Vancouver, British Columbia–(Business Wire)– biOasis Technologies Inc. (TSX:V.BTI) announced today an update on the advancement of its anti-cancer product candidate BT2111. BT2111 is a brain- penetrating conjugate of trastuzumab (Herceptin®) and our Transcend vector designed to treat brain metatastsis of HER2+ breast cancer. Based on the exceptional data announced on February 7th of this year, which show both a remarkable reduction on brain tumors as well as tumor size, the company along with its expert industry advisors has now developed the road map to take this program to the next stage of preclinical development.
“Through late 2011 and through 2012 the BT2111 program has delivered tremendous results for biOasis,” says Rob Hutchison, CEO. “The news out of Texas Technical University announced on February 7th exceeded our expectations going into the program. Based on these animal efficacy studies we were then in a position to plan the balance of the pre-clinical pathway. There are a number of key studies that we will undertake as soon as possible to further evaluate and characterize BT2111 in order to position the program for out licensing to a pharmaceutical partner or for further internal pre-clinical development. This work will include additional efficacy, pharmacokinetic and safety sudies. The next efficacy study is planned and can commence shortly and we expect to see results from this work by mid to late summer.”
ABOUT BT2111 – BT2111 is a conjugate between biOasis’ Transcend brain delivery vector and trastuzumab (trade name of Herceptin®), a humanized monoclonal antibody used clinically in the treatment of HER2+ breast cancer. It is reported that up to 30% of HER2+ breast cancer patients develop brain metastasis for which therapeutic options are limited. Because of its ability to cross the blood-brain barrier, biOasis is researching the potential of BT2111 for treatment of HER2+ metastatic breast cancer in the brain.
Herceptin® is a registered trademark of Roche/Genentech.
biOasis Technologies Inc. is a biopharmaceutical company headquartered in Vancouver, Canada. Based on Transcend, biOasis proprietary brain delivery platform, the Company is focused on creating new drugs that can cross the blood-brain barrier to address unmet medical needs in the treatment of brain diseases such as neurodegeneration, metastatic cancer and metabolic diseases. biOasis trades 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: we may not be able to successfully develop and obtain regulatory approval for p97 as a Physician’s Aid to Diagnose Alzheimer’s, 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”
biOasis Technologies Inc.
On Behalf of the Board of Directors
Robin Hutchison, 778-383-3280
Chairman & CEO