biOasis Technologies (
TSX-V:BTI,
StockForum), a Vancouver-based development stage biopharmaceutical firm engaged in the research and development of diagnostic products and treatment of neurological diseases and disorders, announced today that the company had been granted a key patent for its lysosomal storage disease therapeutic.
According to the
news release, the patent covers methods employed with the use of biOasis’ brain penetrating drug delivery vector, Transcend, combined with a lysosomal storage disease enzyme for the treatment of lysosomal storage diseases (“LSD”).
The release went on to note that, “Specifically, the Transcend-coupled enzymes claimed in the patent allowance include those that are used clinically as enzyme replacement therapies to treat lysosomal storage diseases, such as Hunter Syndrome, Hurler syndrome and others.”
Company CEO, Rob Hutchison, commented, “These patent allowances in Canada and Europe complement our existing issued LSD-related U.S. patent and mark another major step towards international exclusivity in the rare disease market.”
He then concluded, “We believe it helps validates our Transcend vector technology for treating LSD and particularly its special ability to deliver therapeutic compounds across the blood-brain barrier.”
biOasis was in the news recently when
the company entered into a license agreement with Medimmune for second generation versions of the company’s Transcend.
Shares rose 5.71% on the news to $1.11 per share.
Currently there are 41.8m outstanding shares with a market cap of $46.4 million.