Bioasis Technologies (BTI.V) announced they are entering into a research collaboration with Oxyrane UK.
As Equity Guru previously reported, Bioasis is developing the xB³ platform, which aims penetrate the blood-brain barrier (BBB) in order to deliver drug molecules that could treat brain cancers and other neurodegenerative diseases. The goal of this platform is to help transport large enough doses of medicine to have a therapeutic effect, which it aims to do through a process called receptor-mediated transcytosis.
“We have been impressed by Bioasis’ technology for BBB delivery of enzyme replacement therapy and our technologies are very complementary so this collaboration is a natural fit. Oxyrane’s technology produces ERTs with enhanced cellular uptake and superior pharmacodynamics in a cost-efficient manner which we believe will be an overall benefit to patients,” commented Dr. Wouter Vervecken, the CEO of Oxyrane.
Oxyrane develops enhanced enzyme replacement therapies (ERTs) for the treatment of lysosomal storage diseases, with a focus on the diseases of the central nervous system. Lysosomal storage diseases (LSDs) are inherited metabolic diseases that are characterized by an abnormal build-up of various toxic materials in the body’s cells as a result of enzyme deficiencies. LSDs can have a wide variety of effects, including spleen and liver enlargement, blood problems, and bone issues; some LSDs can even cause severe burning pains in the hands and feet. Not fun.
There is currently no approved treatment for many lysosomal storage diseases. Oxyrane wants to help change that, and their treatment plan of choice, ERT, is a medical treatment whereby replacement enzymes are given to patients who suffer from chronic conditions resulting from enzyme deficiencies or malfunction.
“We are excited to be collaborating with Oxyrane on this initiative to evaluate the combination of both our technologies to meet an unmet need for patients with LSDs for enzyme replacement therapies with greater efficacy. Bioasis’ technology has demonstrated preclinical success in delivering enzyme replacement therapy into the brain and the aim of this collaboration is to fast track the development of a next generation approach to enzyme replacement therapy with the potential for improved peripheral activity combined with brain penetrance to address neurological symptoms,” stated Dr. Deborah Rathjen, Bioasis’ Executive Chair.
Oxyrane enzyme therapies are engineered in a way to enhance their targeting and activity. This is achieved using proprietary engineered yeast expression technology that produces proteins with defined human phosphoglycosyl structures required for effective intracellular uptake and localization. Their technology leverages a molecular modification that is naturally present on the enzymes, without introducing any non-native modifications, which allows for more efficient uptake.
By combining their technology and expertise, both Bioasis and Oxyrane can benefit from collaboration.
In other news, Bioasis appointed Dave Jenkins as their Chief Financial Officer.
“I am delighted to join Bioasis at a time when the company is preparing to reach major milestones in its development,” stated Jenkins. “I am excited by the potential of the Bioasis xB3™ platform technology and admire the team’s focus and vision on bringing transformational therapies to patients with brain cancers and neurological diseases. I look forward to contributing to Bioasis’ success and supporting its mission.”
Jenkins has more than 35 years of experience in accounting and finance, including 31 years at PricewaterhouseCoopers (PwC), where he was an audit partner, serving multinational public companies, private equity portfolio companies, and venture-backed growth companies. He also has his own advisory practice, Forest View Consulting, focused on high-growth technology and bioscience companies, which he helps develop strategic business models.
Jenkins brings experience and relevant expertise to his new role as CFO.
“On behalf of our Board of Directors and our management team, it is my pleasure to welcome Dave to Bioasis. Dave has a proven track record in finance and accounting, including financing transactions, business development, strategic planning, and guiding companies through significant growth. His contributions will be critical as we continue to execute on our mission to advance our internal pipeline and license our proprietary xB3™ platform technology,” commented Dr. Rathjen.
As with all new beginnings, and old era must come to an end, and so with that the board said goodbye to Christine Antalik, their old CFO.
“The Board and management thank our outgoing CFO, Ms. Christine Antalik, for her contribution to Bioasis over the past several years and wish her every success in future endeavours,” added Dr. Rathjen.
Biaosis shares are up 3 cents today and are currently trading at $0.37.
Full disclosure: Bioasis Technologies are an Equity Guru marketing client.
