GUILFORD, Conn.--(BUSINESS WIRE)--BIOASIS TECHNOLOGIES INC.  (OTCQB:BIOAF; TSX.V:BTI), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 TM platform technology for the delivery of therapeutics across the blood-brain barrier (the “BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, today announced the close of its previously announced private placement of units, (the “Units”) by issuing an aggregate of 4,588,978 Units at a price of C$0.28 per Unit, for gross proceeds of C$1,284,914.

About Bioasis

Bioasis Technologies Inc. is a biopharmaceutical company developing the xB3 TM platform, a proprietary technology for the delivery of therapeutics across the BBB and the treatment of CNS disorders in areas of high unmet medical need. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. Bioasis’ internal pipeline programs are focused on treatments for orphan indications, including certain brain cancers, and rare diseases, including Gaucher’s Disease Type II. The Company maintains headquarters in Guilford, Connecticut. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For more information about the Company, please visit www.bioasis.us.