Biovista Announces Research Collaboration With a Major Pharmaceutical Company

CHARLOTTESVILLE, Virginia, April 27, 2011 - Biovista announced today that it has entered into a research
collaboration agreement with Novartis. The collaboration is focused on
identifying new indications for a number of undisclosed Novartis compounds
using Biovista's Clinical Outcome Search Space (COSS) technology.

The terms of the agreement include an upfront payment and success-based
milestones.

"We look forward to working with Novartis to enhance their drug discovery
efforts" said Aris Persidis, President of Biovista. "Our unique COSS(tm)
technology offers significant advantages in terms of speed, comprehensiveness
and depth of clinical outcome exploration, which we expect will help patients
in need of novel solutions," he added.

About Biovista:

Biovista is a privately held biotechnology company that finds novel uses
for existing drugs, and profiles their side effects using their mechanism of
action. Biovista is developing its own drug pipeline in multiple indications
and is collaborating with the FDA on the prediction of adverse events, as
well as with biopharmaceutical companies on indication expansion and
de-risking of their portfolios (www.biovista.com).

    For further information please contact:

    Aris Persidis
    Biovista, Inc.
    arisp@biovista.com
    +1-434-242-6514

.