AGREEMENT



                                       AND



                             PLAN OF REORGANIZATION



                                      AMONG



                          BIO-TECHNOLOGY GENERAL CORP.,



                             MYLS ACQUISITION CORP.



                                       AND



                               MYELOS CORPORATION



                                February 21, 2001





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                                TABLE OF CONTENTS



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ARTICLE I The Merger................................................................................1



         Section 1.1       The Merger...............................................................1

         Section 1.2       Closing; Effective Time..................................................1

         Section 1.3       Effect of the Merger.....................................................2

         Section 1.4       Certificate of Incorporation; Bylaws.....................................2

         Section 1.5       Directors and Officers...................................................2

         Section 1.6       Effect on Capital Stock..................................................2

         Section 1.7       Surrender of Certificates................................................5

         Section 1.8       No Further Ownership Rights in Company Capital Stock.....................7

         Section 1.9       Lost, Stolen or Destroyed Certificates...................................8

         Section 1.10      Taking of Necessary Action; Further Action...............................8

         Section 1.11      Withholding Rights.......................................................8

         Section 1.12      Contingent Payments......................................................8

         Section 1.13      Limitation on Number of Shares of Parent Common Stock Issued............10



ARTICLE II Representations and Warranties of Company...............................................11



         Section 2.1       Organization, Standing and Power........................................11

         Section 2.2       Subsidiaries and Other Interests........................................11

         Section 2.3       Authority...............................................................11

         Section 2.4       Capital Structure.......................................................12

         Section 2.5       Financial Statements....................................................13

         Section 2.6       Absence of Certain Changes..............................................14

         Section 2.7       Absence of Undisclosed Liabilities......................................15

         Section 2.8       Litigation..............................................................16

         Section 2.9       Restrictions on Business Activities.....................................16

         Section 2.10      Intellectual Property...................................................16

         Section 2.11      Interested Party Transactions...........................................19

         Section 2.12      Minute Books............................................................19

         Section 2.13      Material Contracts......................................................19

         Section 2.14      Title to Property.......................................................20

         Section 2.15      Environmental Matters...................................................21

         Section 2.16      Taxes...................................................................22

         Section 2.17      Employee Benefit Plans..................................................24

         Section 2.18      Employee Matters........................................................26

         Section 2.19      Insurance...............................................................26

         Section 2.20      Licenses and Permits....................................................27

         Section 2.21      Compliance With Laws....................................................27

         Section 2.22      Regulatory Compliance...................................................27

         Section 2.23      Certain Business Practices..............................................28

         Section 2.24      Brokers' and Finders' Fee...............................................29

         Section 2.25      Representations Complete................................................29



ARTICLE III Representations and Warranties of Parent and Merger Sub................................29



         Section 3.1       Organization, Standing and Power........................................29

         Section 3.2       Authority...............................................................29

         Section 3.3       SEC Documents; Financial Statements.....................................30

         Section 3.4       Capital Structure.......................................................31

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         Section 3.5       Litigation..............................................................31

         Section 3.6       Absence of Certain Changes..............................................31

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