VANCOUVER, BC–(Marketwired – July 10, 2016) – biOasis Technologies Inc. (OTCQB: BIOAF) (TSX VENTURE: BTI), a pioneering biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier (BBB), announces the issuance of a US patent covering a refined subset of fragments found within Melanotransferrin or P97 for the delivery of therapeutic agents to the brain.
The U.S. Patent, No. 9,364,567, was issued on June 14, 2016 and is entitled, “Fragments of P97 and Uses Thereof.” The patent significantly broadens the biOasis Transcend Platform that was originally based on the protein known as melanotransferrin (MTf or p97). This issuance caps the long journey to firm up the company’s intellectual property and it greatly strengthens the company’s licensing model.
Commented CEO Rob Hutchison, “The biOasis business model is based on the strength of our core assets, the intellectual property that is protected by our broad patent portfolio. Over the past seven years we have been focused on one goal, conducting extensive research programs to secure patents that enable us to commercialize our Transcend technology. As part of a layered approach with our protection strategy, this patent not only broadens the prior fragment patent protection, but also deals with very broad uses for the Transcend Platform, in the fields of Oncology, Lysosomal Storage Diseases, Gene Therapy, to name a few and represents a highly significant component of our licensing business model.”
About biOasis
biOasis Technologies Inc. is a biopharmaceutical company headquartered in Richmond, B.C., 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 OTCQB 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”
Company Contact
General: 604-644-1232
biOasis Technologies Inc.
info@bioasis.ca