Bioasis Announces Allowances of Patent Applications in the U.S. and Europe Relating to xB3 Platform Technology and Key Therapeutic Indications

Bioasis Technologies Inc. (TSX.V:BTI; OTCQB:BIOAF) (the “Company” or “Bioasis”), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB^{3 TM} platform technology for the delivery of therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, today announced that the U.S. Patent and Trademark Office (“USPTO”) and the European Patent Office (“EPO”) have issued allowances of patent applications relating to xB³ technology.

Both the USPTO and EPO have issued allowances of the Company’s patent applications relating to iduronate-2-sulfatase (“IDS”) polypeptide / xB³ conjugates. The patent applications relate to the IDS/xB³ fusion conjugates as well as pharmaceutical compositions containing the fusion conjugates. The IDS/xB³ conjugates may be used in treating lysosomal storage diseases such as Hunter Syndrome.

The EPO has issued an allowance of the Company’s patent application relating to trastuzumab/xB³ fusion conjugates. The patent application relates to the trastuzumab/xB³ fusion conjugates as well as pharmaceutical compositions containing the fusion conjugates. The trastuzumab/xB³ conjugates may be used in treating a variety of diseases, for example, a HER2-overexpressing metastatic breast cancer.

“We are excited about the issuance of allowance of these patent applications by the USPTO and EPO, which enhance the strength of our intellectual property protection around our core assets, especially with respect to our lead program xB³-001, potential treatments for lysosomal storage disorders and our commercial licensing strategy,” said Company Chair and Chief Executive Officer, Deborah Rathjen, Ph.D. “These patents reaffirm the overall value of Bioasis’ xB³ platform technology as we work to advance our programs for difficult-to-treat diseases of the central nervous system by delivering therapeutics across the blood-brain barrier.”

On behalf of the Board of Directors of Bioasis Technologies Inc.

Deborah Rathjen, PhD, Director, President & Chief Executive Officer

ABOUT BIOASIS

Bioasis Technologies Inc. is a biopharmaceutical company developing the xB^{3 TM} platform, a proprietary technology for the delivery of therapeutics across the BBB and the treatment of CNS disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. The company maintains headquarters in Guilford, Conn., United States. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For more information about the company, please visit www.bioasis.us.