BioSante Pharmaceuticals Reports on First Quarter 2009 Financial Results and Swine Flu Activity

LINCOLNSHIRE, Ill.--(Business Wire)--
BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) today announced its March 31, 2009
financial results as well as its plans to conduct additional pre-clinical
studies to confirm its vaccine adjuvant, BioVant™, can increase the efficacy of
flu vaccines, including a potential new H1N1 (swine flu) vaccine. Previously
presented BioSante data from three BioVant-adjuvanted flu vaccine pre-clinical
studies using the M1 protein, H1N1 (similar to today`s swine flu), H3N1 and H5N1
antigens showed that BioVant effectively delivered flu vaccines and
concurrently, enhanced the body`s natural immune responses to flu virus
antigens, including the potentially pandemic swine flu.

The cumulative results confirm that:

* BioVant can enhance flu-specific immunity
* BioVant/M1 Protein Flu vaccine protected 100% of the animals from lethal dose
of live H1N1 flu virus, the same structure as the current swine flu
* BioVant improves survivability when compared to the vaccine alone with or
without other adjuvants
* BioVant may allow for lower doses of flu vaccine thereby increasing the number
of doses for a given production of vaccine

"These BioVant-influenza vaccine results suggest that BioVant can increase the
efficacy of a potential adjuvant-enhanced swine flu vaccine," said Stephen M.
Simes, BioSante`s president & CEO. "BioVant also may permit a reduction in the
needed dosage of flu antigen, thereby 'stretching' limited vaccine supplies, and
administration by routes other than injection."

An adjuvant is a substance that, when added to a vaccine, enhances the vaccine's
effectiveness by enhancing the body`s immune response. In multiple studies,
BioVant has been shown to be safe and cause minimal dose-dependent inflammation
at the injection site, and has been shown both to prevent the manifestation of
allergic response, and, to effectively `switch off` established
Th2-T-cell-associated allergic reactions.

First Quarter 2009 Financial Results

BioSante incurred a net loss of approximately $4.1 million or ($0.15) per share
for the quarter ended March 31, 2009, compared to a net loss of $3.6 million or
($0.13) per share for the same period in 2008. This expected increase in net
loss was due primarily to the conduct of the three ongoing LibiGel®
(testosterone gel) Phase III clinical studies to support submission of a new
drug application (NDA) and U.S. Food and Drug Administration (FDA) approval. The
LibiGel Phase III safety and efficacy studies are being conducted under an FDA
approved SPA (special protocol assessment).

The Company`s cash and cash equivalents as of March 31, 2009 were approximately
$10.2 million, as compared to cash, cash equivalents and short-term investments
of approximately $14.8 million on December 31, 2008.

About BioSante Pharmaceuticals, Inc.

BioSante is a specialty pharmaceutical company focused on developing products
for female sexual health, menopause, contraception and male hypogonadism.
BioSante's lead products include LibiGel® (transdermal testosterone gel) in
Phase III clinical development by BioSante under a U.S. Food and Drug
Administration (FDA) SPA (Special Protocol Assessment) for the treatment of
female sexual dysfunction (FSD), and Elestrin (estradiol gel) developed through
FDA approval by BioSante, indicated for the treatment of moderate-to-severe
vasomotor symptoms associated with menopause, currently marketed in the U.S.
Also in development are Bio-T-Gel, a testosterone gel for male hypogonadism, and
an oral contraceptive in Phase II/III clinical development using BioSante
patented technology. The current market in the U.S. for estrogen and
testosterone products is approximately $2.5 billion and for oral contraceptives
approximately $3 billion. The company also is developing its calcium phosphate
technology (CaP) for novel vaccines (BioVant), drug delivery and aesthetic
medicine (BioLook). Additional information is available online at:
www.biosantepharma.com.

This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The statements regarding
BioSante contained in this news release that are not historical in nature,
particularly those that utilize terminology such as "will," "potential,"
"could," "can," "believe," "intends," "continue," "plans," "expects,"
"estimates" or comparable terminology, are forward-looking statements.
Forward-looking statements are based on current expectations and assumptions,
and entail various risks and uncertainties that could cause actual results to
differ materially from those expressed in such forward-looking statements.
Important factors known to BioSante that could cause actual results to differ
materially from those expressed in such forward-looking statements include
BioSante`s need for and ability to obtain additional financing, the difficulty
of developing pharmaceutical products, obtaining regulatory and other approvals
and achieving market acceptance; the marketing success of BioSante`s licensees
or sublicensees; the success of clinical testing, and other factors identified
and discussed from time to time in BioSante's filings with the Securities and
Exchange Commission, including those factors discussed in BioSante's most recent
annual report on Form 10-K, which discussions also are incorporated herein by
reference. All forward-looking statements speak only as of the date of this news
release. BioSante undertakes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future events
or otherwise.

McKinney/Chicago
Alan Zachary, 312-944-6784 ext. 316
azachary@mckinneychicago.com

Copyright Business Wire 2009