Bioasis Technologies Inc.
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- Bioasis Technologies Inc. was a biopharmaceutical firm dedicated to the research and development of solutions for diagnosing and treating neurological conditions. The company’s primary focus revolved around its proprietary xB3™ platform, engineered to facilitate the transport of therapeutic compounds across the blood-brain barrier and into the central nervous system, addressing severe medical needs such as brain cancers and neurodegenerative ailments. Historically, Bioasis had in-house development initiatives targeting symptomatic and disease-modifying treatments, including programs like xB3-001 for brain metastases, xB3-002 for glioblastoma, and xB3-007 for other neurodegenerative diseases. The company expanded its pipeline in June 2022 by acquiring Phase 2 ready epidermal growth factor (EGF) assets, broadening its scope into clinical-stage rare and orphan disease indications, such as chronic inflammatory degenerative polyneuropathy, Guillain-Barre Syndrome, and multiple sclerosis related optic neuritis. Bioasis previously engaged in research collaborations aimed at leveraging its xB3™ technology. These included partnerships with Aposense Limited for siRNA therapeutics in CNS disorders, Oxyrane UK Ltd. to integrate xB3™ with its OxyCAT platform for enhanced enzyme replacement therapy delivery to the brain, and Janssen Biotech, Inc. for the research, development, and commercialization of new products based on the xB3™ platform. A significant agreement was also made with Chiesi Farmaceutici S.p.A. in 2020 for an exclusive global license to utilize the xB3™ platform for undisclosed enzymes in four lysosomal storage disorders. Additionally, a research collaboration and license agreement was in place with Neuramedy Co Ltd. for an xB3™ variant of its antibody, Tomaralimab. However, as of June 2023, Bioasis Technologies Inc. announced the suspension of all its operations due to critically low cash reserves and the inability to continue funding its activities. This decision followed the termination of a proposed merger with Midatech Pharma PLC (now Biodexa Pharmaceuticals PLC) in January 2023, which left the company with substantial liabilities and limited financial options. Furthermore, Chiesi Farmaceutici S.p.A. informed Bioasis of its intent to terminate their licensing and collaboration agreement. Efforts to secure strategic alternatives after these events did not result in actionable transactions, and as of September 2024, all members of the company's board of directors had resigned. The company's shares are currently subject to a cease trade order. Bioasis Technologies Inc. was established in 2006 and maintained its corporate presence in New Haven, Connecticut.
Financial Analysis: Prelude Therapeutics (NASDAQ:PRLD) versus Bioasis Technologies (OTCMKTS:BIOAF)
Bioasis to Attend Upcoming Industry Conferences
Bioasis Technologies Inc. Announces the Appointment of Shadow Lake Group as Business Development Advisor
Bioasis Announces Allowance of Japanese Patent Application in Japan Relating to xB³™ Fusion Protein Comprising Iduronate-2-sulfatase
Bioasis Announces Filing of Its First Quarter Financial Statements and MD&A
Bioasis Technologies Inc. Announces Stock Option Grants, Jeffrey Sprouse Appointed Preclinical Program Manager
Bioasis Technologies reports positive results from an efficacy study of its blood-brain barrier penetrant
Bioasis Announces Positive Results From an Efficacy Study of xB3™-IL-1RA in a Model of Multiple Sclerosis
Bioasis Technologies appoints former PricewaterhouseCoopers veteran Dave Jenkins as CFO
Bioasis Announces the Appointment of Dave Jenkins as Chief Financial Officer
Bioasis Technologies partners with Oxyrane to evaluate combining brain therapy technologies
Bioasis Technologies Inc. and Oxyrane UK Ltd. enter into a Research Collaboration
Bioasis Technologies Announces Closing of Initial C$3,000,000 Funding by Lind Partners
Bioasis Announces Filing of Its Fourth Quarter and Fiscal Year-End Financial Statements and MD&A
Bioasis strikes convertible security funding agreement for institutional investment of up to C$10M
Bioasis Technologies enters into Convertible Security Funding Agreement for Institutional Investment of up to C$10 million
Bioasis has the best platform technology for shuttling drugs across the blood-brain barrier
Bioasis Technologies announces publication validating its xB3 platform to cross the intact blood-brain barrier
Bioasis Announces Publication Validating its xB³ ™ Platform Technology for CNS Therapeutics
Bioasis Technologies teams up with Aposense for siRNA delivery research