Tailwinds’ Take: new CEO Mark Day continues to build out a professional team as they look to take biOasis to the next level. We continue to believe that, for early stage biotech, this is the best risk/reward we have seen.
VANCOUVER, BC, BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), a biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier (BBB) and into the central nervous system for the treatment of neurological diseases and disorders, today announced the appointment of Christopher P. Lowe, M.B.A., as chief financial officer and board advisor. Lowe will report to Mark Day, Ph.D., president and chief executive officer of biOasis and be responsible for the company’s corporate and financial strategy, including transactions and fundraising.
“Chris is an impressively accomplished executive who brings the significant corporate and financial strategy, transactional, fundraising and M&A expertise needed in order to advance the company forward,” said Dr. Day. “We are fortunate to have him join us and I truly look forward to working with Chris during this transformational time for biOasis.”
“I believe in the incredible potential of the biOasis proprietary blood-brain barrier technology platform. I am eager to work with Mark, the board of directors and the leadership team to develop a meaningful path forward for biOasis,” said Lowe.
About Christopher P. Lowe, M.B.A.
Christopher P. Lowe, M.B.A., has over 15 years of senior management experience as president, chief business officer and chief financial officer (CFO) of various private and public life sciences, medical technology and technology companies. Since January 2014, Mr. Lowe has been a partner at FLG Partners, a leading CFO services and board advisory firm in Silicon Valley, where he also sits on FLG’s Management Committee. Prior to joining FLG, Lowe served as a strategy, financial and management consultant to several public and private companies, assisting them with financings, market due diligence, Wall Street communications and exits. Additionally, he has served as a member of the board of directors of both public and private companies, and has chaired their respective audit committees and compensation committees. Lowe helps companies succeed by assisting them with corporate and financial strategy, including early stage financing, successive fundraising and initial public offerings (IPO), public company advising and Wall Street communications, licensing transactions, mergers & acquisitions (M&A), restructurings and coaching at every level of the C-Suite. Lowe excels at helping companies navigate the challenges of accessing capital, M&A, licensing, restructurings and exits.
During his career as a C-level executive, Lowe has successfully raised over $500M in private and public financings, completed over $1.0B in M&A transactions, negotiated over $300M in debt instruments for companies, and has overseen three SOX-404 implementations. Lowe has been chief executive officer and president of Inspyr Therapeutics, Inc., since Aug. 2, 2016 and also serves as its CFO. Lowe has been chief accounting officer of Diadexus, Inc., since Dec. 22, 2014 and served as its interim CFO. He served as an interim CEO of Hansen Medical, Inc., from February 2014 to May 23, 2014. He served as an interim CFO and principal accounting officer of Hansen Medical, Inc., from June 10, 2014 to July 27, 2016.
As vice president and chief accounting officer, he drove a parallel M&A and IPO path resulting in the sale of Peninsula Pharmaceuticals to Johnson & Johnson for over $300M in 2005, including the design of a tax efficient spinout for assets which were undervalued by Johnson & Johnson. As CFO of Asthmatx, a medical technology company, he actively drove strategic supply negotiations and led the parallel M&A and IPO process resulting in a $50M strategic investment from Olympus Medical and ultimately the sale of the company to Boston Scientific in a deal valued at approximately $400M. As its CFO, he also took Anthera Pharmaceuticals, a pharmaceutical development company, public in 2010 during the height of the financial crisis, raising over $300M in both the private and public markets during his tenure.
Lowe earned his bachelor of science degree in business administration from California Polytechnic State University, San Luis Obispo, and a master’s of business degree from St. Mary’s University. Lowe currently sits on the board of directors of the following public and private companies: EpiBiome (private; 2016-present); Hansen Medical (NASDAQ: HNSN; 2006-present); Pacific Pharmaceuticals (private; 2010-present); and Career Closet (Non-Profit; 2009-present).
biOasis Technologies Inc. is a biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the blood-brain barrier (BBB). The delivery of therapeutics across the BBB represents the single greatest challenge in treating neurological disorders. The company is developing and commercializing the xB3 platform, biOasis’ proprietary blood-brain barrier delivery technology, to address unmet medical needs in the treatment of central nervous system diseases and disorders. The company maintains headquarters in Vancouver, Canada with offices in Connecticut, United States. biOasis trades on the OTCQB under the symbol “BIOAF” and on the TSX Venture Exchange under the symbol “BTI.” For more information about the company please visit www.bioasis.ca.
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: products that we develop may not succeed in preclinical or clinical trials, 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.
On Behalf of the Board of Directors
Mark Day, Ph.D.
President & Chief Executive Officer
biOasis Technologies, Inc.
“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”