BDSI SECURES $7 MILLION FINANCING COMMITMENT FOR DEVELOPMENT OF BEMA(TM) FENTANYL

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) (NASDAQ:BDSIW) announced today that it has entered into a clinical development and license agreement with Clinical Development Capital, LLC ("CDC") pursuant to which CDC will provide up to $7 million in funding for Phase III clinical trials relating to BDSI's BEMA(TM) Fentanyl product. BEMA(TM) Fentanyl is being targeted for use as a treatment for "breakthrough" cancer pain, meaning episodes of severe pain that "break through" the medication used to control persistent pain associated with the disease. BDSI has previously disclosed that it intends to initiate Phase III trials of BEMA(TM) Fentanyl in the second half 2005.

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