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January 14th, 2008

Insiders Bullish on BioSante Pharma

Over the next year and beyond, LibiGel is expected to be the key value-driver for BioSante, especially now that the Company has achieved clarity on the requirements for FDA approval and has already started the process with just one more Phase 3 efficacy trial due to commence early this year. Key Phase 3 safety data is expected in the latter half of 2009 with an anticipated NDA filing occurring in the first half of 2010 and market launch about one year later. However, shareholders are likely to realize the value of LibiGel much sooner in the form of a lucrative licensing deal or possibly even a buyout based on the product's tremendous sales potential as the first and only FDA-approved treatment for FSD in the US. Both the CEO (Stephen Simes) and the CFO (Phillip Donenberg) of the Company have a solid track record in creating and building value for shareholders with previous success at Unimed and Gynex before they were acquired by Solvay and Savient Pharma, respectively. Also, the recent insider buying suggests that executives and directors at BioSante feel the stock is currently undervalued and is an encouraging sign for investors who may have been waiting on the sidelines for an entry point.


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