biOasis Technologies Inc.

October 17, 2011 09:00 ET
biOasis Receives Final Results from BC Cancer Research Centre-Herceptin® Studies

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2011) - biOasis Technologies Inc. (TSX VENTURE:BTI) announced today the results from two additional studies conducted by the BC Cancer Research Centre (BCCRC). The additional studies confirmed and extended earlier data showing that BT2111, a conjugate made up of biOasis Transcend vector and trastuzumab (trade name Herceptin®), a humanized monoclonal antibody used clinically in the treatment of HER2+ breast cancer, shows a markedly increased ability to kill a HER2+ breast cancer cell line when compared to trastuzumab alone.

"The initial pilot BT2111 study results from BCCRC were very compelling and this prompted us to conduct additional work to confirm those initial findings," said Rob Hutchison, CEO. "As further support we also undertook preliminary confocal imaging at the James Hogg Research Centre of brain sections taken from animals that were administered BT2111 intravenously. This final BCCRC data of BT2111 activity against breast cancer cells along with the 3D confocal images which confirmed the presence of BT2111 in brain cells, gives us additional confidence in moving the BT2111 program forward to treat breast cancer metastases in the brain."

Herceptin® is the registered trade mark of Genentech, Inc.

ABOUT BT2111

BT2111 is a conjugate between biOasis' Transcend brain delivery vector and trastuzumab (trade name Herceptin®), a humanized monoclonal antibody used clinically in the treatment of HER2+ breast cancer. Because of its ability to cross the blood-brain barrier and enter the tissues of the brain biOasis is studying BT2111 as a possible approach to treating HER2+ metastatic breast cancer in the brain. It is reported that up to 30% of HER2+ breast cancer patients end up developing brain metastasis.

ABOUT BIOASIS:

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. Its products and technologies are intended for use within the healthcare and life science research markets. biOasis is developing a proprietary carrier 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 to a range of small molecule and biologic therapeutics. To address the unmet clinical need to transport drugs across the blood brain barrier biOasis intends to license Transcend to multiple corporate partners.

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.

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."
Contact Information

    *

      biOasis Technologies Inc.
      Rob Hutchison
      Chairman & CEO
      (778).383.3280
      rob@bioasis.ca
      www.bioasis.com