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Bioasis Announces the Grant of a Japanese Patent Application in Japan Related to the xB³ ™ Fusion Protein Comprising Iduronate-2-Sulfatase

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Bioasis Announces the Grant of a Japanese Patent Application in Japan Related to the xB³ ™ Fusion Protein Comprising Iduronate-2-Sulfatase

NEW HAVEN, Connecticut, August 9, 2021 (GLOBE NEWSWIRE) – BIOASIS TECHNOLOGIES INC. (TSXV: BTI; OTCQB: BIOAF), (the “Company” or “Bioasis”), an investigational preclinical biopharmaceutical company developing its property xB3™ technology platform to enhance the delivery of biologics across the blood-brain barrier (“BBB”) for the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, announced today that the Japanese Patent Office (“JPO”) issued Japanese Patent No. 2019-189551 Notice of Assignment for the Company’s xB3– IDS fusion proteins.

The patent refers to fusion proteins between xB from Bioasis3™ and iduronate-2-sulfatase (IDS), and compositions and methods related to their use. The claims issued from this patent cover compositions for xB3™ -IDS fusion protein and treatment of lysosomal storage disease with or at risk of developing central nervous system involvement, including Hunter syndrome (MPS II). This patent follows Australian patent application No. 2015219339 granted by the Australian patent office also related to the iduronate-2-sulfatase or IDS polypeptide.

“We are excited about the acceptance of this patent by the Japanese Patent Office. It represents an important milestone for our intellectual property protection around our core assets for delivery in the area of ​​Lysosomal Storage Disease in the important Asian market, in particular the Japanese market. In addition to patents already granted worldwide, this further strengthens and reinforces our position around our xB3™ platform technology, particularly in the area of ​​Lysosomal Storage Disease, ”said Dr. Deborah Rathjen, CEO of the Bioasis board.

On behalf of the Board of Directors of Bioasis Technologies Inc.
Deborah Rathjen, Ph.D., Executive Chairman of the Board

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About bioasis
Bioasis Technologies Inc. is a biopharmaceutical company that develops the xB3™, a proprietary technology for delivering therapeutics across the blood-brain barrier and treating CNS disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases. The delivery of therapies across the blood-brain barrier represents the final frontier in the treatment of neurological disorders. Bioasis’ internal development programs are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. For more information about the company, visit www.bioasis.us.

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 law that may not be based on historical facts in conjunction with other statements that contain the same. 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 expressed or implied by such future. -examination of statements or information. Such factors include but are not limited to our stage of development, lack of product revenue, capital requirements to additionally, the risk associated with completing clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, reliance on partner collaborations, and the prospects for negotiating additional corporate collaborations or licensing agreements and their calendar. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied in such forward-looking statements and information to differ materially from any future event or result expressed or implied in such statements and information include, but are not limited to, the risks and uncertainties that: the products we develop may not be successful in preclinical or clinical trials, or future products in our specific corporate goals; 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 agreements; we may not be able to establish marketing and launch costs for our products may be higher 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 biotech companies; and other factors as described in detail in our filings with Canadian securities regulators at www.sedar.com. Given these risks and uncertainties, you are cautioned not to improperly rely on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information are based on our current expectations and we do not undertake any obligation to review or update such forward-looking statements and information to reflect subsequent events or circumstances, except as required by law.

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.

Contacts:

Deborah Rathjen, Ph.D., Executive Chairman of the Board and Executive Director
deborah@bioasis.us
203-533-7082

Investor contact:
Graeme dick
Colwell Capital Corp.
graeme@colwellcapital.com
403-561-8989

1 Thom G, Tian MM, Hatcher JP et al. A peptide derived from melanotransferrin delivers a protein-based interleukin 1 receptor antagonist through the BBB and improves neuropathic pain in a preclinical model. J Cereb Blood Flow Metab. 2019; 39 (10): 2074-2088. doi: 10.1177 / 0271678X18772998

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