biOasis Technologies Inc. (TSX.V: BTI) is pleased to announce the appointment of Dr. Avi Livnat to its Scientific Advisory Board. Dr. Livnat is the former CEO and Founder of Quintiles Israel Ltd., a wholly owned subsidiary of Quintiles Transnational Inc., the world’s largest Contract Research Organization. Quintiles currently offers a variety of services to the biomedical industry; strategic and regulatory consulting, pre-clinical testing, clinical trials design, management and pharmaco-economics evaluations and received FDA recognition as an approved site for FDA clinical trials in 1997. Since its inception in 1997, Quintiles Israel has conducted over 60 clinical trials.
Dr. Livnat founded the Medical Device Department at the Ministry of Health of the State of Israel and was its head for four years. That department performs a similar role to the U.S. Food & Drug Administration (“FDA”). It functions by guarding the safety and efficacy of medical devices (FDA-CDRH); modernizing pharmaceutical administration; establishing international connections and cooperative working relationship with the FDA, Canadian and European authorities and modernizing the clinical trials regulatory system in Israel.
Previously, Dr. Livnat served as a Professor of Physiology and Biophysics at the University of Illinois at Urbana-Champaign. He holds a B.Sc. in Physics and Mathematics from the Hebrew University of Jerusalem, a Ph.D. in Cardiovascular Physiology and Biomedical Engineering from the University of Southern California and a M.Sc. in economics from the University of Illinois.
“biOasis is extremely fortunate to have Dr. Livnat join our team,” said Rob Hutchison, CEO of biOasis. “Avi brings tremendous experience in three critical areas for the Company; regulatory approvals process, clinical testing, and contract research outsourcing. With Avi’s help and guidance, biOasis will be better positioned and prepared when we seek to have our p97 blood test approved as a Biomarker to help Physicians diagnose Alzheimer’s disease. Moreover Avi’s global expertise will be invaluable to us as we seek additional collaborators on our patented use of the physiological protein ’p97’ to shuttle compounds across the Blood Brain Barrier.”
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 its IP to pursue a biomarker for the diagnosis of Alzheimer’s disease based on quantitation of p97 (melanotransferrin) in blood plasma. 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. The Company is also pursuing the use of p97 as a carrier for delivery of a variety of drugs and other therapeutic molecules across the Blood Brain Barrier.
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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: we may not be able to successfully develop and obtain regulatory approval for p97 as a Physician’s Aid to Diagnose Alzheimer’s, 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
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.”
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