Bioasis Appoints Dr. Deborah A. Rathjen as Executive Chair of the Board of Directors

David M. Wurzer Appointed as Lead Director

GUILFORD, Conn.–(Business Wire)–Bioasis Technologies Inc. (TSX.V:BTI; OTCQB:BIOAF) (the “Company” or “Bioasis”), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 TM platform 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, today announced the appointment of Deborah A. Rathjen, B.Sc. (Hons), Ph.D., MAICD, FTSE, as executive chair of the Bioasis board of directors. Dr. Rathjen was appointed chair of the Bioasis board of directors in March 2018.

As a result of her appointment as executive chair, Dr. Rathjen will no longer be “independent” under applicable securities laws. Pursuant to the charter of the board, if the chair of the board is not an independent director, the board must appoint one of the remaining independent directors as lead director and David M. Wurzer has been appointed as lead director.

“I am pleased to accept the appointment as executive chair of the Bioasis board and look forward to my increased involvement with the company and working closely with Mark and his team,” said Dr. Rathjen. “I am grateful to Dave for agreeing to serve as our lead independent director and look forward to his contributions in the coming months.”

“I am thrilled for Deborah’s appointment as the executive chair of our board. Deborah is highly-qualified and her proven track record of increasing and realizing shareholder value through partnering and her expertise in CNS, oncology clinical development and strategic planning is invaluable for Bioasis as we advance our partnering objectives for the xB3 platform and our internal program xB3-001,” said Mark Day, Ph.D., director, president and chief executive officer.

Also, as a result of her appointment, Dr. Rathjen has resigned from the audit and compensation committees. Director Nancy E. Stagliano, Ph.D., has been appointed to the audit committee and director John E. Curran has been appointed to the compensation committee. The audit and compensation committees are now comprised of the following:

Audit Committee
Nancy E. Stagliano
John E. Curran
David M. Wurzer

Compensation Committee
Nancy E. Stagliano
John E. Curran
David M. Wurzer

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

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 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.

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, 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.

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.

Contacts

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