VANCOUVER, British Columbia, Dec. 15, 2010 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) has received the final report detailing results achieved within the Contract Research Agreement (CRA) project with The University of British Columbia (UBC) that was announced by the Company on May 19 th, 2009. The purpose of this agreement was to generate additional knowledge and data related to the utility of p97 as a proprietary biomarker for Alzheimer's disease (AD). Previous works by UBC and others showed that serum p97 levels are elevated in Alzheimer's disease patients when compared to unaffected individuals and patients with other CNS neuropathies.

The latest results generated by UBC confirm that p97 can be detected in blood over a range of concentrations that span both affected and unaffected patients. These data also provide additional information on experimental conditions and raw materials that may prove useful in helping to optimize the Cognitest™ product.

"These results provide valuable information concerning the basic characteristics and utility of p97 as a biomarker for Alzheimer's disease. They support our ongoing development work with Fleet Bioprocessing Ltd. to advance Cognitest™ towards the clinic," said Rob Hutchison, CEO. "The development team is achieving good results and we expect to begin validation of Cognitest™ prototypes using clinical samples early in the New Year."

The report concludes the second of two CRA's established with UBC in 2008 and 2009 that were intended to provide additional insights into biOasis technology. Receipt of the final report for the CRA that focused on blood-brain barrier research, indicated that experimental results conducted at UBC showed that Transcend™ has the ability to transport twice the concentration of drug across the blood brain barrier than was previously reported. This is highly important to the Company as it provides more evidence supporting the continuing development of Transcend™ as a novel delivery system capable of transporting a wide range of therapeutic agents across the blood-brain barrier.

ABOUT COGNITEST™

biOasis is developing a proprietary diagnostic for the diagnosis of Alzheimer's disease - Cognitest™. Current initiatives within the Cognitest™ program include product and method development, validation using human samples, and regulatory approval in Europe. To enable faster adoption and greater use of Cognitest™ the Company intends to out license it to multiple corporate partners.                                                                     

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 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.     

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, oncological and infectious disease applications.