Bioasis Technologies Inc. Announces Termination of Arrangement Agreement with Midatech Pharma plc

NEW HAVEN, Conn., Jan. 23, 2023 (GLOBE NEWSWIRE) — BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI) (the “Company” or “Bioasis”), a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factor and a differentiated, proprietary xB³ ™ platform for delivering therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, today announced that it has terminated the arrangement agreement (the “Arrangement Agreement”) dated December 13, 2022, as amended December 18, 2022, between Bioasis and Midatech Pharma plc (“Midatech”). The Arrangement Agreement provided for Midatech’s acquisition of all of Bioasis’ issued and outstanding shares in exchange for ordinary shares of Midatech by way of a statutory plan of arrangement under the laws of British Columbia (the “Arrangement”).

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