RICHMOND, British Columbia & GUILFORD, Conn. & SHANGHAI--(BUSINESS WIRE)--BIOASIS TECHNOLOGIES INC. (TSX.V:BTI; OTCQB:BIOAF) and WUXI BIOLOGICS (2269.HK) today announced an initial strategic collaboration for the development and manufacturing of xB3-001, Bioasis’ lead investigational biological candidate to treat brain cancer.
Bioasis 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 in areas of high unmet medical-need, including brain cancers and neurodegenerative diseases.
Headquartered in Wuxi city, Jiangsu province, China, WuXi Biologics is a leading global platform company providing end-to-end solutions for biologics with a mission to accelerate and transform biologics discovery, development and manufacturing to benefit patients around the world.
“The initiation of manufacturing for xB3-001 is a pivotal milestone for Bioasis as we look to advance our lead program in HER2+ breast cancer brain metastases,” said Mark Day, Ph.D., president and chief executive officer, Bioasis. “WuXi Biologics’ expertise and experience in manufacturing biologics is instrumental to Bioasis in developing our pipeline.”
The delivery of most biologics across the BBB and into the brain has been the single greatest challenge to treating brain diseases. Bioasis is engineering its first biologic product candidate, xB3-001, to overcome this obstacle in brain cancer. Manufacturing these sophisticated therapies requires a tailor-made approach, with expertise and agility in cell line, process and formulation development.
“We are excited to take on this work with Bioasis to enable them bringing innovative therapies to patients suffering from brain cancer,” said Dr. Chris Chen, chief executive officer, WuXi Biologics. “This collaboration allows us to leverage our expertise across biological drug development and anticipate Bioasis’ needs as they move from pre-clinical to clinical and beyond.”
Through this partnership Bioasis will have access to WuXi Biologics’ extensive expertise and technologies from cell line construction and development, cell culture process development, purification process development and formulation development. WuXi Biologics will focus on ensuring that Bioasis’ drug product candidates are manufactured with optimal formulation, stability and exceptional quality for the clinic.
About WuXi Biologics
WuXi Biologics, a Hong Kong-listed company, is the only open-access biologics technology platform in the world offering end-to-end solutions to empower organizations to discover, develop and manufacture biologics from concept to commercial manufacturing. Our company history and achievements demonstrate our commitment to providing a truly ONE-stop service offering and value proposition to our global clients. For more information on WuXi Biologics, please visit www.wuxibiologics.com.
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 Richmond, BC, 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.”