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Bioasis Announces Positive Results from a Microdialysis Study Showing Lead Investigational Candidate xB3 ™-001 Increased Brain Activity

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The Company has filed a patent application based on these
observations and those data may have broader applicability

BIOASIS
TECHNOLOGIES INC
. ((TSX.V:BTI, OTCQB:BIOAF) ("Bioasis" or
the "Company"), a biopharmaceutical company developing its xB3
TM 
proprietary platform technology for the delivery of
therapeutics across the blood-brain barrier (BBB) for the treatment of
CNS disorders, today announced that its lead investigational candidate xB3-001
demonstrated increased brain activity in a pre-clinical mouse
microdialysis study.

Bioasis conducted the microdialysis study at Charles
River Laboratories Inc.
The aim of the study was to evaluate the
effect of xB3-001 on cortical brain-related activity in a
freely-moving in vivo mouse microdialysis study. Brain activity
was assessed by examining changes on neurochemical levels induced by the
Company's lead candidate xB3-001 vs. trastuzumab alone.

The study demonstrated that following a single intravenous treatment, xB3-001
elicited significant increases in brain cortical dopamine and serotonin
activity levels at 60-90 minutes after treatment. In contrast,
trastuzumab alone did not lead to changes in dopamine and serotonin
levels. Brain cortex norepinephrine also showed increasing trends at
60-90 minutes after treatment with xB3-001 compared to the
trastuzumab control. The neurochemical changes observed with xB3-001
treatment may indicate that xB3 fusions may yield additional
benefits for patients with neurodegenerative and oncological diseases.

"In addition to our recently published work with MedImmune, these new
data further validated the utility of our xB3 platform
technology to increase delivery of existing therapeutic compounds across
the blood-brain barrier," said Mei Mei Tian, Ph.D., vice president, head
of external research. "These data strengthen our pre-clinical data set
on the utility of the LRP1 receptor mechanism of action for BBB
translocation and the robustness of the xB3 platform to
transport large, complex biological therapies to their target in the
brain."

"We are encouraged by these preliminary data from the microdialysis
study as we look to advance our xB3-001 program in HER2+
brain metastases," said Mark Day, Ph.D., president & chief executive
officer. "Robust demonstration of modulation of brain activity can be
critical to the translational success for patients in clinical trials.
These data continue to help us build our risk mitigation strategy and
can improve our probability of success in the clinic if endpoints are
congruent across animals and humans."

The Company has filed a patent application based on the discoveries from
this study.

Bioasis also advises investors that an updated version of its corporate
presentation containing this information is available for review on its
website at www.bioasis.us/investors.

About Bioasis

Bioasis Technologies, Inc. is a biopharmaceutical company developing the
xB3 TM platform, a proprietary technology for the delivery of
therapeutics across the blood-brain barrier (BBB) 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 BBB 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 Richmond,
Canada with offices 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.

On behalf of the Board of Directors
Bioasis Technologies Inc.
Mark
Day, Ph.D., Director and President & Chief Executive Officer

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 regarding the anticipated
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of proceeds of the private placement, along with other statements
containing the words "believe", "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect" and similar expressions.
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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
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dependence on collaborative partners and the prospects for negotiating
additional corporate collaborations or licensing arrangements and their
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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
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