Additional Board & Leadership Team
Changes Also Announced
BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI) today
announces that Rob Hutchison, biOasis founder, former chief
executive officer and current chairman of the board of directors
(BoD), will retire as chairman and board member, effective Dec. 31,
2017. Board member Michael Hutchison will also step down from the
biOasis BoD in October 2017.
“Rob first informed me that he was ready to step down early on
in my interview process. I convinced him to stay on to help
transition the company to my leadership team and it is with a heavy
heart that we now make this announcement publicly,” said Mark Day,
Ph.D. “I am grateful for Rob’s support and guidance. He is great
person, a big thinker, an innovator and a great friend. I will miss
working with Rob.”
“Michael has kindly offered to remain on the board until a
suitable replacement candidate is identified in October,” said Dr.
Day. “I would like to take this opportunity to publicly thank
Michael for his unwavering support since I joined the company.”
The Company recently announced the nominations of three
exemplary, world-class biotech and pharmaceutical executives to the
board of directors. “Dr. Maha Radhakrishnan, Dr. Deborah Rathjen
and Dr. Nancy Stagliano are formidable executives and are 100
percent committed to actively working to help shape the company,”
said Dr. Day. “I really look forward to working with them and
learning from their experiences. I have had several conversations
with each of them regarding their participation on the BoD. They
will work to drive the company forward with the same vigor,
strategic prowess and tactical execution as they have in their
other companies. I encourage our shareholders to vote with
management in their nominations.”
“I am incredibly proud of all that we have achieved over the
past 10 years since I founded biOasis, and I have great confidence
in the future of the Company,” said Rob Hutchison. “Since my
retirement as CEO in April 2017, it has been highly gratifying to
continue to work closely with the board and new leadership team as
chairman. “I look forward to spending more quality time with my
family, and also exploring new and different opportunities. I would
like to thank each and every one of the biOasis leadership team and
our shareholders for their support. I am extremely grateful to the
previous and current employees of biOasis and I am confident that
they will continue to identify the latest cutting edge approaches
to aid the discovery and development of new breakthrough therapies
for patients suffering with currently untreatable neurological
diseases and disorders.”
Additional Leadership Changes
- Chief Scientist Dr. Reinhard Gabathuler
is no longer with the Company. Dr. Gabathuler has been great to
work with and we wish him the best in his future endeavors. Dr. Day
will serve as chief scientist, effective immediately, with support
from the newly formed scientific advisory board (SAB) and Dr. Mei
Mei Tian; Dr. Tian has been promoted to vice president of external
research;
- Warren K. Volles, Esq. from IPraxus
Legal, LLC has been retained to lead the Company’s intellectual
property strategy as well as to maintain and expand the Company’s
current IP portfolio, among other responsibilities;
- The Company is actively seeking to hire
a seasoned chief financial officer (CFO) with biopharmaceutical
experience as well as global market and capital raising
capabilities. CFO interviews are underway and an announcement is
expected in the next couple of weeks; and
- Additions to the BoD and SAB are also
pending.
The biOasis leadership team will work with the BoD and SAB to
inform, implement and oversee the Company’s licensing activities,
and improve the execution of the biOasis alliances, business
development and research and development programs. “Our leadership
team is well positioned to ensure the right fit and find ways to
leverage our institutional knowledge and experience as we look
toward new collaborations. Personally, I consider this to be
one of the most capable business and scientific teams I have ever
worked with,” said Dr. Day.
About Warren K. Volles, Esq.
Warren K. Volles, Esq., founder of IPraxus Legal, LLC. provides
businesses with alternatives for handling their intellectual
property (IP) needs. For over 25 years, Warren K. Volles, Esq. has
provided legal advice on IP matters to some of the world’s foremost
multinational companies both as corporate counsel and in private
practice. He was previously the assistant general counsel at
Bristol Myers Squibb and also was responsible for managing their IP
and conducting due diligence in licensing and mergers and
acquisitions.
Apart from his registered practice before the U.S. Patent and
Trademark Office (USPTO), Volles is admitted to practice law in the
states of Connecticut, New York and Rhode Island. Volles has
drafted and prosecuted hundreds of patent applications and has
taken cases through appeal in the U.S., Europe, Japan, China, India
and other jurisdictions. Moreover, he shares great camaraderie with
highly competent law firms across the world to ensure his Clients
have the right person for the job regardless of the issue at
hand-patent procurement, oppositions, defense, infringement and
agency interaction. Transactions involving intellectual
property-acquisitions, divestitures, licensing and collaborations –
as well as regulatory strategy and interaction with government
agencies are within Volles’ expertise. Volles is experienced at
managing large patent portfolios, attorneys, staff and systems
within an organization, and the strategic development of IP
estates, through discovery, development and commercialization of
products.
Volles earned his bachelor of science degree in chemical
engineering and material science from the University of Connecticut
and his juris doctor degree from the Pace University School of
Law.
About biOasis
biOasis Technologies Inc. is a biopharmaceutical company focused
on overcoming the limitations of therapeutic drug delivery across
the blood-brain barrier (BBB). The delivery of therapeutics across
the BBB represents the single greatest challenge in treating
neurological disorders. The company is developing and
commercializing the xB3 platform, biOasis’ proprietary blood-brain
barrier delivery technology, to address unmet medical needs in the
treatment of central nervous system diseases and disorders. The
company maintains headquarters in Vancouver, Canada with offices in
Connecticut, United States. BiOasis trades on the OTCQB under the
symbol “BIOAF” and on the TSX Venture Exchange under the symbol
“BTI.” For more information about the company please visit
www.bioasis.ca.
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: products that we develop may not
succeed in preclinical or clinical trials, 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 DirectorsDr. Mark DayPresident
& Chief Executive OfficerbiOasis Technologies, Inc.
"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."
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170918006105/en/
biOasis Technologies, Inc.Catherine London,
+1-917-763-2709Catherine@bioasis.usorGraeme Dick,
+1-403-561-8989info@bioasis.us
BiOasis Technologies (TSXV:BTI)
Historical Stock Chart
From Apr 2024 to May 2024
BiOasis Technologies (TSXV:BTI)
Historical Stock Chart
From May 2023 to May 2024