Bioasis Announces Allowances of Patent Applications in the U.S. & Europe Relating to xB3 Platform Technology & Key Therapeuti...
June 24 2019 - 4:05PM
Business Wire
- U.S. Patent Office and European Patent Office issue allowances
of patent applications relating to iduronate-2-sulfatase (“IDS”)
polypeptide/xB3 conjugates
- European Patent Office issues allowance of patent application
relating to trastuzumab/xB3 conjugates including xB3-001, Bioasis’
lead product in development for the treatment of HER2+ breast
cancer brain metastases
Bioasis Technologies Inc. (TSX.V:BTI; OTCQB:BIOAF) (the
“Company” or “Bioasis”), a pre-clinical, research-stage
biopharmaceutical company developing its proprietary xB3 TM
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 that the U.S. Patent and Trademark Office (“USPTO”) and
the European Patent Office (“EPO”) have issued allowances of patent
applications relating to xB3 technology.
Both the USPTO and EPO have issued allowances of the Company’s
patent applications relating to iduronate-2-sulfatase (“IDS”)
polypeptide / xB3 conjugates. The patent applications relate to the
IDS/xB3 fusion conjugates as well as pharmaceutical compositions
containing the fusion conjugates. The IDS/xB3 conjugates may be
used in treating lysosomal storage diseases such as Hunter
Syndrome.
The EPO has issued an allowance of the Company’s patent
application relating to trastuzumab/xB3 fusion conjugates. The
patent application relates to the trastuzumab/xB3 fusion conjugates
as well as pharmaceutical compositions containing the fusion
conjugates. The trastuzumab/xB3 conjugates may be used in treating
a variety of diseases, for example, a HER2-overexpressing
metastatic breast cancer.
“We are excited about the issuance of allowance of these patent
applications by the USPTO and EPO, which enhance the strength of
our intellectual property protection around our core assets,
especially with respect to our lead program xB3-001, potential
treatments for lysosomal storage disorders and our commercial
licensing strategy,” said Company Chair and Chief Executive
Officer, Deborah Rathjen, Ph.D. “These patents reaffirm the overall
value of Bioasis’ xB3 platform technology as we work to advance our
programs for difficult-to-treat diseases of the central nervous
system by delivering therapeutics across the blood-brain
barrier.”
On behalf of the Board of Directors of Bioasis Technologies
Inc.
Deborah Rathjen, PhD, Director, President & Chief Executive
Officer
ABOUT BIOASIS
Bioasis Technologies Inc. is a biopharmaceutical company
developing the xB3 TM platform, a proprietary technology for the
delivery of therapeutics across the 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 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, 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.
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Deborah Rathjen, Ph.D. deborah@bioasis.us +1 203 533 7082
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