BiOasis Enters Agreement With National Research Council

VANCOUVER, British Columbia, Nov. 29, 2010 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) announced today that it has commenced a sponsored research agreement with the National Research Council ("NRC") of Canada.  Under the terms of the agreement, the NRC will evaluate the ability of biOasis' compounds to cross the blood-brain barrier using time-domain in vivo optical imaging.

 "This is an important step in the development of Transcend™," says CEO Rob Hutchison. "The agreement with the NRC will provide the company with demonstration of the ability of Transcend ^TM to carry a fluorescent dye that is normally excluded from the brain, across the blood-brain barrier.  This will enable its visualization and localization in brain tissue and further add to our understanding of the potential for Transcend ^TM to deliver therapeutic agents into the brain.  We anticipate that this information will be of great interest to prospective partners and licensees of biOasis' technologies."

ABOUT TRANSCEND™

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 pre-GMP production, 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.                                                                                              

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. The Company is currently developing Cognitest™, a blood test for the diagnosis of Alzheimer's disease. biOasis is also developing Transcend™, a proprietary molecular carrier intended to transport drugs across the Blood-Brain Barrier for treatment of a wide range of neurological, oncology and infectious disease applications.