VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/18/13 -- biOasis Technologies Inc., (TSX VENTURE: BTI) an industry-leading provider of technology to potentially deal with the unmet medical need of shuttling therapeutic compounds across the Blood-Brian Barrier, with its Transcend technology, issued the following letter:
Dear fellow biOasis Shareholders:
The past 12 months have been marked by a number of significant accomplishments. I would like to highlight a few of those, review our core Transcend technology, and the opportunities before us.
biOasis is actively engaged in the development of a proprietary vector (Transcend) for the transport of therapeutic agents across the blood brain barrier ("BBB").
The BBB is a very specialized barrier system of endothelial cells that regulates molecules accessing the brain. The BBB provides an insulated environment for stable function of the cells that make up the brain. As such, this barrier prevents approximately 98% of small molecule drugs and almost 100% of larger biologic drugs (antibodies, enzymes, etc.) from entering the brain in levels that would be useful therapeutically. By linking therapeutic agents to Transcend, biOasis is developing new classes of brain penetrating drugs and offering pharmaceutical companies the opportunity to greatly expand the commercial potential of a range of their key therapeutics.
We have been working on the biOasis technology for many years. Dr. Wilf Jefferies and his team of scientists, some of who are now working at biOasis, created what we are now branding as Transcend(sm). The history of how the technology came to exist and how it works is a fascinating story. It is well told in "The Transcend Story" which you can find at http://bioasis.ca/programs.htm
After several years of externally vetting the technology with quality independent third parties, such as: National Research Council of Canada, BC Cancer Research Centre, St. Paul's Hospital iCapture, Fleet Bioprocessing, London, England, Southern Research Institute, BRI Pharmaceuticals, and Texas Technical University Department of Pharmacy, in 2012 we began taking serious steps required to advance our technology towards commercial development.
During this vetting period, we expanded our patent portfolio covering the intellectual property underlying Transcend and continue to actively pursue additional patents for our overall technology. We now have over 30 patents and patent applications.
We entered into four important strategic collaborations with world-leading Pharmaceutical companies that wanted to "get their hands on Transcend" to see if it could be used with their target therapeutic compounds. These are:
1. Shire HGT2. AbbVie3. MedImmune4. UCB Pharmaceuticals
For a company at the stage of biOasis's to engage these world-class companies in such short order was a major milestone.
These events fit perfectly into the overall business strategy for our company, which can be summarized as follows:
-- Obtain independent 3rd party validation of Transcend-- Expand and protect the Intellectual Property portfolio-- Advance the development of a small number of programs internally and for our own account - the ones that are relatively low cost, have the potential to achieve major milestones in the short to mid term and have large market potential-- Collaborate with reputable Pharmaceutical companies that are interested in the potential of Transcend - creating numerous shots on goal - leading us ultimately to commercial transactions with numerous strong partners or licensees.