Bioasis Announces Positive Results from a Microdialysis Study Showing Lead Investigational Candidate xB3 ™-001 Increased Brain Activity

Bioasis conducted the microdialysis study at Charles River Laboratories Inc. The aim of the study was to evaluate the effect of xB³-001 on cortical brain-related activity in a freely-moving in vivo mouse microdialysis study. Brain activity was assessed by examining changes on neurochemical levels induced by the Company’s lead candidate xB³-001 vs. trastuzumab alone.

The study demonstrated that following a single intravenous treatment, xB³-001 elicited significant increases in brain cortical dopamine and serotonin activity levels at 60-90 minutes after treatment. In contrast, trastuzumab alone did not lead to changes in dopamine and serotonin levels. Brain cortex norepinephrine also showed increasing trends at 60-90 minutes after treatment with xB³-001 compared to the trastuzumab control. The neurochemical changes observed with xB³-001 treatment may indicate that xB³ fusions may yield additional benefits for patients with neurodegenerative and oncological diseases.

“In addition to our recently published work with MedImmune, these new data further validated the utility of our xB³ platform technology to increase delivery of existing therapeutic compounds across the blood-brain barrier,” said Mei Mei Tian, Ph.D., vice president, head of external research. “These data strengthen our pre-clinical data set on the utility of the LRP1 receptor mechanism of action for BBB translocation and the robustness of the xB³ platform to transport large, complex biological therapies to their target in the brain.”

“We are encouraged by these preliminary data from the microdialysis study as we look to advance our xB³-001 program in HER2+ brain metastases,” said Mark Day, Ph.D., president & chief executive officer. “Robust demonstration of modulation of brain activity can be critical to the translational success for patients in clinical trials. These data continue to help us build our risk mitigation strategy and can improve our probability of success in the clinic if endpoints are congruent across animals and humans.”

The Company has filed a patent application based on the discoveries from this study.

Bioasis also advises investors that an updated version of its corporate presentation containing this information is available for review on its website at www.bioasis.us/investors.

About Bioasis

Bioasis Technologies, Inc. is a biopharmaceutical company developing the xB^{3 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, including brain cancers and neurodegenerative diseases. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. The company maintains headquarters in Richmond, Canada with offices in Guilford, Conn., United States. 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.

On behalf of the Board of Directors
Bioasis Technologies Inc.
Mark Day, Ph.D., Director and President & Chief Executive Officer

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