biOasis Announces Nominees to the Board of Directors, Chairman Transition and Details of its Annual General Meeting of Shareholders

VANCOUVER, BC--(Marketwired - August 28, 2017) - BIOASIS TECHNOLOGIES INC. (OTCQB: BIOAF)(TSX VENTURE: BTI) is pleased to announce its slate of nominees to the board of directors (the "Board") for election at the annual general meeting of shareholders (the "Meeting") on Thurs., Sept. 21, 2017. The slate is comprised of four current directors and three new nominees. The biOasis management team has nominated accomplished biopharmaceutical executives Nancy Stagliano, Ph.D., Deborah Rathjen, Ph.D. and Maha Radhakrishnan, M.D. for election to the Board at the Meeting.

biOasis founder Mr. Rob Hutchison will step down as chairman of the board on Dec. 31, 2017. "Rob has shown himself to be a real visionary, acquiring and securing new biOasis intellectual property (IP). He afforded the inception of biOasis in 2007, and led the company through April 2017. He has invested a great deal both personally and professionally into the company's success and we would not be where we are today without his business insights, IP expertise and knowledge of the Canadian markets," said Mark Day, Ph.D., president and chief executive officer, biOasis. "I am indebted to Rob for the opportunity to lead this organization and for the guidance and support he has given me since I started with biOasis. Rob created a company with a unique collaborative phenotype, a key ingredient to success."

"Transitions like this are bittersweet, but I am confident this is the right time to begin to take this next step for biOasis' future. Mark is a dynamic CEO who I believe will continue to lead the Company upward and implement successful growth driven by the new dual business strategy, " said Rob Hutchison, founder, former CEO and board chairman of biOasis. "I am highly confident in the experience of these new board nominees and the counsel they will provide. I look forward to watching Mark and his executive team accomplish great things in the months and years to come with their guidance."

"I am tremendously excited about our new Board nominees and the value they will bring to biOasis. I believe these seasoned life science professionals will help accelerate the positive momentum forward that has begun. This is a group of well-qualified, experienced industry leaders. These nominees have held senior leadership roles in areas that are strategically relevant to our business, including global expansion, product development and mergers and acquisitions," said Dr. Day. "I have been fortunate to work with Drs. Stagliano, Rathjen and Radhakrishnan through my previous work at BMS and Alexion. If elected, I am confident they will act independently and in the best interest of the biOasis shareholders and the Company. These nominees are highly driven individuals with uncompromised standards for ethics and compliance. They have displayed brilliant leadership skills and exceptional values."

Dr. Stagliano has a notable track record of leadership and innovation in the biotech industry. As a chief executive officer with three consecutive therapeutics company successes, Dr. Stagliano has demonstrated a strong formula for drug discovery and development, fundraising and M&A. Dr. Stagliano transformed iPierian, Inc. from a platform to product company, resulting in its acquisition by Bristol-Myers Squibb and subsequent development of its neurodegenerative disease antibody by Biogen. Dr. Stagliano's most recent company, True North Therapeutics, was acquired in June 2017 by Bioverativ based on the discovery and development of a breakthrough therapy for complement-mediated orphan diseases.

Dr. Rathjen has proven to be a skilled dealmaker and builder of alliances with her work on the Bionomics and Merck collaborations related to Alzheimer's disease and other neurodegenerative and psychiatric diseases with the goal to improve cognitive dysfunction in neurodegeneration. The company also has an oncology pipeline.

Dr. Radhakrishnan brings significant global, medical and scientific expertise via her medical affairs leadership roles. Her relevant experience includes strategic collaborations in research, with the most recent example for advanced imaging between Bioverativ and Invicro. Dr. Radhakrishnan also has extensive product launch experience including blockbuster treatments at BMS, Cephalon, Biogen and Bioverativ. Dr. Radhakrishnan has significant experience across a broad range of therapeutic areas, including several diseases and disorders within CNS such as multiple sclerosis, Alzheimer's disease, neuropathic pain, spinal muscular atrophy, schizophrenia, major depression, bipolar disorder, migraine, progressive supranuclear palsy and front temporal dementia.

"Their acceptance of these nominations further validates our science and supports our strategic business plans," said Dr. Day. "biOasis will benefit from their business acumen and counsel as we look to advance the company."

More About the Nominees

Nancy Stagliano, Ph.D.

Nancy Stagliano, Ph.D. is an accomplished serial biotechnology entrepreneur. As chief executive officer, Dr. Stagliano has successfully launched and/or exited three consecutive biotech companies: CytomX Therapeutics (CTMX), iPierian and most recently, True North Therapeutics. As Chief Executive Officer and co-founder of True North Therapeutics, Dr. Stagliano led the company to its recent acquisition by Bioverativ, Inc. for a total deal value of up to USD $825 million. Under her leadership, True North discovered and developed a first-in-class monoclonal antibody in the classical complement pathway, TNT009, which received breakthrough therapy designation from the FDA for the orphan indication, Cold Aggultinin Disease. Previously, Dr. Stagliano was CEO of iPierian, Inc. which applied human iPSCs to model neurodegenerative diseases. The company and its lead antibody program against Tau for the treatment of PSP and Alzheimer's disease was acquired by BMS in April of 2014 for a total deal value of USD $725 million; the antibody is currently in a Phase 2 trial in PSP led by Biogen. From 2008-2010, Nancy was the CEO and co-founder of CytomX Therapeutics and a lead inventor on the CytomX Probody platform. Before moving to California, Nancy worked in Cambridge, Massachusetts where she had an eight-year tenure at Millennium Pharmaceuticals. Dr. Stagliano received her bachelor of science degree in electrical engineering and master of science degree in biomedical engineering from Drexel University in Philadelphia. She obtained her doctor of philosophy degree in neuroscience from the University of Miami, Miller School of Medicine in Miami.

Deborah Rathjen, BSc (Hons), Ph.D., MAICD, FTSE

Dr. Rathjen is the chief executive officer and managing director at Bionomics. Dr. Rathjen joined Bionomics in 2000 from Peptech Limited, where she was the general manager of business development and licensing. Under Dr. Rathjen's leadership, Bionomics has advanced treatments for several CNS disorders, such as anxiety, depression and Alzheimer's disease. The company also has a development program in oncology targeting cancer stem cell therapies in solid tumors. The Company's technologies include ionX and MultiCore. Bionomics operates in three geographical areas, including Australia, France and the United States.

Dr. Rathjen was a co-inventor of Peptech's TNF technology and leader of the company's successful defense of its key TNF patents against a legal challenge by BASF. Dr. Rathjen has significant experience in company building and financing, mergers and acquisitions, therapeutic product research and development, business development, licensing and commercialization. Dr. Rathjen has been recognized both in Australia and internationally through awards and honors including the 2004 AusBiotech President's Medal, 2006 Flinders University Distinguished Alumni Award, 2009 BioSingapore Asia Pacific Biotechnology Woman Entrepreneur of the Year, 2009 Regional Finalist Ernst & Young - Entrepreneur of the Year, and 2014 Woman Executive of the Year BioPharm Industry Awards. Dr. Rathjen received her doctor of philosophy degree in immunology from Macquarie University in Sydney, Australia and her bachelor of science degree in immunology from Flinders University in Adelaide, Australia.

Maha Radhakrishnan, M.D.

Dr. Radhakrishnan is a senior vice president and head of worldwide medical at Bioverativ Therapeutics Inc. in Waltham, Mass. Dr. Radhakrishnan brings a broad perspective from clinical practice, medical affairs, launch of block buster products, managed care, alliance management and business development. Dr. Radhakrishnan is a senior leader with extensive pharmaceutical, biotech and managed care industry experience covering clinical development, post-marketing regulatory activities, medical affairs, safety and reimbursement requirements. Dr. Radhakrishnan received her medical doctor degree in internal medicine with honors from the People's Friendship University in Moscow, Russia.

biOasis Technologies, Inc.'s Annual General Meeting of Shareholders

The Meeting is scheduled for 10 a.m. PDT on Thurs., Sept. 21, 2017 at:

Tanya Markovich Law Corporation 1780-400 Burrard Street Vancouver, BC V6C 3A6

The management information circular and other proxy materials for the Meeting will be mailed to shareholders and will be available on SEDAR, www.sedar.com, and under the Investors section on www.bioasis.ca today.

About biOasis

biOasis Technologies Inc. is a biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier (BBB). The delivery of therapeutics across the BBB represents the single greatest challenge in treating neurological disorders. The company is developing and commercializing a proprietary brain delivery technology to address unmet medical needs in the treatment of central nervous system diseases and disorders. The company maintains headquarters in Vancouver, Canada with offices in Connecticut, United States. biOasis trades on the OTCQB under the symbol "BIOAF" and on the TSX Venture Exchange under the symbol "BTI." For more information about the company please visit www.bioasis.ca.

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: 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.

On Behalf of the Board of Directors

Mark Day, Ph.D., President & Chief Executive Officer

biOasis Technologies, Inc.

"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"