11/16/05: ULURU Receives First U.S. Army SBIR Funding; Partnered with University of Texas Southwestern Medical Center to Develop Nanoparticle Aggregate Technology

DALLAS--(BUSINESS WIRE)--Nov. 16, 2005--ULURU INC. ("ULURU") who has signed a definitive merger agreement with Oxford Ventures, Inc. (OTC Bulletin Board: OXFV) today announced the receipt of funding for a Department of Defense SBIR Phase I Grant award.

The U.S. Army SBIR Program awarded to ULURU funding for the proposal titled, "Chemical Casualty Care: Hydrogel Nanoparticle Aggregates as Wound Dressings Following Debridement of Cutaneous Vesicant Injuries." The Phase I SBIR Proposal has a period of performance of six months from November 14, 2005 to June 13, 2006.

ULURU is partnered with the Department of Plastic Surgery at the University of Texas Southwestern Medical School (UTSW) in Dallas. UTSW will provide preclinical and clinical direction in the development of this platform nanoparticle aggregate technology as a standard of care for chemically burned tissue regeneration. The objective of the Phase I proposal is to achieve an optimal nanoparticle aggregate wound dressing design based on in vitro and in vivo proof-of-concept experiments. We believe that our relationship with UTSW maximizes the potential for advantages of this technology to be translated into clinical benefits through the design and testing of our technology in appropriate wound healing models. These studies will compare the nanoparticle aggregate system with standard dressings. Commenting on the SBIR award and relationship between UTSW and Uluru, Spencer Brown, PhD, Director of Research, Nancy Lee & Perry Bass Advanced Wound Healing Laboratory in the Department of Plastic Surgery at UTSW states that, "This award provides for the development of a new generation of wound dressings using Uluru's novel, platform technology. The materials that provide the best care for surgical patients will be identified through an advanced, evidence-based process."

In conjunction with UTSW, ULURU has initiated in vivo studies in a burn-healing model and these data will form the basis for a $1 million fast-track Phase II SBIR Grant proposal to clinically develop and demonstrate the efficacy of a wound dressing. Phase II funding will therefore involve extensive human clinical trials under the guidance of the Department of Plastic Surgery at UTSW Medical School.

Commenting on the UTSW relationship Kerry P. Gray, President and CEO of ULURU stated, "We are delighted to be collaborating with the UTSW Department of Plastic Surgery, which is one of the premier groups in this field in the United States. We believe that utilizing their capabilities significantly enhances the potential for the development of products utilizing our nanoparticle aggregate technology in burn care, wound management and as dermal fillers."

ULURU Inc. is an emerging specialty pharmaceutical company focused on the development of a portfolio of topical delivery technologies to provide patients and consumers improved clinical outcomes 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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