BIOAF Bioasis Technologies Inc (CE)

This Represents A Positive Step Towards A New Therapeutic Approach For the Treatment of CNS Diseases and Disorders

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 17, 2014) - BIOASIS TECHNOLOGIES INC. (OTCQX:BIOAF)(TSX-VENTURE:BTI), a pioneering biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier, has signed an evaluation agreement with MedImmune, the global biologics research and development arm of AstraZeneca.

Under the terms of the agreement, MedImmune will evaluate the therapeutic effect of its pre-clinical assets with next-generation versions of biOasis's Transcend brain delivery platform. Efficient transport of drugs targeted at the central nervous system is significantly hampered by the blood-brain barrier; biOasis's Transcend platform, with its ability to shuttle compounds across this barrier, may hold a solution to this problem.

"Our working relationship with MedImmune began in November 2012. In our collaboration, we demonstrated transport of MedImmune's antibodies into the brain using our first-generation Transcend vector," said Dr. Reinhard Gabathuler, Chief Scientist at biOasis. "In addition, we introduced our second-generation Transcend vector into this collaboration and other programs we have underway, where we have observed equivalent or increased antibody transport into the brain. We feel that this next generation of Transcend will have specific advantages in transporting certain biologics into the brain."

"MedImmune is pleased to be entering into this new agreement with biOasis," said Dr. Carl Webster, Associate Director, Antibody Discovery and Protein Engineering, MedImmune. "Our recently completed initial collaboration was very positive and led us to decide to undertake this second project to investigate the therapeutic effect and utility of biOasis's technology."

Financial terms were not disclosed.

About biOasis

biOasis Technologies Inc. is a biopharmaceutical company headquartered in Vancouver, Canada. Based on Transcend, biOasis proprietary brain delivery platform, the company is focused on creating new drugs that can cross the blood-brain barrier to address unmet medical needs in the treatment of brain diseases such as neurodegeneration, metastatic cancer and metabolic diseases. biOasis trades on the OTCQX 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

Rob Hutchison Chairman & CEO

"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."

biOasis Technologies Inc.Rob HutchisonChairman & CEO778-383-3280rob@bioasis.cawww.bioasis.caLiolios Group, Inc. - Investor Relations ContactRon BothSenior Managing Director949-574-3860BTI@liolios.com

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