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Bioasis Welcomes John E. Curran & David M. Wurzer to the Company's Board of Directors

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Maha Radhakrishnan, M.D. has resigned as a director due to
personal reasons

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
central nervous system (CNS) disorders, today announced the appointments
of John E. Curran, CPA and David M. Wurzer, CPA to the Bioasis Board of
Directors, filling two of the current vacancies on the board. Mr. Curran
recently retired from Deloitte
& Touche LLP
where he served as a partner in Hartford, Conn.,
United States. Mr. Wurzer is currently an executive vice president and
chief investment officer at Connecticut
Innovations
in Rocky Hill, Conn., United States.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180727005276/en/

David M. Wurzer, CPA, executive vice president and chief investment officer, Connecticut Innovations ...

David M. Wurzer, CPA, executive vice president and chief investment officer, Connecticut Innovations (Photo: Business Wire)

Director Maha Radhakrishnan, M.D. has resigned due to personal reasons,
effective immediately.

"We are very happy to welcome Dave and John to our board. They bring
significant financial, board and audit and compensation committee
expertise and their acceptance of these appointments supports the
Company's strategic business plans. Bioasis will benefit from their
business acumen and counsel as the management team works to advance the
Company with guidance from the board," said Dr. Deborah Rathjen, chair
of the board. "We would also like to thank Dr. Maha Radhakrishnan for
her service and contributions to the board and wish her the very best."

In connection with the changes to the board, the composition of the
board committees has been revised as follows:

  • Audit Committee (fully comprised of independent directors): Mr.
    John E. Curran, CPA (chair), Dr. Deborah Rathjen and Mr. David M.
    Wurzer, CPA
  • Compensation Committee (fully comprised of independent
    directors): Dr. Nancy Stagliano, Dr. Deborah Rathjen and Mr. David M.
    Wurzer, CPA

"John and Dave have uncompromised standards for corporate governance and
have displayed brilliant financial, operational and business leadership
skills and exceptional values throughout their careers," said Mark Day,
Ph.D., director and president and chief executive officer. "We are
thrilled to have them on our board and look forward to working with
them."

John Curran is a former partner at Deloitte
& Touche LLP
in Hartford, Conn., United States. He recently
retired after spending 41 years with Deloitte. Mr. Curran has
substantial experience advising and supporting business strategic
development and implementation, including growth strategies (organic and
merger & acquisition), marketplace strategies, capital structuring
(equity and debt structuring) as well as managing business performance,
profitability and creating shareholder value. Mr. Curran has served as a
lead advisor and provided oversight on more than 50 due diligence
projects. He has advised and supported extensive capital structuring and
financing transactions, including initial and ongoing public offerings
and private placements of debt and equity securities. Mr. Curran has
broad U.S. Securities and Exchange Commission (SEC) experience,
including registration and financial statement filings. He has also
advised on and supported issue resolution including, responding to SEC
comment letters, developing accounting and financial disclosures and
compliance with SEC rules and regulations.

Dave Wurzer joined Connecticut
Innovations
(CI), the state of Connecticut's "venture capital arm,"
in 2009 where he currently serves as executive vice president and chief
investment officer. Mr. Wurzer is responsible for managing the
investment function at CI, which includes planning and performance
measurement for the $125 million venture capital portfolio, comprised of
investments in over 150 Connecticut technology companies. Throughout his
38-year career, Mr. Wurzer has accumulated noteworthy experience in
identifying, evaluating and assisting early-stage companies across a
broad range of industries with funding through equity and equity-related
(venture) investments to help spur growth. Mr. Wurzer has made
meaningful contributions reviewing business strategies and raising
capital for the companies and has also been involved in negotiating
strategic and business development alliances with several pharmaceutical
and biotech companies.

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.

MORE ABOUT THE DIRECTORS

John E. Curran, CPA

John E. Curran is a former partner with Deloitte
& Touche LLP
("Deloitte"), most recently serving as office
managing partner, the equivalent of business unit chief executive
officer, of Deloitte's Hartford, Conn. practice and as a lead client
service partner responsible for enterprise-wide solutions across all
Deloitte's service lines (tax, audit, risk and consulting/technology).
Mr. Curran became a partner in 1987 and retired in June 2018.

Over the course of his career, Mr. Curran has served some of the firm's
largest insurance clients as well as health care entities. He has been
responsible for the client relationship, assembling and oversight of
multifunctional teams, quality and risk and financial performance. Mr.
Curran's expertise includes mergers & acquisitions, financial reporting,
corporate governance, SEC matters, regulatory, strategic business
planning and initial public offerings (IPOs). Mr. Curran has also led
numerous due diligence projects in the insurance industry for large
private equity entities.

Mr. Curran currently serves on the board of directors for the Richard M.
Keane Foundation. He has previously served on the board of The Mark
Twain House, The Greater Hartford Arts Council, The Boys & Girls Club of
Hartford and The Hartford Economic Insurance Cluster.

Mr. Curran is a Certified Public Accountant and earned his bachelor of
business administration degree in accounting from the University of
Notre Dame in Notre Dame, Ind., United States.

David M. Wurzer, CPA

David M. Wurzer currently serves as executive vice president and chief
investment officer at Connecticut
Innovations
(CI) in Rocky Hill, Conn. Mr. Wurzer is responsible for
managing the investment function at CI, which includes staffing,
portfolio and risk management, outreach, budget planning and performance
measurement. He also is responsible for oversight of the Connecticut
Bioscience Innovation Fund (CBIF) and the Regenerative Medicine Research
Fund (RMRF).

When Mr. Wurzer joined CI in 2009 as senior managing director of
investments, he had extensive senior-level experience in operations and
finance, including more than 10 years as executive vice president,
treasurer and chief financial officer of CuraGen Corporation, a former
CI portfolio company. Mr. Wurzer guided the biotech company through its
initial public offering and helped raise more than $700 million. Mr.
Wurzer was also involved in negotiating strategic and business
development alliances with several pharmaceutical and biotech companies,
including Roche, Bayer and Amgen-Freemont (Abgenix). Mr. Wurzer helped
to grow CuraGen and its technology development subsidiary into an
operation with more than 500 employees and a market capitalization as
high as $5.3 billion.

Mr. Wurzer began his professional career with Coopers & Lybrand in
Hartford, Conn. (now part of PricewaterhouseCoopers), where he held
various accounting and managerial positions.

Mr. Wurzer currently serves on the board of directors for several
private and public companies, including Standard Diversified
Opportunities, Inc. (NASDAQ:SDOI), Summit Therapeutics (NASDAQ:SMMT;
LON:SUMM), ReNetX Therapeutics (f/k/a Axerion Therapeutics), Natural
Polymer Devices, Thetis Pharmaceuticals. His various responsibilities on
these boards include lead director, audit committee chair, compensation
committee chair, nominating member and audit and compensation committee
member.

Mr. Wurzer previously served on the board of directors for DUSA
Pharmaceuticals (NASDAQ:DUSA), Response Genetics (NASDAQ:RGDX), 454 Life
Sciences Corporation, CyVek, EmmeE2MS, LegiTime, My Gene Counsel,
NovaTract Surgical, Sematifi, SmartPay Solutions and ZetrOZ. His various
responsibilities on those boards included audit committee chair,
compensation committee chair and audit and compensation committee member.

Mr. Wurzer is a board financial expert for SEC purposes and Certified
Public Accountant. Mr. Wurzer earned his bachelor of business
administration degree in accounting from the University of Notre Dame in
Notre Dame, Ind., United States.

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,
BC, 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

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.

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