GlobeNewswire Inc | Jan 22, 2021 09:19AM EST

January 22, 2021

GUILFORD, Conn., Jan. 22, 2021 (GLOBE NEWSWIRE) -- BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 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 it has granted stock options to acquire a total of 510,000 common shares effective January 21, 2021 at a price of $0.50 per share to a newly appointed director of the company. The options expire five years from the date of the grant, are subject to vesting and are governed by the terms of the companys stock option plan.

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

Deborah Rathjen, Ph.D., Chair & Chief Executive Officerdeborah@bioasis.us +1 203 533 7082

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. 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.

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.