VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2011) - biOasis Technologies Inc. (TSX VENTURE:BTI) today announced test results from its Transcend therapeutic development program directed towards the delivery of targeted therapeutic compounds to the brain which showed that Transcend can deliver an anti-amyloid beta antibody to the brain. The work was conducted on behalf of the Company by the National Research Council of Canada (NRC). Anti-amyloid beta antibodies are currently in clinical trials for the treatment of Alzheimer's disease (AD). The passive immunization of AD patients using antibodies directed at the Aß peptide is a potential therapeutic strategy aimed at reducing amyloid plaques in the brain. The plaques, consisting of insoluble amyloid ß protein are thought to be responsible for the neuronal cell death and the associated cognitive impairment seen in AD patients. The challenge in using anti-amyloid ß antibodies (and monoclonal antibodies in general) is that these proteins penetrate the blood brain barrier poorly. Approaches that can efficiently deliver these antibodies into the brain may be the key for their use in the treatment of AD.
"There are a number of pharmaceutical companies that are in both early and late stage clinical trials studying anti-amyloid ß antibodies as potential treatments for AD. biOasis has shown over the past several months that its Transcend platform can deliver antibodies (in the case of Herceptin® and now anti-amyloid ß) across the blood-brain barrier in observed higher levels than the antibodies on their own," said Rob Hutchison, CEO. "It may well be that anti-amyloid ß antibodies can provide a treatment for AD, so long as sufficient levels of the antibody can be delivered into the brain. Our Transcend blood-brain delivery platform may play a key role in facilitating the delivery of these antibodies and potentially contribute to the development of new therapeutic approaches to treating AD."
ABOUT TRANSCEND
biOasis is developing a proprietary carrier for the transport of therapeutic and imaging agents across the blood-brain barrier - Transcend. Current initiatives within the Transcend program include production of materials for preclinical studies and conjugation to a range of small molecule and biologic therapeutics. Overcoming the difficulty of delivering therapeutic agents to specific regions of the brain presents a major challenge to treatment of most brain disorders. In its neuroprotective role, the blood–brain barrier functions to hinder the delivery of many potentially important diagnostic and therapeutic agents to the brain. Therapeutic molecules and genes that might otherwise be effective in diagnosis and therapy do not cross the BBB in adequate amounts. It is widely reported that over 95% of all Therapeutic molecules do not cross the blood-brain barrier. To address the unmet clinical need to transport drugs across the blood-brain barrier biOasis intends to license Transcend to multiple corporate partners.
ABOUT BIOASIS:
biOasis Technologies Inc. is a biopharmaceutical company engaged in the development and commercialization of products for the diagnosis and treatment of neurological diseases and disorders. Its products and technologies are intended for use within the healthcare and life science research markets. The Company is currently developing
Cognitest™, a blood test for the diagnosis of Alzheimer's disease. biOasis is also developing Transcend, a proprietary molecular carrier intended to transport drugs across the Blood-Brain Barrier for treatment of a wide range of neurological, oncological and infectious disease applications.
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: we may not be able to successfully develop and obtain regulatory approval for p97 as a Physician's Aid to Diagnose Alzheimer's, 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:
Rob Hutchison
Chairman & CEO
(778).383.3280
rob@bioasis.ca
www.bioasis.ca