SCOTTSDALE, AZ--(MARKET WIRE)--Oct 16, 2008 -- BioPharmetics, Inc. (Other OTC:BPMT.PK - News) is pleased to announce that the Company is seeking acquisition candidates in the food science industry. The company is currently in discussions with several food-related companies and has begun its initial due diligence on each. Management's focus is to identify and enter into an agreement with the best possible acquisition candidate to complement the Company's focus.

BioPharmetics, Inc. plans to expand into the food science industry, which is the largest industry in the world, earning billions of dollars in sales annually. BioPharmetics' food scientists will specialize in the development of healthier foods and beverages by improving the variety of existing products. Food scientists analyze the structure and composition of food and the changes that occur during processing and storage. They determine how processing affects flavor, texture, appearance and nutritional value, and explore new ways to protect and stabilize food through packaging.

"We've been presented with several opportunities and are evaluating the strengths of each candidate to determine which company will fit best with the mission and vision of BioPharmetics. The food science industry is an enormous business that affects everyone. Our goal is to provide wholesome, appetizing and nutritious foods for the consumers," stated Steve Nickolas, President and CEO of BioPharmetics, Inc. No details of any acquisition candidates were provided.

About BioPharmetics, Inc.:

BioPharmetics, Inc., once funded, will operate as a manufacturer and distributor of biotechnology products and pharmaceuticals throughout the United States and the world. BioPharmetics, Inc. is also entering into the food science industry to produce healthier foods and beverages. The mission of the Company is to create foods and beverages that are lower in calories, artificial preservatives, sodium, chemical sugars and other carbohydrates that are currently in food products. BioPharmetics, Inc. stock is traded on Pink Sheets with a trading symbol of BPMT.

Safe Harbor Statement:

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

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