Boston Life Sciences Initiates In-house Production of Troponin With Further Improvements in Efficiency and Yield.

Business Editors and Health/Medical Writers

BOSTON--(BW HealthWire)--March 20, 2002

Production capacity able to meet all clinical trial needs;

Company requests Pre-IND meeting with FDA 

Boston Life Sciences, Inc. (NASDAQ: BLSI) announced that the Company had initiated regular production of its anti-angiogenic protein, Troponin I in its own facility in Baltimore, MD. The Company's manufacturing team is now able to produce all anticipated clinical trial material, using its internally developed proprietary manufacturing process. This in-house production should result in substantial cost and time savings. The Company is in the process of converting its GLP production facility to full GMP capability to meet FDA requirements for human-use material.

The Company also announced that it has submitted documentation and a request for a Pre-IND meeting with the FDA to discuss the Company's clinical development plans, and its proposed IND submission.

"We are pleased with the production process development progress that we have made in recent months, enabling us to control the production of Troponin ourselves" stated Marc E. Lanser, MD, and Chief Scientific Officer of BLSI. "This allows for very significant savings in production costs over the course of the clinical trials. We are now able to purify a "batch" of Troponin in 24 hours, compared to the four days required by our previous contract manufacturer. This increased efficiency has resulted in higher yield and even better biologic activity in the final product. We look forward to presenting our clinical development plans to the FDA," added Dr. Lanser.

BLSI is developing novel diagnostics and therapeutics for Parkinson's Disease (PD) and Attention Deficit Hyperactivity Disorder (ADHD) as well as treatments for cancer, autoimmune disease, and central nervous system disorders. BLSI's products in development include: ALTROPANE(TM) and FLUORATEC(TM) radioimaging agents for the diagnosis of PD and ADHD; Troponin I, a naturally-occurring anti-angiogenesis factor for the treatment of solid tumors; AF-1 and Inosine, nerve growth factors for the treatment of acute and chronic CNS disorders; novel therapies for the treatment of PD and ADHD; and transcription factors that may control the expression of molecules associated with autoimmune disease and allergies.

Statements made in this press release other than statements of historical fact represent forward-looking statements. Such statements include, without limitation, statements regarding expectations or beliefs as to future results or events, such as the expected timing and results of clinical trials, discussions with regulatory agencies, schedules of IND, NDA and all other regulatory submissions, the timing of product introductions, the possible approval of products, and the market size and possible advantages of the Company's products. All such forward-looking statements involve substantial risks and uncertainties, and actual results may vary materially from these statements. Factors that may affect future results include: the availability and adequacy of financial resources, the ability to obtain intellectual property protection, delays in the regulatory or development processes, results of scientific data from clinical trials, the outcome of discussions with potential partners, regulatory decisions, market acceptance of the Company's products, and other possible risks and uncertainties that have been noted in reports filed by the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K.