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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES </strong></font></div>
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      AND EXCHANGE COMMISSION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington
      D.C., 20549 </strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>Form
      8-K</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Current
      Report</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
</strong></font></div>
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      Of Report (Date Of Earliest Event
      Reported):&#160;&#160;2/2/2006</strong></font></div>
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      International, Inc.</strong></font></div>
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      Name of Registrant as Specified in its Charter)</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DE</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
            </td>
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                or Other Jurisdiction of</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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                Employer</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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                or Organization)</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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                No.)</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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      N Cutter Circle Suite 317, Portland, OR 97217</strong></font></div>
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      the appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</strong></font></div>
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      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
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      Soliciting material pursuant to Rule 14a-12 under the Exchange
      Act(17CFR240.14a-12)</strong></font></div>
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      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
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      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
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      to
      be Included in this Report </font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01.&#160;&#160;&#160;&#160;&#160;&#160; </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
      into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OXIS
      International, Inc. (&#8220;OXIS&#8221;) entered into a one-year non-revolving loan
      agreement with an effective date of February 2, 2006 under similar terms to
      the
      KeyBank loan, described in Item 1.02 below, with Bridge Bank, N.A. (the &#8220;Bridge
      Bank Loan&#8221;). On February 7, 2006,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      OXIS
      entered into a loan agreement with Bridge Bank in the amount of </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$3,060,000
      and </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">granted
      a
      security interest to Bridge Bank in a $3,060,000 Certificate of Deposit that
      is
      owned by OXIS.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      As with
      the KeyBank Loan, the Bridge Bank Loan will bear interest at an annual rate
      that
      is 2.0% greater than the annual rate of interest on the Certificate of Deposit
      held by Bridge Bank as collateral.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">February
      7, 2006, OXIS terminated its one-year non-revolving loan agreement with KeyBank
      National Association (&#8220;KeyBank&#8221;). The original loan agreement with KeyBank dated
      December 2, 2005 involved a loan in the amount of $3,060,000 (the &#8220;KeyBank
      Loan&#8221;) which OXIS utilized to purchase fifty one percent of the outstanding
      shares of BioCheck, Inc. Under the terms of the KeyBank Loan, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">as
      security for OXIS' repayment obligations under the Loan Agreement, OXIS granted
      a security interest to KeyBank in a $3,060,000 Certificate of Deposit that
      is
      owned by OXIS. The KeyBank Loan bore interest at an annual rate that is 2.0%
      greater than the annual rate of interest on the Certificate of Deposit held
      as
      collateral. On February 7, 2006 OXIS paid off its KeyBank loan and closed its
      $3,060,000 Certificate of Deposit at KeyBank.</font></div>
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      </strong></font></div>
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      to the Requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this Report to be signed on its behalf by the Undersigned hereunto
      duly authorized. </font></div>
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      February 15, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%">&#160;</td>
            <td width="33%"><font size="2">OXIS International, Inc.</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%">&#160;</td>
            <td width="33%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%">&#160;</td>
            <td width="33%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%">&#160;</td>
            <td width="33%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%"><font size="2">By:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
            <td width="33%"><u><font size="2">/s/ Michael D.
              Centron&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
              </font></u></td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%">&#160;</td>
            <td width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Michael
                D. Centron</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="33%">&#160;</td>
            <td width="3%">&#160;</td>
            <td width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
                President &amp; Chief Financial
                Officer</font></div>
            </td>
          </tr>

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{"company-data": {"conformed-name": "OXIS INTERNATIONAL INC", "cik": "0000109657", "assigned-sic": "2834", "irs-number": "941620407", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-08092", "film-number": "06622282"}, "business-address": {"street1": "6040 N CUTTER CIRCLE STE 317", "city": "PORTLAND", "state": "OR", "zip": "97217", "phone": "5032833911"}, "mail-address": {"street1": "6040 N CUTTER CIRCLE STE 317", "city": "PORTLAND", "state": "OR", "zip": "97217"}, "former-company": [{"former-conformed-name": "DDI PHARMACEUTICALS INC", "date-changed": "19920703"}, {"former-conformed-name": "DIAGNOSTIC DATA INC /DE/", "date-changed": "19850312"}]}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington
      D.C., 20549
Form
      8-K
Current
      Report
Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
      Of Report (Date Of Earliest Event
      Reported):  2/2/2006
OXIS
      International, Inc.
(Exact
      Name of Registrant as Specified in its Charter)
Commission
      File Number:  0-8092
DE
94-1620407
(State
                or Other Jurisdiction of
(I.R.S.
                Employer
Incorporation
                or Organization)
Identification
                No.)
6040
      N Cutter Circle Suite 317, Portland, OR 97217
(Address
      of Principal Executive Offices, Including Zip Code)
503-283-3911
(Registrant's
      Telephone Number, Including Area Code)
(Former
      name or former address, if changed since last report)
Check
      the appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
[  ]  
      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
[  ]  
      Soliciting material pursuant to Rule 14a-12 under the Exchange
      Act(17CFR240.14a-12)
[  ]  
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act(17CFR240.14d-2(b))
[  ]  
      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act(17CFR240.13e-4(c))
Items
      to
      be Included in this Report
Item
      1.01.
Entry
      into a Material Definitive Agreement.
OXIS
      International, Inc. ("OXIS") entered into a one-year non-revolving loan
      agreement with an effective date of February 2, 2006 under similar terms to
      the
      KeyBank loan, described in Item 1.02 below, with Bridge Bank, N.A. (the "Bridge
      Bank Loan"). On February 7, 2006,
OXIS
      entered into a loan agreement with Bridge Bank in the amount of
$3,060,000
      and
granted
      a
      security interest to Bridge Bank in a $3,060,000 Certificate of Deposit that
      is
      owned by OXIS.
As with
      the KeyBank Loan, the Bridge Bank Loan will bear interest at an annual rate
      that
      is 2.0% greater than the annual rate of interest on the Certificate of Deposit
      held by Bridge Bank as collateral.
Item
      1.02.
Termination
      of a Material Definitive Agreement
On
February
      7, 2006, OXIS terminated its one-year non-revolving loan agreement with KeyBank
      National Association ("KeyBank"). The original loan agreement with KeyBank dated
      December 2, 2005 involved a loan in the amount of $3,060,000 (the "KeyBank
      Loan") which OXIS utilized to purchase fifty one percent of the outstanding
      shares of BioCheck, Inc. Under the terms of the KeyBank Loan,
as
      security for OXIS' repayment obligations under the Loan Agreement, OXIS granted
      a security interest to KeyBank in a $3,060,000 Certificate of Deposit that
      is
      owned by OXIS. The KeyBank Loan bore interest at an annual rate that is 2.0%
      greater than the annual rate of interest on the Certificate of Deposit held
      as
      collateral. On February 7, 2006 OXIS paid off its KeyBank loan and closed its
      $3,060,000 Certificate of Deposit at KeyBank.
Signature(s)
Pursuant
      to the Requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this Report to be signed on its behalf by the Undersigned hereunto
      duly authorized.
Dated:
      February 15, 2006
OXIS International, Inc.
By:
/s/ Michael D.
              Centron
Michael
                D. Centron
Vice
                President & Chief Financial
                Officer