BioSante Pharma Offers Merger Update: Says Significant Number of Shares Not Yet Voted

BioSante Pharmaceuticals, Inc.

today provided an update on the Company's proposed merger transaction with ANI Acquisition Company d/b/a ANI Pharmaceuticals, Inc. and reported on its cash balance as of December 31, 2012 and financial results for the year ended December 31, 2012. Merger Update The special meeting of BioSante's stockholders to vote on the proposed merger with ANI currently is scheduled to be held at 8:00 a.m., Central Time, at BioSante's corporate office located at 111 Barclay Boulevard, Lincolnshire, Illinois 60069. The required vote to approve the merger is a majority of the outstanding shares of capital stock of BioSante. As of February 28, 2013, a significant number of shares have not yet been voted. However, of those shares that have been voted, 84.2% have been voted in favor of the merger proposal and 80.6% have been voted in favor of the reverse split proposal required in order to maintain the merged company's NASDAQ Global Market listing. Each stockholder's vote is critical to the success of the merger whether the position be 100,000 shares or even 1,000 shares. BioSante encourages ALL stockholders to vote their shares promptly by calling (800) 357-9167. This call should take less than one minute. No confidential information will be required. The board of directors of BioSante unanimously recommends that stockholders vote “FOR” the adoption of the merger agreement and all related matters being submitted to a vote of BioSante stockholders.