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Shareholder Update - 2010 Year In Review

Stocks in this article: BTI

VANCOUVER, British Columbia, Feb. 23, 2011 (GLOBE NEWSWIRE) -- The management of biOasis Technologies Inc. (TSX-V:BTI) is pleased to provide this year in review update to highlight the corporate accomplishments made in 2010.

Highlights:

  • Significantly higher concentrations of p97 successfully transported across the Blood-Brain Barrier
  • Commercial development of Cognitestâ„¢ (Alzheimer's disease blood test) underway
  • $1,029,287 private placement completed
  • Dr. Chris Fibiger (formerly of Amgen and Eli Lilly) and David Howard (formerly of Novopharm International and current Chairman of Angiotech Pharmaceuticals Inc.) added as directors

Potential significant increase in level or concentration of therapeutics transported across BBB

2010 saw the completion of two Collaborative research programs with The University of British Columbia. Key findings emerged from both of these programs. The most exciting discovery was that the earlier observation that the amount of p97 that was transported across the Blood-Brain Barrier in an animal model was significantly underestimated. Through the use of improved techniques we have achieved a 2-3x improvement in the portion of an injected dose which is transported into the brain, increasing from 2.5% of the injected dose to as much as 7%. Key experiments demonstrated that by using species-specific forms of p97, it was possible to achieve levels exceeding 10% of the injected dose. This is a very important finding for the Company's Transcend program (the development of proprietary carriers to shuttle therapeutics across the Blood-Brain Barrier), as it indicates that we will be able to transport clinically meaningful concentrations of therapeutics across the Blood-Brain Barrier.  This has the potential of enabling the treatment of diseases of the brain that have so far gone untreated.  

Commercial development of simple blood test for Alzheimer's disease

As well in 2010, the Company's Cognitest TM program (a simple blood test for the diagnosis of Alzheimer's disease) left the research stage and the Company engaged the services of Fleet Bioprocessing (UK) to develop a commercial version of Cognitest TM. The Company expects significant advancements in this program over the coming few months. Along with the assay being developed by the Company and Fleet, the Company in collaboration with Anderson Forchung Group (Washington DC) completed the SISCAPA version of Cognitest TM. SISCAPA is based on leading edge analytical techniques and is gaining recognition within the pharmaceutical industry as a robust, accurate and sensitive method of analysis. The Company and Anderson Forchung share the observations that some of the benefits offered by this form of test will over the coming years see much greater uptake within clinical laboratories. 

In summary, 2010 saw the core research completed enabling the Company to enter its commercial development phase in 2011. 

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