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Bioasis Acquires Phase 2 Ready Rare Orphan EGF Assets
Bioasis Acquires Phase 2 Ready Rare Orphan EGF Assets.
About this update from Bioasis Technologies Inc.
[{"type":"text","content":"\n Phase 2 ready assets transform Bioasis into a clinical stage company with a multi-asset pipeline focused on rare and orphan drug indications Unique approach to neurodegeneration targeting remyelination Initial indications Chronic Inflammatory Degenerative Polyneuropathy, Guillain-Barre Syndrome, and Multiple Sclerosis related Optic Neuritis Complements Bioasis’ differentiated xB3TM platform for delivering therapeutics across the blood-brain barrier NEW HAVEN, Conn., U.S.A., June 16, 2022 (GLOBE NEWSWIRE) -- BIOASIS TECHNOLOGIES INC. (TSXV:BTI.V; OTCQB:BIOAF), (the “Company” or “Bioasis”) a biopharmaceutical company developing its proprietary xB3TM platform technology for the delivery of therapeutics across the blood-brain barrier (the “BBB”) announced today that it has entered into an asset purchase agreement with the owners (the “Sellers”) of Cresence AS of Oslo, Norway. “This transaction is transformational for Bioasis, bringing Phase 2 ready assets aligned with our focus in rare disease and orphan drug indications. EGF1-48 comes with a full IND package and clinical experience indicating that it is safe and well tolerated in humans. The molecule has a unique dual mechanism of action, stimulating myelination and downregulating neuroinflammation, thus offering neuroprotective properties that support development in Guillain-Barre Syndrome, Chronic Inflammatory Degenerative Polyneuropathy and certain clinical manifestations related to onset and/or progression of multiple sclerosis including optic neuritis and relapses of the disease,” said Dr. Deborah Rathjen, Executive Chair of Bioasis. “This transaction follows a number of recent partnering deals, with a growing list of pharmaceutical and biotechnology collaborations already established for our xB3TM technology,” Dr Rathjen added. “The transfer of these assets to Bioasis will speed up the development of EGF therapeutics for the treatment of certain rare neurodegenerative disorders,” Professor Francois Curtin, co-founder and Vice-Chairman of the Cresence Board observed. “We are thrilled by this agreement with Bioasis as it will progress the development of new therapeutic solutions based on EGF peptides for the treatment of rare neurodegenerative disorders where there is still signif...