VANCOUVER, BC–(Business Wire)– Bioasis Technologies, Inc. (OTCQB:BIOAF; TSX.V:BTI) announced today it has engaged FreeMind Group to assist the Company pursue non-dilutive funding opportunities globally.
The biOasis Transcend technology has been demonstrated to transport several different drug modalities (e.g., antibodies, enzymes, small molecules) across the blood-brain barrier (BBB) and into the central nervous system (CNS). The value in Transcend is the potential to turn non-brain-penetrant drugs into novel medical entities, to deliver them to the brain and to treat a range of disorders (e.g., oncology, lysosomal disorders and neurodegenerative diseases). Therefore, Transcend has the potential to treat more than one hundred identified brain and other CNS disorders.
Non-dilutive funding is available for many of these disorders from multiple government and private sources. FreeMind Group has the expertise to identify these funding sources and to assist biOasis throughout the funding process, from the preparation and submission of funding applications to pre-award negotiations.
“As we advance our internal programs, it is important to continue to drive new scientific discoveries and understand which diseases the Transcend platform may best serve. To this end, Freemind is an important strategic addition to our armamentarium. Dr. Reinhard Gabathuler, chief scientist, biOasis, will manage this collaboration,” said Dr. Mark Day, chief executive officer.
“FreeMind can play an important dual role for us, both protecting shareholder value and helping biOasis identify potential diseases and translational endpoints of interest,” said Dr. Day. “Much of the work we will conduct fits well within the mandate of many organizations that provide this type of non-dilutive funding. FreeMind has a strong track record and is highly regarded by academia, industry, and the funding organizations. This should provide biOasis with greater opportunities for success in the grant funding process.”
Established in 1999, FreeMind is the largest consulting group of its kind working with academics and industry alike. FreeMind assists in maximizing potential to receive funding from non-dilutive sources such as the NIH, DOD, NSF, FDA, BARDA, as well as private foundations. FreeMind assists in the guiding of non-dilutive funding efforts from identification of the most suitable opportunity through to submission and subsequent award. FreeMind has garnered its clients over $1.5 billion to date. Awards range from $150,000 to $150million per project.
Transcend is biOasis’ proprietary platform for the delivery of therapeutics across the blood-brain barrier to address unmet medical needs in the treatment of metastatic brain cancers as well as neurodegenerative and metabolic diseases. The delivery of therapeutics across the blood-brain barrier represents the single greatest challenge in treating neurological disorders. The ability to effectively and safely transverse the blood-brain barrier with the Transcend peptide carrier, MTfp, offers the opportunity for biOasis to deliver therapeutics into the brain at doses sufficient to have a therapeutic effect.
biOasis Technologies Inc. is a biopharmaceutical company headquartered in the Vancouver, Canada area, focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier (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
Dr. Mark Day, 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.”
biOasis Technologies Inc.
Graeme Dick, 1 403-561-8989