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                                                                      Exhibit 99


BioSphere Medical Announces Litigation Settlement

In Conjunction  with Agreement with Artes Medical USA to Settle Their Respective
Lawsuits  Regarding  Alleged Patent  Infringement,  Biosphere Medical and Inamed
Agree to Discontinue Supply Agreement

ROCKLAND,   Mass.--(BUSINESS  WIRE)--May  22,  2001--  BioSphere  Medical,  Inc.
(Nasdaq: BSMD - news), and its subsidiary,  BSMD Ventures, Inc., today announced
a settlement agreement with Artes Medical USA, Inc. to conclude their respective
lawsuits  regarding  alleged patent  infringement.  The companies had each filed
lawsuits in early  February  regarding  United States Patent No.  5,344,452.  In
conjunction with this agreement,  BioSphere  Medical also announced an agreement
to immediately end its supply agreement with Inamed Corporation (Nasdaq:  IMDC -
news).  As announced in January,  BioSphere  Medical had agreed to supply Inamed
with microspheres for possible use in dermal augmentation applications.

"We are very  pleased  to have  resolved  these  issues so  quickly,"  said John
Carnuccio,  BioSphere Medical's president and chief executive officer. "Needless
to say,  we are also  pleased to be putting  the  distractions  of the  lawsuits
behind us and to be  refocusing  our efforts  toward  implementing  our business
strategies.  These agreements do not affect our current  financial  guidance for
BioSphere  Medical,  and we  plan  to  continue  our  efforts  to  leverage  our
microsphere  technology  into  non-embolotherapy   markets."  According  to  the
agreement  with Artes,  the  companies  will jointly move to dismiss the pending
cases; BioSphere Medical will obtain rights to the Artes patent and pay Artes an
undisclosed sum. Under the other  agreement,  Inamed will pay an undisclosed sum
to  BioSphere  Medical to fulfill its current  obligations  and will be released
from all future obligations under the supply agreement.

About BioSphere Medical, Inc.

BioSphere Medical, Inc., based in Rockland,  Massachusetts,  is a medical device
company  focused  on  embolotherapy,   the  treatment  of  tumors  and  vascular
malformations by occluding their blood supply. The Company is pioneering the use
of  patented  and  proprietary  bioengineered  microspheres  as a new  class  of
embolics. Cautionary Statement Regarding Forward-Looking Statements - This press
release contains  forward-looking  statements  within the meaning of the Private
Securities  Litigation  Reform Act of 1995. The Company's words such as "plans,"
"seeks," "projects," "believes," "may," "anticipates,"  "estimates," and similar
expressions  identify these  forward-looking  statements.  These  statements are
subject to risks and  uncertainties and are based upon the Company's beliefs and
assumptions. These forward-looking statements include the Company's expectations
regarding the Company's  ability to  commercialize  its products for an array of
embolotherapy and non-embolotherapy  applications, the ability of the Company to
sign strategic  partners and  commercialize  microspheres for  non-embolotherapy
applications,  and the market  penetration  of the Company's  embolotherapy  and
non-embolotherapy  products.  There are a number of  important  factors that may
affect the  Company's  actual  performance  and results and the  accuracy of its
forward-looking  statements,  many of which are beyond the Company's control and
are difficult to predict.  These important factors include,  without limitation,
risks  relating to the  failure of the Company to achieve or maintain  necessary
regulatory  approvals,  either in the  United  States or  internationally,  with
respect to the manufacture and sale of its products; to successfully develop and
commercialize the Embosphere(R)  Microspheres and HepaSphere SAP(TM) Microsphere
technologies for uterine fibroid  embolization,  targeted liver embolization and
other applications;  to provide patent and other proprietary  protection for the
Company's  products;  the  absence of or delays and  cancellations  of,  product
orders;  the delay in the introduction of new products;  competitive  pressures;
the  inability  of  the  Company  to  raise  additional  funds  to  finance  the
development,  marketing and sales of its products;  general economic conditions;
as well as those risk factors  detailed in the  Company's  Annual Report on Form
10-K for the  year  ended  December  31,  2000  filed  by the  Company  with the
Securities and Exchange Commission.

Contact:
     BioSphere Medical, Inc.
     Robert Palladino
     781.681.7925


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