GlobeNewswire Inc | Oct 20, 2020 04:05PM EDT

October 20, 2020

GUILFORD, Conn., Oct. 20, 2020 (GLOBE NEWSWIRE) -- Bioasis Technologies Inc.(TSX.V:BTI; OTCQB:BIOAF) (the Company or Bioasis), 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 announces that the United States Patent and Trademark Office (USPTO) issued U.S. Patent No. 10,772,939 for the Companys xB3 platform technology.

The patent relates to methods for facilitating the transport of therapeutic agents across the BBB. The method utilizes Bioasis novel platform technology for administering a broad array of therapeutic agents to the brain tissue in patients who can benefit from this targeted delivery. Examples of therapeutic areas covered by the patent include lysosomal storage diseases.

We are excited about the issuance of this patent by the U.S. Patent Office because it represents a major milestone for our intellectual property protection around our core assets. Adding to the already granted patents in the U.S. and around the world, this further strengthens and reinforces our standing around our core technology and our xB3 programs, said Executive Chair and Chief Executive Officer, Deborah Rathjen, Ph.D. The Bioasis business model is based on the strength of these assets and the intellectual property that is protected by our broad patent portfolio.

On behalf of the Board of Directors of Bioasis Technologies Inc.Deborah Rathjen, Ph.D., Executive Chairdeborah@bioasis.us +1 203 533 7082

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About BioasisBioasis 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.V and on the OTCQB under the symbol BIOAF. For more information about the Company, please visit www.bioasis.us.BTI-PRD