Boston Life Sciences Takes Steps to Further Its Focus On Neurology.

BOSTON -- Company Terminates R&D agreement with FluoroPharma, Inc.

Boston Life Sciences, Inc. (NASDAQ: BLSI), a development stage biotechnology company, today announced that it has reached an agreement with FluoroPharma, Inc. to terminate a development agreement related to FluoroPharma's Positron Emission Tomography (PET) imaging agents. FluoroPharma is an emerging diagnostic discovery company with proprietary PET technology focused primarily on the diagnosis of cardiovascular disease. In 2004, FluoroPharma agreed to grant BLSI a right of participation in the event that FluoroPharma pursued a development and/or sublicensing agreement for its imaging agents with an established biotechnology or pharmaceutical company. BLSI is primarily focused on developing products for the diagnosis and treatment of central nervous system diseases. Cardiovascular imaging is not one of the Company's current strategic areas of focus, and therefore, BLSI has agreed to terminate its right of participation in exchange for 25,000 shares of FluoroPharma Series A Preferred stock. The Company's arrangements with FluoroPharma bear no relationship to BLSI's own imaging products in development, ALTROPANE(R) and FLUORATEC(TM), for which BLSI has, and will continue to have, exclusive rights.

Mark Pykett, BLSI's President and COO, commented, "This transaction continues our efforts to focus on the further growth of our CNS therapeutic product pipeline and in particular the completion of our Phase III trial for ALTROPANE, a nuclear imaging agent for the diagnosis of Parkinson's disease."

As previously announced, effective June 11, 2005, Marc Lanser, BLSI's Chief Medical Officer, left the company to become FluoroPharma's President and CEO.

Boston Life Sciences, Inc. (BLSI) is a biotechnology company primarily focused in the research and clinical development of biopharmaceutical products for the diagnosis and treatment of central nervous system, or CNS, diseases.

Statements in this press release regarding management's future expectations, beliefs, goals, plans or prospects may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in the Company's Quarterly Report on form 10-Q for the quarter ended March 31, 2005, filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Boston Life Sciences from time to time with the Securities and Exchange Commission. As a result of such risks, the Company's actual results may differ materially from the results discussed in or implied by the forward-looking statements contained herein. Forward-looking statements include statements regarding Boston Life Sciences' expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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