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Boston Life Sciences Reports New Option Grants Under NASDAQ Market Rule 4350

Published: Apr 17, 2007

HOPKINTON, Mass., April 17 /PRNewswire-FirstCall/ -- Boston Life Sciences, Inc. announces, in accordance with NASDAQ Marketplace Rule 4350, as amended, it granted inducement stock options in connection with the commencement of employment of Frank Bobe. These options were granted without stockholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) under the following terms: 300,000 non-qualified stock options to Frank Bobe with an exercise price equal to $2.94, having a ten year duration and vesting as to one-third immediately and the remaining two-thirds vesting ratably over the next 36 months.

About Boston Life Sciences, Inc.

Boston Life Sciences, Inc. (BLSI) is engaged in the research and clinical development of diagnostic and therapeutic products for central nervous system (CNS) disorders. ALTROPANE(R) molecular imaging agent is in Phase III clinical trials for the diagnosis of Parkinson's Disease (PD) and Phase II clinical trials for the diagnosis of Attention Deficit Hyperactivity Disorder (ADHD). Cethrin(R), a recombinant-protein-based drug designed to promote nerve repair after acute spinal cord injury, has reported positive interim results in a Phase I/IIa clinical trial. The company's research and pre-clinical CNS programs include Inosine for the treatment of spinal cord injury and stroke, a DAT blocker for the treatment of Parkinson's disease, and a second generation technetium-based molecular imaging agent for PD and ADHD. BLSI's current research collaborations include Harvard Medical School and Children's Hospital Boston.

Safe Harbor

The foregoing release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements regarding Boston Life Sciences' future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including the Company's licensing arrangement with BioAxone, including the development and commercialization of Cethrin, the prospects of the Company's CNS therapeutics program, the Company's strategies to develop and commercialize axon regeneration technologies and the breadth of the Company's technologies and intellectual property portfolio. Forward- looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's Annual Report on Form 10-K for the year ended December 31, 2006 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, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Boston Life Sciences is providing the information in this press release as of this date and assumes no obligations to update the information in this press release.

BLSI Contacts: Sharon Correia 508-497-2360 ext. 224 scorreia@bostonlifesciences.com

Boston Life Sciences, Inc.

CONTACT: Sharon Correia of Boston Life Sciences, Inc., +1-508-497-2360Ext. 224, scorreia@bostonlifesciences.com

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