updated 5/2/2011 9:16:39 AM ET 2011-05-02T13:16:39

VANCOUVER, British Columbia, May 2, 2011 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) has received further experimental results from research performed on behalf of the Company by the National Research Council of Canada ("NRC"). This work was performed for the purpose of providing independent confirmation of results generated in prior work conducted by the Company.

As reported previously, the NRC demonstrated with real-time in vivo fluorescence imaging that Transcend, the Company's proprietary drug delivery technology, is able to carry fluorescent dye molecules across the blood brain barrier. The fluorescent dye that was used in the NRC experiments is larger than typical small molecule drugs, which suggests that Transcend has the potential to transport biologics across the blood brain barrier. In recent years the pharmaceutical industry has succeeded in developing biologic therapies, but remains challenged in using these to treat brain diseases and disorders.

The follow on studies performed by the NRC allowed the visualization of the distribution of dye-labeled Transcend within the brain. Further to the observation that Transcend crossed the blood brain barrier, fluorescence microscopy studies enabled the observation that dye-labeled Transcend was distributed to neurons and astrocytes. Within these cells Transcend was localized to a variety of intracellular structures, which included lysosomes. This is further evidence that Transcend has the potential to deliver a variety of therapeutic agents of small and large molecular weight across the blood-brain barrier and into cells within the brain. For further video description of the results go to http://www.bioasis.ca/nrc/index.htm

"These results provide key information for biOasis as it begins to prioritize the selection of therapeutic agents for transport across the blood brain barrier. By enabling the transport of therapeutics into brain cells biOasis intends to provide clinicians with the ability to treat neurological conditions that have for the most part have gone untreatable," said Rob Hutchison, CEO. "To verify that Transcend has the ability to carry agents from the capillaries into brain cells is a key step in our development program. To observe that it also has the ability to be taken up into these cells is tremendous news for our Company since this suggests the ability to treat a wider range of diseases and disorders than was previously understood."

ABOUT THE BLOOD-BRAIN BARRIER

The successful transport of therapeutic agents within the brain presents a major challenge to the treatment of most brain disorders. In its neuroprotective role, the blood–brain barrier functions to hinder the delivery of many potentially efficacious diagnostic and therapeutic agents to the brain. It is widely reported that over 95% of all therapeutic agents do not cross the blood-brain barrier. The availability of an efficient method of transport for selected biological and chemical agents will enable treatment of disorders including neurodegenerative disease, cancers and infections.

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.

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
(778).383.3280
rob@bioasis.ca

"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"

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