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OXIS and Majority-Held BioCheck to Begin Shipments of New Oncology Research Product for Detection of HMGA2 Protein

Posted on: Wednesday, 7 June 2006, 09:00 CDT

Potential Future Clinical Application May Allow for Earlier Detection of Aggressive Forms of Breast Cancer

OXIS International (OTCBB:OXIS) (Nouveau Marche:OXIS) (FWB:OXI) announced today that its new reagents and antibodies for the detection and measurement of the HMGA2 protein in in vitro tissue samples are now commercially available to the oncology research market. The Company previously announced the anticipated launch of these products at the 15th Annual Experimental Biology meeting in San Francisco on April 2, 2006.

OXIS International is a biopharmaceutical company focused on commercializing research assays, nutraceutical and therapeutic products related to oxidative stress and, through its majority interest in BioCheck, a leading provider of high quality immunoassay clinical kits and contract services.

There has been increased interest in the role of the High Motility Group (HMG) proteins and their role in cell growth and differentiation of tumors. The HMGA2 protein has been shown to be a promising marker for the early detection of aggressive forms of breast cancer. While this technology is currently limited to the oncology research market, its possible future clinical applications include increasing the ability of doctors to detect invasive breast cancer earlier enabling them to design the optimal course of treatment.

According to the American Cancer society, breast cancer was the second (after lung cancer) most frequently diagnosed cancer among women in the US with approximately 270,000 new cases diagnosed and over 40,000 deaths in 2005.

"We are thrilled to be able to offer cancer researchers new tools to advance their understanding of the disease and to help validate potential clinical diagnostic applications of this technology," stated Dr. John Chen, a biochemist and Founder and President of BioCheck.

"With the launch of the first HMGA2 research products we are delivering on the expected synergies from the OXIS BioCheck merger," added Steve Guillen, CEO and President of OXIS. "These products result from our core competencies of contracting with other diagnostic, biotech, and pharmaceutical companies to develop and then commercialize unique, proprietary diagnostic tools. We expect Contract Services to be one of the fastest growing areas of our combined business."

Based on JP Morgan's 2005 estimates, the early stage breast cancer detection market ranges form $325 million to $375 million and is expected to grow 8-10% driven by a growing and aging patient population, propensity for earlier and more frequent diagnostic screening and increasing cancer awareness.

The University of Medicine and Dentistry of New Jersey (UMDNJ) holds the patent for the detection method of the HMGI family of proteins as diagnostic markers for benign and malignant tumors and BioCheck retains the exclusive worldwide rights to develop and market the commercial antibodies, reagents and test kits for the detection of the family of HMGI proteins, including HMGA2.

About OXIS and BioCheck:

OXIS International, Inc. develops technologies and products to research, diagnose, treat and prevent diseases of oxidative stress associated with damage from free radical and reactive oxygen species. The company holds the rights to three therapeutic classes of compounds in the area of oxidative stress, and has focused commercialization programs in clinical cardiovascular markers, including MPO (myeloperoxidase) and GPx (glutathione peroxidase), as well as a highly potent antioxidant, Ergothioneine, that may be sold over-the-counter (OTC) as a dietary supplement. OXIS has acquired a 51% interest in and has the option to purchase the remaining 49% of BioCheck.

BioCheck, Inc. is a leading provider of high quality enzyme immunoassay research services and products including immunoassay kits for cardiac and tumor markers, infectious diseases, thyroid function, steroids, and fertility hormones. The company operates a 15,000 square-foot, U.S. Food and Drug Administration (FDA) certified cGMP, and ISO device-manufacturing facility in Foster City, California.

More information about OXIS, BioCheck and their products, services as well as current SEC filings may be obtained by visiting http://www.oxisresearch.com and http://www.biocheckinc.com.

The statements in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding our expectations, objectives, anticipations, plans, hopes, beliefs, intentions or strategies regarding the future. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties such as the acquisition of the remaining 49% of the BioCheck shares by OXIS not closing due to, among other reasons, the inability of OXIS to close a financing transaction; the risks inherent in integrating an acquired business; risks inherent in owning a majority interest in a company; unforeseen difficulties in achieving synergies following an acquisition; unforeseen difficulties related to the company's oxidative stress and other diagnostic products; the development by the company's competitors of new competing products; and other risks indicated in the company's filings with the Securities and Exchange Commission. It is important to note that actual outcomes could differ materially from those in such forward-looking statements. Readers should also refer to the documents filed by the company with the Securities and Exchange Commission, specifically the company's annual report on Form 10-KSB for year ending December 31, 2005 filed on March 31, 2006 and the first quarter 2006 report on From 10-QSB filed on May 12, 2006.

Source: Business Wire

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