NCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2012) - biOasis Technologies Inc. (TSX VENTURE:BTI.V - News) today announces positive test results from its Transcend therapeutic BT2111 development program directed towards the delivery of the therapeutic monoclonal antibody Herceptin(R) to the brain. An ADCC (antibody dependent cell-mediated cytotoxicity) assay showed that BT2111 conjugates retained Fc receptor binding activity and mediated human immune cell killing of HER2+ breast cancer cell line. The ADCC assay is used to measure the human immune system activity directed against Herceptin(R) bound to HER2+ cancer cells and is considered a good predictor of anti cancer activity. This positive ADCC activity complements previous results, obtained by the British Columbia Cancer Agency, which showed that BT2111 is able to bind to HER2+ cancer cells and kill them.
"The BT2111-Herceptin(R) program is advancing exceptionally well," said Rob Hutchison, CEO. "Herceptin(R) is known to have two types of activity against HER2+ breast cancer cells. We showed through the work performed at the British Columbia Cancer Agency that BT2111 was very effective in killing HER2+ cancer cells directly through HER2+ binding. Now, the ADCC assay confirms that the BT2111 conjugate functions to induce cell mediated cytotoxic activity against HER2+ cancer cells by facilitating the binding of human natural killer cells to HER2+ breast cancer cells. The ADCC assay results provides us with further confidence to advance the BT2111 program."
(i)Herceptin(R) is the registered trademark of Genentech, Inc.
ABOUT TRANSCEND & BT2111
biOasis is developing a proprietary vector for the transport of therapeutic and imaging agents across the blood-brain barrier - Transcend. Current initiatives within the Transcend program include production of materials for preclinical studies and conjugation of Transcend to a range of small molecule and large molecule biologic therapeutics, including monoclonal antibodies. The BT2111 program involves conjugation of the therapeutic monoclonal antibody Herceptin(R) to Transcend as a potential treatment for HER2+ brain metastases.
Overcoming the difficulty of delivering therapeutic agents to specific regions of the brain presents a major challenge to treatment of most brain disorders. In its neuroprotective role, the blood-brain barrier functions to hinder the delivery of many potentially important diagnostic and therapeutic agents to the brain. Therapeutic molecules and genes that might otherwise be effective in diagnosis and therapy do not cross the BBB in adequate amounts. It is widely reported that over 95% of all potential therapeutic molecules do not cross the blood-brain barrier. To address the unmet clinical need to transport drugs across the blood brain barrier biOasis intends to license Transcend to multiple corporate partners.
biOasis Technologies Inc. is a biopharmaceutical company engaged in the development and commercialization of products for the diagnosis and treatment of neurological diseases and disorders.
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 Transcend, 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
Rob Hutchison, Chairman & 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.
Chairman & CEO