Bioasis Announces Key Strategic Appointment to its Senior Leadership Team with Addition of Caroline Hill, Ph.D., Leading Research & Development Operations

VANCOUVER, British Columbia & GUILFORD, Conn.--()--BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), a biopharmaceutical company with a proprietary blood-brain barrier platform delivery technology focused on development of therapeutics for the treatment of brain cancers and neurodegenerative diseases, today announced a key strategic appointment to its senior leadership team with the addition of Caroline Hill, Ph.D., as senior vice president, head of research and development operations.

Dr. Hill brings extensive experience in pharmaceutical product and process development, clinical supply manufacturing and corporate biotechnology strategy. Dr. Hill will report to Mark Day, Ph.D., president and chief executive officer, Bioasis.

The addition of Caroline further illustrates our ability to attract top talent to the Bioasis team. Caroline has had an immediate impact on the advancement of our xB3-001, xB3-002 and xB3-007 programs,” said Dr. Day. “Having worked with Caroline at Bristol Myers Squibb in business development and project management, her appointment gives me great confidence in our ability to execute on our clinical strategy and to meet the significant milestones we have set for ourselves for the coming months. I am tremendously delighted to welcome Caroline to the Bioasis team. I look forward to her contributions and to working with her to drive the Bioasis clinical development efforts forward.”

Dr. Hill will be responsible for overall operational leadership to ensure robust execution of the Bioasis internal pipeline. Dr. Hill will have oversight of integrated development planning including timelines, vendor management, consultant oversight and pipeline updates to the Bioasis board of directors.

Caroline is a dynamic leader, and a fabulous addition to our leadership team. I view her laser focus on execution as a major strategic advantage,” said Dr. Day.

In connection with her appointment, Dr. Hill was awarded 370,000 options to purchase Bioasis common shares at a price of $0.68 per share pursuant to the terms of Bioasis’ stock option plan. The options have a five-year term and vest in equal quarterly instalments over three years.

About Caroline Hill, Ph.D.

Caroline Hill, Ph.D., spent 13 years at Bristol Myers Squibb (BMS) in research and development (R&D) operations, with her most recent role as head of regional R&D operations and schedule management, having responsibility across the portfolio covering discovery to life cycle management. Prior to this role, Dr. Hill was responsible for the management of the specialty portfolio including cardiovascular, immunoscience, virology, fibrotic disease and genetically defined diseases and has been involved with managing multiple licensing, partnering and acquisition opportunities.

Prior to joining BMS, Dr. Hill spent eight years at Vion Pharmaceuticals, starting as a research scientist in microbiology and ending her tenure as the director of quality control, analytical and bio-analytical development and manufacturing where she was responsible for all pre-clinical and clinical analytical development for biologics and small molecules as well as analysis of clinical samples and all operational logistics to support clinical pharmacokinetic/pharmacodynamics (PK/PD).

Dr. Hill earned her bachelor of arts degree in biochemistry from Clark University and her doctor of philosophy degree in biochemistry and molecular biology from the University of Massachusetts Medical School and completed her post-doctoral work at Yale University. While at Yale Caroline helped to establish the Connecticut chapter for the Association for Women in Science and served as the organization’s president from 2001-2003.

About Bioasis

Bioasis Technologies, Inc. is a biopharmaceutical company developing xB3, a proprietary platform technology for the delivery of therapeutics across the blood-brain barrier (BBB) and the treatment of CNS disorders, 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 Vancouver, Canada with offices 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.ca or 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, 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.

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.

Contacts

Media & Investor Relations:
Bioasis
Catherine London, +1-917-763-2709
Catherine@bioasis.us

Release Summary

Bioasis today announced the hire of Caroline Hill, Ph.D., as senior vice president, head of research and development operations.

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Contacts

Media & Investor Relations:
Bioasis
Catherine London, +1-917-763-2709
Catherine@bioasis.us