biOasis Technologies Inc.
TSX VENTURE : BTI
OTCQX : BIOAF

biOasis Technologies Inc.

April 21, 2015 17:00 ET

biOasis European Patent Granted for The Use of Transcend for the Delivery of Enzymes to Treat Lysosomal Storage Disease in The Brain

- Many Lysosomal Storage Diseases (LSDs) have or Develop Significant Central Nervous System (CNS) Involvement and Although Treatment in the Periphery (Outside the CNS) is Effective and Well Established, Because Existing Therapies Do Not Cross the Blood-Brain Barrier, CNS Mediated Symptoms Remain Untreated.

- In Animal Studies, biOasis' Transcend Platform has Been Shown to Enable LSD Therapies to Enter the Brain and Localize Within the Lysosomal Compartments Within Cells, a Key Requirement in Treating These Devastating Diseases.

- This European Patent has Been Issued and has Now Passed Through the Period of "Notice of Opposition" and Therefore has Been Fully Published. This Patent Grant Notice is from the Last of the Selected Jurisdictions in Which biOasis has Sought Such Protection.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 21, 2015) - BIOASIS TECHNOLOGIES INC. (TSX VENTURE:BTI)(OTCQX:BIOAF), a pioneering biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier (BBB), announces that the European Patent for the use of Transcend to deliver enzymes to treat Lysosomal Storage Disease to the brain has now been fully issued and has cleared the "Notice of Opposition" period.

This completes the company's goal to obtain patent protection for jurisdictions around the globe where patent protection is deemed to be necessary. The completion of the patenting process is intended to increase the overall value of the company's core technology as it relates to the interest of third parties for licensing and market protection purposes.

CEO Rob Hutchison added, "As biOasis moves aggressively forward into its commercialization phase, the issuance and clearance of patents such as this one, significantly improves the value proposition we offer to potential licensors of our proprietary Transcend Platform. Without broad patent protection, the core value of our technology would be at risk. We remain very focused and diligent to ensure our assets are well protected and this granting of this patent drives right to this point."

About Transcend

Transcend is biOasis' proprietary platform for the delivery of therapeutics across the BBB to address unmet medical needs in the treatment of metastatic brain cancers as well as neurodegenerative and metabolic diseases. The BBB represents the single greatest challenge in treating neurological disorders. The ability to effectively and safely breech the BBB offers the opportunity for biOasis to deliver therapeutics into the brain. Transcend was originally based on MTf (melanotransferrin or P97) where the full-length protein was conjugated to therapeutic molecules. Recently biOasis identified a family of peptides within MTf that facilitates receptor mediated transcytosis. The lead peptide carrier was used in the work reported above.

About biOasis

biOasis Technologies Inc. is a biopharmaceutical company headquartered in Vancouver, Canada focused on overcoming the limitations of therapeutic drug delivery across the BBB. The company is developing and commercializing a proprietary brain delivery technology to address unmet medical needs in the treatment of central nervous system disorders. biOasis trades on the OTCQX under the symbol "BIOAF" and on the TSX Venture Exchange under the symbol "BTI". For more information about the company please visit www.bioasis.ca.

Forward Looking Statements

Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.

On Behalf of the Board of Directors

Rob Hutchison, Chairman & CEO

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"

Contact Information

  • Company Contact
    biOasis Technologies Inc.
    Scientific: Dr. Reinhard Gabathuler, 1 (514) 963-6177
    General: 778-383-3280 local 101
    info@bioasis.ca
    www.bioasis.ca