NEW HAVEN, Conn., June 03, 2021 (GLOBE NEWSWIRE) — BIOASIS TECHNOLOGIES INC. (TSXV: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 announced the publication of research validating the ability of the company’s xB3 ™ platform to cross the intact blood-brain barrier and its localization in variety of brain cell types. Professor Wilfred Jefferies together with scientists from both the Jefferies Laboratory and Bioasis used multiple approaches to help pinpoint and then evaluate Bioasis’ xB3 ™ platform technology by investigating its ability to traverse the BBB. This research shows that the xB3 ™ platform can cross intact BBB and enter intracellular organelles within neurons, glia and microglia in the brain. The research conducted by Singh, et al., “Discovery of a Highly Conserved Peptide in the Iron Transporter Melanotransferrin that Traverses an Intact Blood Brain Barrier and Localized in Neural Cells,” was published in the Frontiers in Neuroscience on June 2nd, 2021. The data presented in this publication provide evidence for the utility of xB3 ™ peptide (previously known as MTfpep) as a platform technology for delivery of recombinant and chemically conjugated drug across the BBB. This study characterizes the utility of xB3 ™ in brain delivery where the BBB remains intact and thus offers new avenues for potential focused treatments in variety of neuropathologies that are currently refractory to existing therapies. Dr. Wilfred A. Jefferies, Professor at University of British Columbia, and the leader of the project stated, “This research was carried out over many years and describes the discovery of the minimally active region within melanotransferrin that retains the capability of transendothelial transport across the blood brain barrier in both in vitro blood brain barrier models and in vivo blood brain barrier transcytosis in mammals. This human MTf peptide appears to be unusual as it is extremely highly conserved among many mammals but differs in comparison to peptides in evolutionarily conserved human proteins, transferrin or lactoferrin, that do not appreciably cross the blood brain barrier. Furthermore, it is fascinating that upon entering the brain, the MTf peptide distributes into many cell types in the CNS including neurons, microglia and glia where it enters specific organelles, including endosomes and lysosomes.” “These data further validate the utility of our xB3 ™ platform technology to achieve delivery of therapeutic compounds across the BBB at levels that may help treat a variety of CNS diseases. This data is consistent with the previous studies where our technology successfully delivered enzymes, antibodies and siRNA across the BBB with demonstrated efficacy in both the brain and the periphery in settings as diverse as brain cancers, neuropathic pain and lysosomal storage disorders,” said Dr. Deborah Rathjen, Executive Chair of the Board, Bioasis. On behalf of the Board of Directors of Bioasis Technologies Inc. Deborah Rathjen, Ph.D., Executive Chair of the Board Follow on:FacebookInstagramLinkedInTwitter BTI-CRP 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 StatementsCertain 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 along with other 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. 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. 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