biOasis enters into Blood Brain Barrier Collaborative Research Agreement

biOasis Technologies Inc. (TSX.V: BTI) is pleased to announce that it has entered into a second Collaborative Research Agreement ("CRA") with The University of British Columbia ("UBC"). The primary purpose of this CRA is to perform additional research on the use of p97 as a delivery system to shuttle compounds across the blood brain barrier (BBB). This new initiative will build on the preclinical Proof-of-Concept that demonstrated that p97 can shuttle anti-cancer drugs into the brain that are efficacious in the treatment of malignant brain tumours. The results of this study were published in June of 2008, in a landmark study entitled, " A Unique Carrier for Delivery of Therapeutic Compounds beyond the Blood-Brain Barrier" in the on-line journal PLoS ONE http://www.plosone.org/doi/pone.0002469, This new research and the development that will be carried out under the new CRA will add to the Company's Intellectual Property and may in the future lead to improved methods for delivery of therapeutics to help control or cure a large variety of neurological diseases.

Since the publication of the BBB paper, discussions have been underway with a number of biotech and pharmaceutical companies that have shown interest in this technology and, as previously announced, the Company has achieved a key milestone in this developmental path through its agreement with a major US biotechnology company, whereby several of the Company's patented, proprietary technologies and reagents for delivery of therapeutics across the BBB will be provided to them for further testing. This step is consistent with the overall objectives of the Company to collaborate with one or more companies to expand development and commercial opportunities for the use of this patented technology.

"biOasis is very pleased to be working with the scientific team at UBC. As with the CRA to purse the diagnostic marker for Alzheimer's disease announced on May 15th, this CRA will expand the research on this unique Blood Brain Barrier carrier system and add to our Intellectual Property Trust" said Rob Hutchison CEO. "One of the toughest impediments that physicians face in fighting neurological diseases is the inability to deliver drugs/therapeutics through the barrier formed between the brain and the blood that separates these two systems. The initial research demonstrates that p97 may be used to shuttle a variety of small and large drug and therapeutic compounds across the BBB that are normally excluded from entering the brain. This technology may dramatically change how physicians fight a host of neurological diseases".

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 utility of p97 as a biomarker for Alzheimer's disease 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

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

Chairman and CEO

(604) This email address is being protected from spambots. You need JavaScript enabled to view it.