BTI BiOasis Technologies Inc

biOasis Technologies Inc., (TSX VENTURE:BTI) an industry-leading provider of
technology to potentially deal with the unmet medical need of shuttling
therapeutic compounds across the Blood-Brian Barrier, with its Transcend
technology, issued the following letter:


Dear fellow biOasis Shareholders:

The past 12 months have been marked by a number of significant accomplishments.
I would like to highlight a few of those, review our core Transcend technology,
and the opportunities before us.


biOasis is actively engaged in the development of a proprietary vector
(Transcend) for the transport of therapeutic agents across the blood brain
barrier ("BBB").


The BBB is a very specialized barrier system of endothelial cells that regulates
molecules accessing the brain. The BBB provides an insulated environment for
stable function of the cells that make up the brain. As such, this barrier
prevents approximately 98% of small molecule drugs and almost 100% of larger
biologic drugs (antibodies, enzymes, etc.) from entering the brain in levels
that would be useful therapeutically. By linking therapeutic agents to
Transcend, biOasis is developing new classes of brain penetrating drugs and
offering pharmaceutical companies the opportunity to greatly expand the
commercial potential of a range of their key therapeutics.


We have been working on the biOasis technology for many years. Dr. Wilf
Jefferies and his team of scientists, some of who are now working at biOasis,
created what we are now branding as Transcend(sm). The history of how the
technology came to exist and how it works is a fascinating story. It is well
told in "The Transcend Story" which you can find at
http://bioasis.ca/programs.htm


After several years of externally vetting the technology with quality
independent third parties, such as: National Research Council of Canada, BC
Cancer Research Centre, St. Paul's Hospital iCapture, Fleet Bioprocessing,
London, England, Southern Research Institute, BRI Pharmaceuticals, and Texas
Technical University Department of Pharmacy, in 2012 we began taking serious
steps required to advance our technology towards commercial development.


During this vetting period, we expanded our patent portfolio covering the
intellectual property underlying Transcend and continue to actively pursue
additional patents for our overall technology. We now have over 30 patents and
patent applications.


We entered into four important strategic collaborations with world-leading
Pharmaceutical companies that wanted to "get their hands on Transcend" to see if
it could be used with their target therapeutic compounds. These are:




1.  Shire HGT 
2.  AbbVie 
3.  MedImmune 
4.  UCB Pharmaceuticals 



For a company at the stage of biOasis's to engage these world-class companies in
such short order was a major milestone.


These events fit perfectly into the overall business strategy for our company,
which can be summarized as follows:




--  Obtain independent 3rd party validation of Transcend 
    
--  Expand and protect the Intellectual Property portfolio 
    
--  Advance the development of a small number of programs internally and for
    our own account - the ones that are relatively low cost, have the
    potential to achieve major milestones in the short to mid term and have
    large market potential 
    
--  Collaborate with reputable Pharmaceutical companies that are interested
    in the potential of Transcend - creating numerous shots on goal -
    leading us ultimately to commercial transactions with numerous strong
    partners or licensees. 



We cannot expect our technology to work with every potential partner's
therapeutic target, so our goal is to bring a number of collaborators to the
table. The interest we are getting from within the industry remains very
positive.


In dealing with the current collaborations underway, I wish I could share the
details; however, we are bound by confidentiality agreements to protect both our
collaboration partners and us. To preserve scientific rigor in some cases we are
"blinded" to the nature of our partner's therapeutic agent so we will not know
the outcome of the project until everything is complete. What I can tell you is
that all of our collaborations are progressing and the results we've obtained to
date have met our expectations. As well, our science and business teams at
biOasis hold regular meetings with collaboration partners to discuss the
progress of the research and exchange ideas. Each of our current collaboration
partners are large organizations, expending significant capital and internal
resources to assess our Technology for their needs. To us this highlights the
potential value Transcend may have to these organizations.


As part of our evaluation of the potential of the Transcend technology, we ran
an internal selection process to look at existing therapeutic compounds that
were known not to cross the blood-brain barrier on their own. If we could
demonstrate that our technology could get any one of these candidates across the
BBB this would address a very large unmet medical need and therefore potentially
be of interest to the owners of those compounds.


Once identified, we prioritized the list based on market size, cost to develop,
likelihood of short to mid term milestone achievement and overall risk. This
enabled us to target the companies we chose to collaborate with on our Transcend
technology and to the collaborations listed above. In addition it allowed us to
decide which programs we would advance further internally and for our own
account.


The main program we are pursuing internally is called BT2111; where we have
linked Transcend with trastuzumab (Herceptin(TM))(i). The results on this
program to date have been very encouraging. The current market for Herceptin is
greater than 5.9 billion dollars annually.


(i) Herceptin(TM) is a registered trademark of Roche/Genentech

Highlights of the BT2111 Studies:



--  The BC Cancer Research Centre showed in a human HER2+ breast carcinoma
    model, that BT2111 had an increased cancer killing effect over Herceptin
    on its own. BT2111 under their test, killed more cancer cells outside of
    the blood-brain barrier than the drug itself. This was a surprising and
    very positive development. 
    
--  Texas Technical University, after a great deal of testing, came out
    with, in our opinion, a remarkable set of results. 



It is worth some background about this study to help put it in context;



--  There were three groups of subject animals used; a control group that
    received normal saline, a group that was dosed with Herceptin alone, and
    a group that received BT2111 - all dosed intravenously. 
    
--  After a lot of prep work, all the animals were injected into the left
    ventricle of their heart with a "human" HER2+ cancer cell line. Twenty-
    one days later all the animals had on average approximated 90 brain
    tumors, and the therapeutic injections began. 
    
--  Each animal received two injections per week between day 21 thru day 35,
    meaning they received only 4 injections each. At day 35 all the animals
    where euthanized and the brains where then sectioned and sliced. The
    slices where then prepared and analyzed under a microscope. 
    
--  In a matter of two weeks with 4 injections, they found that the BT2111
    group had 68% fewer tumors than both the two other groups. 
    
--  In addition, the tumors that remained were 58% smaller in size versus
    the other two groups. 



The work on BT2111 at Texas Tech continues with a number of further tests
required to complete our pre-clinical testing of BT2111.


This program has identified two benefits for biOasis;



1.  It is a program that biOasis itself could advance further on its own and
    without a partner (as the costs of doing so are manageable) or license
    it off to a partner potentially as soon as the next set of tests are
    completed, and 
    
2.  Therapeutic antibodies are the number one drug targets for many
    Pharmaceutical companies. Due to the large size of these compounds
    delivery throughout the body becomes a major issue and in the brain it
    is the major issue. Our work on BT2111 showed the industry that
    Transcend was not only able to deliver a therapeutic antibody, but do so
    in sufficient quantity to have a therapeutic effect. 



Many of you have asked me about our Cognitest program - our test to measure
elevated levels of p97 in blood as a potential diagnostic utility for
Alzheimer's. For now we've put it on the shelf and stopped expending corporate
resources on it. We are focusing on Transcend where we see the best opportunity
to create value for our shareholders. However, work continues at UBC where fresh
human samples are being analyzed. This work is likely to continue for several
months to come. The exact time frame for these results is tough to determine,
but as soon as we have a statistically significant number of samples we will
re-assess the commercial viability of this program.


Notwithstanding all of this activity and progress, we are spending only
approximately $165,000 per month, a remarkably low burn for such technical
advancement and our current cash position is approximately $3M.


Over the next year we will focus on a number of exciting activities, including
near term objectives; the completion of the current collaborations and to
complete certain BT2111 studies underway, and mid to longer term objectives to
continue to seek and bring on new collaboration opportunities, advance our
BT2111 program as rapidly as our resources allow and bring new internal programs
that we've been working on to the forefront.


We feel biOasis is well positioned to move forward. We believe we have strong
intellectual property underpinning Transcend, excellent strategic collaborators
focused on large market opportunities, an exciting internal pre-clinical
development program and a strong team of scientists and managers at biOasis.


We have an exciting year ahead and we look forward to sharing it with you.

Sincerely,

Rob Hutchison, Founder and CEO

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.


"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release."


FOR FURTHER INFORMATION PLEASE CONTACT: 
biOasis Technologies Inc.
Rob Hutchison
Founder and CEO
(778) 383.3280
rob@bioasis.ca
www.bioasis.ca

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