Bioasis Technologies Announces the Appointment of Dr. May Orfali to the Position of Consultant Chief Medical Officer

GUILFORD, Conn.–(BUSINESS WIRE)–Bioasis Technologies Inc. (OTCQB:BIOAF; TSX.V:BTI), (the “Company” or “Bioasis”), a 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 today the appointment of Dr. May Orfali to the position of Consultant Chief Medical Officer, effective immediately. In this position, Dr. Orfali replaces Dr. Jose Iglesias, who has recently accepted a full-time position at another company. We thank Dr. Iglesias for his contributions to Bioasis to date.

Dr. May Orfali has a deep and extensive background in drug and clinical development programs that spans two decades in multiple therapeutic areas, with a focus on rare diseases, oncology, hematology, infectious disease and women’s health. Her most recent role was President at Oncology and Rare disease Consulting, LLC, she was the Chief Medical Officer at CANbridge Life Sciences where she led the clinical development and medical affairs group, focused on progressing phase 1 and phase II oncology assets in glioblastoma multiforme and esophageal cancer, filing NDA for neratinib in China in adjuvant and metastatic breast cancer therapy. Dr. Orfali has also spent several years at Pfizer as Global Medical Lead and Executive Director, Global Product Development across multiple rare disease assets in hematology, sickle cell disease, hemophilia, endocrinology, gene therapy and TTR-amyloidosis. Prior to her time at Pfizer, Dr. Orfali held several clinical leadership positions, at Wyeth, Artisan Pharma, Aeris Therapeutics, Cubist Pharmaceuticals and Boston Scientific Corporation.

Dr. Orfali holds a medical degree from the University of Baghdad, Baghdad, Iraq, and a Pharmaceutical Master of Business Administration from Cambridge University, Cambridge, England. She was a practicing physician, specialized in CNS Oncology Clinical Research at Dana-Farber Cancer Institute, in Boston, MA and completed her Fellowship in Pediatric Oncology/Hematology at Massachusetts General Hospital and Children’s Hospital, Boston, MA.

“We are very pleased that Dr. Orfali has joined the team at Bioasis. She has a unique experience in clinical development that is well suited to Bioasis’ deep pipeline across multiple therapeutic areas including neuro-oncology and rare diseases,” said Deborah Rathjen, Bioasis’ CEO and Chair. “In particular Dr. Orfali will make a significant contribution to the progression of our lead program xB³™-001 in development for the treatment of Her2+ breast cancer and brain metastases. We are very appreciative of the contribution Jose has made to this important program and we wish him all the best,” Deborah Rathjen added.

“The promise offered by Bioasis’ technology platform has the potential to make a real difference in the life of Her2+ breast cancer patients with brain metastases. This condition is very hard to treat, and efficient solutions are needed for it. I am thrilled to be part of this exciting endeavor,” said Dr. May Orfali.

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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. 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.

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 the Company’s intended use of proceeds of the Bridge Financing, 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.

Contacts

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

Deborah Rathjen, Ph.D.
Executive Chair of the Board
[email protected]
+1.203.533.7082