10/28/05: ULURU Formed to Develop Innovative Oral and Topical Products; Commercialization Strategy Focused on Wound Management, Burn Care and Products for Facial Restoration

Business Wire via NewsEdge Corporation:

DALLAS--(BUSINESS WIRE)--Oct. 28, 2005--ULURU INC. ("ULURU"), is an emerging pharmaceutical company focused on the development of a portfolio of innovative topical delivery technologies to provide patients and consumers with an improved clinical outcome through controlled delivery. ULURU was formed to acquire the topical assets of Access Pharmaceuticals, Inc. and subsequently merge with Oxford Ventures, Inc. (OTC bulletin board: OXFV). The companies have now entered a definitive merger agreement.

ULURU plans to establish a commercial organization to market products in niche areas including wound management, burn care and facial restoration and plans to out-license products that fall outside the strategic focus of the commercial organization. Commercial partners will be sought to market all products in international markets.

The focus of our development and commercial activities with the nanoparticle aggregate technology is in three market segments, wound management, burn care and dermal fillers for facial restoration. These markets are currently projected to exceed $3 billion and are projected to expand substantially over the next five years. The technology development focus for wound management and burn care is directed towards producing protective film barrier dressings that will release drugs including antibiotics and pain medications. Innovative products in the wound management and burn care categories which can deliver drugs and require significantly less nursing care offer exciting potential.

The dermal filler market is a rapidly expanding category where currently available products degrade in a relatively short period requiring repeat procedures. A significant opportunity exists to develop a permanent sub-dermal filler to address the deep tissue problems associated with facial restoration. Developing such a product is ULURU's focus, which presents us with a unique opportunity to lead the development of a market segment which we project will expand into a market that exceeds $500 million.

As part of the acquisition of the topical product assets of Access Pharamceuticals, Inc., the strategic partnerships associated with the acquired technologies were transferred to ULURU. An extensive network of licenses is in place to globally market our approved products, these alliances include:

Product Partner Territory ------- ------- ---------OraDisc™- Benzocaine Wyeth Consumer Healthcare North AmericaOraDisc™- Amlexanox Discus Dental United States Zambon Europe Esteve Spain, Portugal, Greece Meda AB Scandinavia ProStrakan UK Ireland EpiTan Australia / New Zealand Orient Europharma Asia

In addition ULURU's product Zindaclin, a once daily treatment for acne, has been licensed worldwide to ProStrakan. In turn, ProStrakan has established an extensive network of sub-licensees to market the product globally, including Fujisawa, for certain European markets, Pliva for the Central Eastern Europe region and numerous additional licensees for smaller territories.

The licenses currently in place provide ULURU with licensing revenue on the achievement of certain development and commercial milestones of in excess of $15 million. Additionally, ULURU will receive royalty payments in the range of 5-15% on all worldwide sales.

In addition to ULURU's current OraDisc™ products, amlexanox for the prevention and treatment of canker sores and benzocaine for oral pain, ULURU has prioritized tooth whitening, cough and cold and desensitizing teeth as the lead consumer product developments. Also, ULURU plans to develop a range of prescription products utilizing OraDisc™ as a transmucosal delivery device. Supportive cancer care products and migraine relief are the initial development focus.

Commenting on the status of the company, Kerry P. Gray President and CEO of ULURU stated, "Establishing a commercial operation centered on our innovative nanoparticle aggregate technology, which presents us with the opportunity to market numerous products to meet unmet medical needs, is an exciting opportunity. We anticipate that we will continue to expand our network of strategic partners. We are currently working with a number of major pharmaceutical companies who are evaluating our technology and conducting consumer market research. Utilizing our technology portfolio, we believe it is possible to rapidly and cost-effectively develop value-added products. Given the numerous applications of the technology, we believe that we have the opportunity to significantly increase revenue from licensing activities."

ULURU Inc. is an emerging, specialty pharmaceutical company focused on the development of a portfolio of topical delivery technologies to proved patients and consumers with an improved clinical outcome through controlled delivery utilizing its innovative transmucosal delivery system and hydrogel nanoparticle aggregate technology.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and involve risks and uncertainties, including but not limited to statements made relating to the business prospects of ULURU Inc., the potential for ULURU Inc. to secure and maintain strategic partners, licensing revenues to be received under existing agreements and development of product candidates. These statements are subject to numerous risks and uncertainties.

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