VANCOUVER, British Columbia, March 24, 2009 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX.V:BTI) is pleased to announce that Mr. Mark Godsy has joined the Company to assist in the overall strategy of the Company.
Mr. Godsy is a very successful and experienced entrepreneur working in the area of corporate development and venture capital who co-founded two very successful Canadian biotechnology companies; ID Biomedical and Angiotech Pharmaceuticals. Mr. Godsy is a graduate of the University of British Columbia and received his law degree from McGill University.
Mr. Godsy will be assisting the company with the identifying and securing of additional experienced directors for the board; the formulation and execution of a comprehensive business strategy; and securing strategic alliances. Mr. Godsy will assist with corporate development activities including raising funds for the Company and other projects related to securing the growth of the Company.
"We are extremely fortunate to have Mark, who has significant experience in growing biotech companies, join our team," says CEO Rob Hutchison. "I look forward to working with Mark as he contributes to building our business as we focus on our Alzheimer's diagnostic blood test and blood brain barrier therapeutic delivery system."
"I am delighted to join the biOasis team," says Mark Godsy. "The company's patented technology which was developed by Dr. Wilf Jefferies at the University of British Columbia has shown very promising early results in addressing the challenges associated with the blood brain barrier. The clinical impact of biOasis' technology offers tremendous potential. I am grateful to Wilf for his dedication and effort to improve medicine. I look forward to working with the biOasis team in helping further build the team and shaping the Company's strategic direction."
ABOUT BIOASIS:
biOasis Technologies Inc. is a Canadian Biotechnology company engaged in the development and commercialization of diagnostics and therapeutics related to neurological diseases. It has extensive and comprehensive intellectual property ("IP") which it obtained from the University of British Columbia. The Company's initial area of focus will be on the utilization of the IP to pursue a biomarker for the diagnosis of Alzheimer's disease. The IP has been corroborated in double blinded and successive multi-site clinical trials.
According to the Centers for Disease Control and Prevention ("CDC"), Alzheimer's disease was listed as the "underlying cause of death" for 65,829 Americans in 2004. It was the seventh leading cause of death for people of all ages and the fifth leading cause of death in people age 65 and older.
To find out more about biOasis Technologies Inc. visit www.bioasis.ca.
Forward-Looking Statements
Statements in this document regarding future expectations, beliefs, goals, plans or prospects constitute forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. These risks include, but are not limited to, those associated with the success of research and development programs, the Company's ability to raise additional funding and the potential dilutive effects thereof, the regulatory approval process, competition, securing and maintaining corporate alliances, market acceptance of the Company's products, the strength of intellectual property, reliance on subcontractors and key personnel and other risks detailed from time-to-time in the Company's public disclosure documents and other filings with the Canadian securities regulatory authorities. Forward-looking statements are made as of the date hereof, and the Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
On Behalf of the Board of Directors
Robin Hutchison Director and CEO (604) 542-5059 rob@bioasis.ca
"The TSX Venture Exchange has neither approved nor disapproved the contents of this press release."