of sales, marketing and manufacturing capabilities; and working capital and general corporate purposes.

A registration statement relating to the securities intended to be sold has been filed with the Securities and Exchange Commission but has not become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. When available, a preliminary prospectus relating to these securities may be obtained from UBS Warburg LLC at 299 Park Avenue, New York, New York 10171.