Bioasis Announces Positive Results from a Microdialysis Study Showing Lead Investigational Candidate xB3 ™-001 Increased Brain Activity

The Company has filed a patent application based on these observations and those data may have broader applicability

RICHMOND, British Columbia & GUILFORD, Conn.–(Business Wire)– Bioasis Technologies, Inc . (TSX.V:BTI; OTCQB:BIOAF) (“Bioasis” or the “Company”), a biopharmaceutical company developing its xB3 TM proprietary platform technology for the delivery of therapeutics across the blood-brain barrier (BBB) for the treatment of CNS disorders, today announced that its lead investigational candidate xB3-001 demonstrated increased brain activity in a pre-clinical mouse microdialysis study.

Bioasis conducted the microdialysis study at Charles River Laboratories Inc. The aim of the study was to evaluate the effect of xB3-001 on cortical brain-related activity in a freely-moving in vivo mouse microdialysis study. Brain activity was assessed by examining changes on neurochemical levels induced by the Company’s lead candidate xB3-001 vs. trastuzumab alone.

The study demonstrated that following a single intravenous treatment, xB3-001 elicited significant increases in brain cortical dopamine and serotonin activity levels at 60-90 minutes after treatment. In contrast, trastuzumab alone did not lead to changes in dopamine and serotonin levels. Brain cortex norepinephrine also showed increasing trends at 60-90 minutes after treatment with xB3-001 compared to the trastuzumab control. The neurochemical changes observed with xB3-001 treatment may indicate that xB3 fusions may yield additional benefits for patients with neurodegenerative and oncological diseases.

“In addition to our recently published work with MedImmune, these new data further validated the utility of our xB3 platform technology to increase delivery of existing therapeutic compounds across the blood-brain barrier,” said Mei Mei Tian, Ph.D., vice president, head of external research. “These data strengthen our pre-clinical data set on the utility of the LRP1 receptor mechanism of action for BBB translocation and the robustness of the xB3 platform to transport large, complex biological therapies to their target in the brain.”

“We are encouraged by these preliminary data from the microdialysis study as we look to advance our xB3-001 program in HER2+ brain metastases,” said Mark Day, Ph.D., president & chief executive officer. “Robust demonstration of modulation of brain activity can be critical to the translational success for patients in clinical trials. These data continue to help us build our risk mitigation strategy and can improve our probability of success in the clinic if endpoints are congruent across animals and humans.”

The Company has filed a patent application based on the discoveries from this study.

Bioasis also advises investors that an updated version of its corporate presentation containing this information is available for review on its website at www.bioasis.us/investors.

About Bioasis

Bioasis Technologies, Inc. is a biopharmaceutical company developing the xB3 TM platform, a proprietary technology for the delivery of therapeutics across the blood-brain barrier (BBB) and the treatment of CNS disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. The company maintains headquarters in Richmond, Canada with offices in Guilford, Conn., United States. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For more information about the company, please visit www.bioasis.us.

On behalf of the Board of Directors
Bioasis Technologies Inc.
Mark Day, Ph.D., Director and President & Chief Executive Officer

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 regarding the anticipated completion of a proposed private placement, the Company’s intended use of proceeds of the private placement, along with other 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.

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Contacts

Media & Investor Relations
Bioasis Technologies Inc.
Catherine London, +1 917-763-2709
Catherine@bioasis.us