BTI BiOasis Technologies Inc

BIOASIS TECHNOLOGIES INC. (TSXV:BTI; OTCQB:BIOAF), (the “Company” or “Bioasis”), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3™ platform technology 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, today announced positive results from an efficacy study of a blood-brain barrier penetrant interleukin-1 receptor inhibitor in a preclinical rodent model of multiple sclerosis.

In previously published work1, a recombinant fusion protein of Bioasis’ proprietary xB3™ peptide with an interleukin-1 receptor antagonist (xB3™-IL-1RA) demonstrated efficient delivery of effective concentrations of IL-1RA to the brain eliciting analgesia in a neuropathic pain animal model. Systemic administration of IL-1RA alone did not elicit analgesia.

Since IL-1 cytokines have been implicated in many autoimmune and neuroinflammatory diseases, xB3™-IL-1RA was investigated disease in the rodent experimental allergic encephalomyelitis (EAE) model of multiple sclerosis. Multiple doses of xB3™-IL-1RA were administered during the disease induction phase, resulting in both delayed onset and overall reduced clinical symptom score in animals treated with xB3™-IL-1RA compared to control animals (p<0.016 repeated measures ANOVA).

The data from this study provides further evidence for the utility of xB3™ peptide as a platform technology for delivery of large molecule biologics across the BBB. Furthermore, this study confirms the potential applicability of xB3™-IL-1RA to the treatment of neuroinflammatory diseases such as multiple sclerosis.

“These data further confirm the ability of the xB3™ delivery platform to enhance the delivery of large molecule therapeutics into CNS compartments with demonstrated disease-relevant efficacy. We are progressing these data and believe that xB3™-IL-1RA holds promise for the treatment of a broad range of neuroinflammatory diseases,” said Dr. Deborah Rathjen, Executive Chair of the Board of Bioasis.

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

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

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About Bioasis

Bioasis Technologies Inc. is a biopharmaceutical company developing the xB3™ platform, a proprietary technology for the delivery of therapeutics across the blood brain barrier 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 blood brain barrier 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. For more information about the Company, please visit www.bioasis.us.

Forward Looking Statements

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Contacts:

Deborah Rathjen, Ph.D., Executive Chair of the Board and CEOdeborah@bioasis.us203-533-7082

Investor Contact:Graeme DickColwell Capital Corp.graeme@colwellcapital.com403-561-8989