VANCOUVER, British Columbia, May 21, 2009 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) is pleased to provide an update on its technologies and corporate activities. On April 7th, 2009, the Company disclosed that all 6.5 million warrants, that were part of the private placement completed in March, 2008 were exercised, along with 900,000 broker warrants, providing the Company with an additional $1.7 million in cash as of March 31, 2009; in addition the Company recently announced a private placement of up to $500,000. These funds are earmarked for several development projects and work towards submission to the Regulatory Authorities of a blood test as a Physicians Aid to Diagnose Alzheimer’s disease. In this regard, the Company just announced a Collaborative Research Agreement with The University of British Columbia. Also as part of its diagnostic development strategy, in November of 2008 the Company announced that it had engaged Anderson Forchung LLC (Washington, DC) to develop a SISCAPA immuno-mass spectrometry assay and that work is proceeding on schedule. To date biOasis has had some discussions with respect to licensing the diagnostic test, but this process is dependent on our submission to the Regulatory Authorities and subsequent approval.
