VANCOUVER, British Columbia, Oct. 6, 2009 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) is pleased to announce that David Browning has agreed to advise the Company on its development programs for p97 diagnostic products.
During a nearly 30 year career within the healthcare industry, most recently as the CEO of Philips Oral Diagnostics, David has driven transformational change within blue-chip and early stage companies. His broad knowledge base includes recent experience in personalized healthcare and nanotechnology.
A significant part of his career has been within blue-chip healthcare corporations, including Ortho Clinical Diagnostics (a Johnson and Johnson company), Kodak Clinical Diagnostics and Amersham International, where he focused on the development and commercialization of leading-edge systems in clinical diagnostics.
David's primary experience was gained as a Biomedical Scientist within the UK National Health Service, where he was involved in developing a wide range of innovative biomarker-based diagnostics across the full pathology spectrum, with particular emphasis on Chemical Pathology and Clinical Biochemistry.
In 2005, David established Oxonica Healthcare Ltd., a diagnostics company that specializes in the development and commercialization of advanced nanotechnology-based platforms for biomarker detection and personal care applications. During his tenure Oxonica acquired Mountain View, CA-based Nanoplex Technologies Inc. and entered into a co-development agreement with a Fortune 500 Company. He is currently focusing on the development and implementation of personalized healthcare solutions within Philips.
"We are very excited about David joining the biOasis team," says Rob Hutchison CEO. "The timing coincides with the Company's plans to move our p97-based diagnostic application for Alzheimer's disease from the research laboratory to a development phase where commercialization and global licensing are near to medium term goals. David's experience will be invaluable in guiding the biOasis team towards a variety of opportunities at this very exciting time in the company's growth.
"I am very excited to join the biOasis team," says David Browning. "Alzheimer's Disease is a significant and growing medical challenge for which the diagnostic and therapeutic product potential for biOasis's patented p97 technologies is enormous."
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. It 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
"Robin Hutchison" Director and CEO
"The TSX Venture Exchange has neither approved nor disapproved the contents of this press release."