GUILFORD, CONN., BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 TMplatform 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 that its board of directors has appointed Dr. Deborah A. Rathjen as president and chief executive officer. Dr. Rathjen, who is a member of the board of directors and has served as executive chair since December 10, 2018, replaces Dr. Mark Day, who has left the company, effective immediately.
“Deborah has significant experience in company building and financing, mergers and acquisitions, therapeutic product research and development, business development, licensing and commercialization,” said David M. Wurzer, lead independent director. “Her skills and track record, combined with her recent experience working closely with Bioasis management in her capacity as executive chair, put her in a strong position to assume leadership of company. I am delighted that Deborah has agreed to become our new CEO and look forward to continuing to work with her in this new role.”
“I am excited to assume leadership of Bioasis at this important time in the company’s development” said Dr. Rathjen. “We have made important strides in advancing thexB3 TM platform recently and I am looking forward to applying my expertise in CNS, oncology clinical development and strategic planning to continuing the company’s momentum and unlocking the value of our technology. My immediate priority is to secure additional funding for Bioasis to ensure that we have the necessary resources to continue to execute on our ongoing development and partnering initiatives.”
The Board would like to thank Dr. Mark Day for his contributions to the company over the past few years and wish him well in his future endeavours.
Bioasis also announces that it has recently granted stock options to acquire a total of 1,616,000 common shares at exercise prices ranging from $0.445 – $0.55 per share to executives of the company, with the exception of Dr. Rathjen. 95,000 of these options vest over a period of one year and the balance vest over a period of five years. All of the options have a five year term and are governed by the terms of the company’s stock option plan.
On behalf of the Board of Directors of Bioasis Technologies Inc.
Deborah Rathjen, Ph.D., Executive Chair and President & Chief Executive Officer
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. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. Bioasis’ internal pipeline programs are focused on treatments for orphan indications, including certain brain cancers, and rare diseases, including Gaucher’s Disease Type II. The company maintains headquarters in Guilford, Connecticut. 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 visitwww.bioasis.us.
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.
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