$OXIS Announces Appointment of James L. Nelson to Board

James L. Nelson has served as a director and member of the audit committee of Icahn Enterprises L.P. (IEP) and its general partner, Icahn Enterprises G.P., Inc., since June 2001. Since June 2011, Mr. Nelson has served as a director and member of the compensation, governance and strategic alternatives committees of Voltari Corporation and, since January 2012, Chairman of its Board of Directors. Since April 2014, Mr. Nelson has served as a director and member of the audit committee, of Herbalife Ltd. (HLF), a nutrition company.

Mr. Nelson has previously served as a director and member of the audit committee of Tropicana Entertainment, The Viskase Companies, Inc., American Entertainment Properties, Atlantic Coast Entertainment Holdings, Inc., Cequel Communications, an owner and operator of a large cable television system, Take Two Interactive Software, Inc., a publisher, developer, and distributor of video games.

Mr. Nelson was Chairman and Chief Executive Officer of Eaglescliff Corporation, a specialty investment banking, consulting and wealth management company from 1986 through 2009. From 1995 through 1999, Mr. Nelson was Chief Executive Officer and Co-Chairman of Orbitex Management, Inc., a financial services company in the mutual fund sector.

“We are honored to have Jim as a member of our Business Advisory Board. Jim brings a wealth of experience and will help guide us while we complete the final requirements in our plans for up-listing to NASDAQ’s main exchange,” said Anthony Cataldo.

“I’m extremely pleased to be joining the Advisory Board of Oxis, and I look forward to being part of this exciting and socially rewarding industry,” said Mr. Nelson.

About Oxis Biotech – Oxis Biotech develops innovative drugs focused on the treatment of cancer and other unmet medical needs. OXIS’ lead drug candidate, DT2219ARL is a novel bispecific scFv recombinant fusion protein-drug conjugate composed of the variable regions of the heavy and light chains of anti-CD19 and anti-CD22 antibodies and a modified form of diphtheria toxin as its cytotoxic drug payload. DT2219ARL simultaneously targets cancer cells expressing the CD19 receptor or CD22 receptor or both receptors. When DT2219ARL binds to cancer cells, the cancer cells internalize DT2219ARL and are killed due to the action of drug’s cytotoxic payload. DT2219ARL has demonstrated success in early human clinical trials in patients with relapsed/refractory B-cell lymphoma or leukemia. OXS-4235 is a small molecule therapeutic candidate targeting the treatment of multiple myeloma and associated osteolytic lesions. In in vitro and in vivo models of multiple myeloma and osteoporosis, OXS-4235 demonstrated the ability to kill multiple myeloma cells, and decrease osteolytic lesions in bone. OXIS’ lead drug candidate, OXS-2175, is a small molecule therapeutic candidate targeting the treatment of triple-negative breast cancer (TNBC). In in vitro and in vivo models of TNBC, OXS-2175 demonstrated the ability to inhibit metastasis. For more information about Oxis Biotech, please visithttps://www.oxis.com.

Forward-Looking Statements – Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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