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Bioasis Technologies Inc. Announces Amendments to Arrangement Agreement with Midatech Pharma plc
Bioasis Technologies Inc. Announces Amendments to Arrangement Agreement with Midatech Pharma plc.
About this update from Bioasis Technologies Inc.
[{"type":"text","content":"\n NEW HAVEN, Conn., Dec. 19, 2022 (GLOBE NEWSWIRE) -- BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI) (the “Company” or “Bioasis”), a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factors and a differentiated, proprietary xB3 ™ platform for delivering therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, today announced the following amendments to the terms of the previously announcement arrangement agreement with Midatech Pharma plc (NASDAQ:MTP; AIM:MTPH) (“Midatech”): Midatech is no longer required to seek delisting from AIM following completion of the arrangement; andthe US$750,000 bridge loan to be provided by Midatech to Bioasis will now be advanced in three equal tranches of US$250,000 (on December 19, 2022, January 3, 2023 and February 6, 2023) instead of the entire amount being advanced immediately, as previously contemplated. On behalf of the Board of Directors of Bioasis Technologies Inc.Deborah Rathjen, Ph.D., Executive Chair of the Board Follow on:FacebookInstagramLinkedInTwitter BTI-CRP About Bioasis Bioasis Technologies Inc. is a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factors and the xB3 ™ platform, a proprietary technology for the delivery of therapeutics across the blood brain barrier and the treatment of CNS disorders in areas of high unmet medical need. The delivery of therapeutics across the blood-brain barrier 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. For more information about the Company, please visit www.bioasis.us. About Midatech Midatech is a drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines. Midatech combines approved and development medications with its proprietary and innovative drug delivery technologies to provide compelling products that have the potential to powerfully impact the lives of patients. Midatech has developed three in-...