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BioSante Pharmaceuticals And ANI Pharmaceuticals Announce Special Meetings Of Stockholders To Consider Proposed Merger

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) and ANIP Acquisition Company d/b/a ANI Pharmaceuticals, Inc. announced today that each company will hold a special meeting of its stockholders on Friday, March 15, 2013 to consider and vote on certain matters in connection with the proposed merger of BioSante and ANI pursuant to the agreement and plan of merger dated October 3, 2012.

BioSante and ANI have fixed the close of business on January 17, 2013 as the record date for the purpose of determining the stockholders who are entitled to notice of, and to vote at, their respective special meetings of stockholders. The special meeting of BioSante’s stockholders will be held at 8:00 a.m., Central Daylight Savings Time, at BioSante’s corporate office located at 111 Barclay Boulevard, Lincolnshire, Illinois 60069. The special meeting of ANI’s stockholders will be held at 9:00 a.m., Eastern Daylight Savings Time, at the offices of MVP Capital Partners located at 259 N. Radnor-Chester Road, Suite 130, Radnor, Pennsylvania 19087. BioSante and ANI stockholders are encouraged to read the definitive joint proxy statement/prospectus in its entirety as it provides, among other things, a detailed discussion of the proposed merger, the merger agreement and the process that led to the proposed merger.

In addition to the approval of BioSante’s and ANI’s stockholders, the completion of the merger is subject to other customary closing conditions.

BioSante stockholders who need assistance in voting their shares or who have questions regarding BioSante’s special meeting may contact AST Phoenix Advisors toll-free at (877) 478-5038.

BioSante also announced today that its board of directors has set the close of business on March 15, 2013, the date of the special meeting of BioSante’s stockholders, as the record date with respect to the anticipated distribution of contingent value rights (CVRs) providing payment rights arising from a future sale, transfer, license or similar transaction(s) involving BioSante’s LibiGel ® (female testosterone gel) to holders of BioSante common stock. Although BioSante’s board of directors has set the record date for such distribution, BioSante’s board of directors has not yet authorized or declared the distribution and does not intend to do so until after BioSante’s and ANI’s stockholders have approved the merger and all related matters being submitted to a vote of such stockholders. The CVR distribution will be effected immediately prior to, but contingent upon, completion of the merger.

BioSante and ANI expect to close the merger as soon as practicable following receipt of approval of the proposed merger by BioSante’s and ANI’s stockholders at their respective special meetings.

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