Orcrist Bio Inc.

Calgary, Alberta, May 9, 2008 – Orcrist Bio Inc. today announced that it has entered into a Royalty and Assignment Agreement with BioMS Medical Corp (TSX:MS) for HYC750, a technology based on hyaluronic acid that has a number of potential therapeutic uses and is being developed as a treatment for the side effects of chemotherapy.

BioMS held an exclusive worldwide license to HYC750 from the University of Alberta. As a result of the Royalty and Assignment Agreement, BioMS has terminated its license with the University of Alberta and the University has entered into a direct license with Orcrist. BioMS will assign all BioMS owned patents relating to HYC750 and transfer all HYC750 assets to Orcrist. Under the terms of the agreement, BioMS will receive certain milestone payments in addition to a royalty on net sales of products which otherwise would have infringed on patents related to the HYC750 technology.

“This asset purchase from BioMS and the exclusive worldwide license with the University of Alberta for the HYC750 technology and product, provides Orcrist with a near clinical stage asset. We are excited about the progress BioMS has made with this product and look forward to advancing it into the clinic and positioning it for lucrative markets and underserved clinical indications”, commented Orcrist’s President and CEO, Mr. Gary Voncina.

“Our primary focus remains on advancing our lead drug, MBP8298 for the treatment of multiple sclerosis,” said Kevin Giese, President and CEO of BioMS Medical. “Through these transactions, we can maintain this focus, leveraging the resources and expertise of other parties to advance these highly promising products while retaining access to the potential value they could hold. Further, we appreciate the assistance and efforts of the University and TEC Edmonton, culminating in this agreement with Orcrist”.

Full press release.

About Orcrist Bio. Inc.

Orcrist Bio Inc. ( http://www.orcristbio.com ) is a biotechnology company dedicated to developing and commercializing promising therapeutics for areas in which a clear market opportunity exists. Orcrist’s lead program revolves around HYC750, a novel stem cell mobilizer compound that promotes the egress of stem cells and other blood cells from the bone marrow into the blood, from which they can be harvested and applied toward treating chemotherapy-related white blood cell depletion. Orcrist is actively looking to add to its pipeline exploring the innate properties of HYC750 and its effects on stem cells, as well as through in-licensing opportunities of other products with clear market potential. Orcrist is located in Calgary, Alberta. The company is financed by its founders, and by private investors.

About BioMS Medical Corp.

BioMS Medical is a biotechnology company engaged in the development and commercialization of novel therapeutic technologies. BioMS Medical’s lead technology, MBP8298, is for the treatment of multiple sclerosis and is being evaluated in two pivotal phase III clinical trials for secondary progressive MS patients, MAESTRO-01 in Canada and Europe and MAESTRO-03 in the United States. It additionally is being evaluated for relapsing remitting MS patients in a Phase II trial in Europe entitled MINDSET-01. In December 2007, BioMS entered into a licensing and development agreement granting Eli Lilly and Company exclusive worldwide rights to MBP8298 in exchange for an $87 million upfront payment, milestone payments and escalating royalties on sales. For further information please visit our website at www.biomsmedical.com.

About TEC Edmonton

TEC Edmonton is a not-for-profit agency that helps inventors, entrepreneurs, companies and investors access expertise, facilities, management and financing to succeed in technology ventures. TEC Edmonton is a joint venture of the University of Alberta and the Edmonton Economic Development Corporation (EEDC). For further information please visit http://www.uofaweb.ualberta.ca/tecedmonton/index.cfm