biOasis Technologies Inc.
TSX VENTURE : BTI

biOasis Technologies Inc.

June 26, 2008 09:30 ET

biOasis Technologies Inc.: A Unique Carrier for the Delivery of Therapeutic Compounds Beyond the Blood-Brain Barrier

SURREY, BRITISH COLUMBIA--(Marketwire - June 26, 2008) - biOasis Technologies Inc. (the "Company") (TSX VENTURE:BTI) announces that the "proof of concept" study documenting the companies innovative approach for the eradication of brain tumors and treating other diseases in the Central Nervous System (CNS) has been published by the prestigious journal PLoS ONE of the Public Library of Science. PloS ONE is an international, peer-reviewed, open-access, online publication. The paper entitled "A Unique Carrier for the Delivery of Therapeutic Compounds Beyond the Blood-Brain Barrier" was published June 25th and can be found at: http://www.plosone.org/doi/pone.0002469. Professor Wilfred A. Jefferies, working at the Michael Smith Laboratories and the Biomedical Research Centre at The University of British Columbia, led the work.

The paper is a culmination of over 10 years of research by Professor Jefferies, his research group and collaborators studying the human protein p97, also termed melanotransferrrin, an iron-transporting molecule that exhibits unique biochemical properties. Jefferies and his group at the University of British Columbia, had previously established the role of p97 as an iron transporter in the brain and this led to the discovery that p97 could effectively transverse the Blood Brain Barrier (BBB). Most therapeutic agents are blocked from entering the brain by the BBB that hampers the free distribution of drugs into the CNS. However, Professor Jefferies, who was recently appointed as Chairman of biOasis Technologies Inc.'s Scientific Advisory Board, hypothesized that p97 may be exploited to carry therapeutic agents across the BBB to the brain. The PloS ONE manuscript states, "This study provides the initial proof of concept for p97 as a carrier capable of shuttling therapeutic levels of drugs from the blood to the brain for the treatment of neurological disorders, including classes of resident and metastatic brain tumors. It may be prudent, therefore, to consider implementation of this novel delivery platform in various clinical settings for therapeutic intervention in acute and chronic neurological diseases."

"This study demonstrates the utility of p97 as a shuttling molecule for the delivery of therapeutic agents such as anti-cancer drugs such as Adriamycin(1) & Paclitaxel through the BBB to tumors in the brain. We envisage p97's use as a new platform drug delivery system for the treatment of lysosomal storage disorders such as Gaucher's and Tai-Sachs diseases as well as neurodegenerative diseases such as Alzheimers's, Parkinson's and Huntington's. Based on our secured dominant, exclusive and unique intellectual property position in this area, biOasis is creating a second division within the company to advance the therapeutic applications of the "p97 drug delivery system". We anticipate partnering with pharmaceutical companies that are developing therapeutics for neurological diseases. The new division will complement and expand our existing strengths in biomarkers for neurological diseases and we expect obvious synergies to be realized by the development of both areas, such as the use of companion biomarkers to monitor the effectiveness of therapeutic agents for the treatment of Alzheimer's and other neurological diseases." - Rob Hutchison CEO, biOasis Technologies Inc.

(1) Adriamycin® is a registered trademark of Pfizer Inc.

About biOasis

biOasis Technologies Inc. is an early stage Canadian Biotechnology company engaged in the development and commercialization of diagnostics and therapeutics related to neurological diseases. It obtained rights to the p97 intellectual property (the "IP") through its May 10, 2007 Assignment Agreement with The University of British Columbia and through a Patent Technology Interest Agreement as Amended with Dr. Wilfred Jefferies. The Company is focused on the validation and commercialization of emerging therapeutics for diseases of the CNS and on the development of biomarkers as aids to diagnose and monitor neurological diseases.

Neurological diseases are estimated to cost the US in excess of $500 Billion annually. Finding effective treatments and diagnoses are critical.

Forward Looking Statements

Statements in this document regarding future expectations, beliefs, goals, plans or prospects constitute forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. These risks include, but are not limited to, those associated with the success of research and development programs, the Company's ability to raise additional funding and the potential dilutive effects thereof, the regulatory approval process, competition, securing and maintaining corporate alliances, market acceptance of the Company's products, the strength of intellectual property, reliance on subcontractors and key personnel and other risks detailed from time-to-time in the Company's public disclosure documents and other filings with the Canadian securities regulatory authorities. Forward-looking statements are made as of the date hereof, and the Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

On Behalf of the Board of Directors

Robin Hutchison, Chairman and CEO

"The TSX Venture Exchange has neither approved nor disapproved the contents of this press release."

Contact Information

  • biOasis Technologies Inc.
    Rob Hutchison
    CEO
    (604) 644-1232
    Website: www.bioasis.ca