Experienced Biotech and Regulatory Expert Becomes Formal Member of the biOasis Team

VANCOUVER, British Columbia, Nov. 20, 2009 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) is pleased to announce that Dr. Delara Karkan has been named as Senior Industry Scientific Advisor.

Dr. Karkan has over 10 years experience in drug development in the pharmaceutical and biotechnology industry and government. Dr. Karkan is currently Senior Science Advisor to the Office of Science and Risk Management, Health Products and Food branch, Canada, acting as a collaborator and advisor to the Food and Drug Administration Nanotechnology task. She has served as Deputy Director in the Biologics and Genomic Therapy Directorate at Health Canada where she is responsible for the Preclinical safety unit. In addition, she has advised companies on developmental processes involving nanotechnology based products. Dr. Karkan has also served as Director, Preclinical Research and Development with Labopharm Pharma Inc., as Senior Pharmacokinetist with MDS Pharma Sciences Clinical Research in Montreal and Germany, as a Toxicology Consultant at Vancouver General Imaging Centre, and as a Research Scientist and then Group Leader, Pharmacology at Synapse Technologies Inc. where she worked on the p97 technology now owned by biOasis.

Dr. Delara Karkan obtained her Ph.D. from the University of British Columbia in Pharmacology and Therapeutics and is an American Board exam toxicologist (Diplomat of the American Board of Toxicology). She obtained her M.Sc. in Biotechnology from The University of London, U.K. and her B.Sc. in Pharmacy from The University of Uppsala Sweden. Dr. Karkan has also passed the Patent Agent Exam of the Intellectual Property Institute of Canada. Dr. Karkan is a member of the American Pharmaceutical Association of Canada, the American Pharmaceutical Association, the Intellectual Property Institute of Canada and the FDA international nanotechnology team.

"Dr. Karkan has extensive industry and regulatory experience in key areas that biOasis is focused on," says CEO Rob Hutchison. "Moreover she has unique knowledge of the Company's technology as she was a senior scientist working on the initial proof that p97 could shuttle therapeutic compounds into the brain and that the therapeutic, once delivered, could reduce the growth of brain tumors. Both this past experience and Delara's recent industry and regulatory work, will help us immeasurably in developing the Company's p97 platform for delivery of molecules across the blood brain barrier."

"I am personally and professional excited about working on the p97 project again," says Delara Karkan. "We have established initial proof of concept and preclinical efficacy in conjugating anti-cancer drugs to molecules to p97 and delivering them through the Blood Brain Barrier (http://www.plosone.org/article/info:doi/10.1371/journal.pone.0002469). I believe that the platform delivery technology built around the ability of p97 to shuttle a wide variety of therapeutic compounds into the brain will help an immense number of people who's treatment options are currently limited. For me, this offers a great opportunity to assist in a very worthwhile opportunity."

ABOUT BIOASIS:

biOasis Technologies Inc. is a Canadian Life Sciences company focused on the Health Care & Life Sciences market, and is engaged in the development and commercialization of diagnostics and therapeutic delivery systems related to neurological diseases. biOasis has extensive and comprehensive intellectual property ("IP"), which it obtained from The University of British Columbia. The Company's initial area of focus has been on the utilization of the IP to pursue a biomarker for the diagnosis of Alzheimer's disease. This IP has been corroborated in double- blinded and successive multi-site clinical trials.

The Company is also accelerating its work on its Blood Brain Barrier Compound Delivery Platform ("B3CDP") that has been independently verified to shuttle a variety of therapeutic compounds across the Blood Brain Barrier.

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 without limitation 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: we may not be able to successfully develop and obtain regulatory approval for p97 as a Physician's Aid to Diagnose Alzheimer's, 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.

On Behalf of the Board of Directors

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