Bioasis Announces Registration & Grant Notice of Patent Application in China Relating to xB3 Platform Technology for the Deli...

BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), (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 central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, today announces that the China National Intellectual Property Administration (CNIPA, formerly SIPO) issued a Notice to Undergo Registration Procedures and a Notice to Grant Patent Rights for a Chinese patent application for the Company’s platform technology.

The patent application relates to Bioasis’ P97 conjugates with therapeutic agents where P97 has the ability to transport the agent across the BBB. These conjugates include xB3-001, Bioasis’ lead product conjugate with trastuzumab in development for the treatment of HER2+ breast cancer brain metastases. The allowed claims of this patent application also cover pharmaceutical compositions containing the conjugates.

“We are excited about the allowance of this patent application by CNIPA, because this represents a major milestone for our intellectual property protection around our core assets in the largest market in Asia,” said Company Chair and Chief Executive officer Deborah Rathjen, Ph.D.

“The treatment of HER2+ breast cancer brain metastases is an area of significant unmet need which Bioasis’ platform technology for blood-brain barrier drug delivery seeks to address. Whilst trastuzumab is a very effective treatment for HER2+ breast cancer and peripheral metastases, it is not able to enter the brain without conjugation to Bioasis’ proprietary peptides. Our xB3-001 has the potential to be the next standard of care for treatment of both peripheral and CNS HER2+ breast cancer metastases,” Dr Rathjen added.

About Bioasis

Bioasis Technologies Inc. is a biopharmaceutical company developing the xB3 platform, a proprietary technology for the delivery of therapeutics across the 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 visit www.bioasis.us.

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Deborah Rathjen [e-mail] [phone]