NEW HAVEN, Conn., Jan. 11, 2023 (GLOBE NEWSWIRE) — BIOASIS TECHNOLOGIES INC. BIOAFBTI)) (the “company” or “bioase“), a multi-asset orphan and rare 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 treatment of the central nervous system (“CNS“) Conditions in Areas of High Unmet Medical Need, announced today that it has completed the management information circular (the “Circular“) and related materials for the annual and special meeting (the “meeting“) by Bioasis Securityholders to approve the previously announced Scheme of Agreement pursuant to the Commercial Corporations Act (British Columbia) (the “arrangement“), after which Midatech Pharma plc MTPMTPH)) (“Midatech“) has agreed to purchase all of the issued and outstanding common shares of Bioasis (the “transaction“), all as more fully described in Bioasis’ circular and press release dated December 13, 2022.

The meeting is to take place virtually at meetnow.global/MUTHYPM on February 3, 2023 at 1:00 p.m. (Vancouver time). Holders of Bioasis securities of record as of the close of business on December 30, 2022 are entitled to receive notice of and vote at the meeting.

The Board of Directors of Bioasis (the “plank“) has, after consultation with its financial and legal advisers and based, inter alia, on the Fairness Opinion of Evans & Evans, Inc., unanimously determined that the Arrangement is in the best interests of Bioasis and that the Consideration is fair to the Bioasis Shareholders pursuant received under the Arrangement is fair to Bioasis Shareholders. The Board unanimously recommends that Bioasis Shareholders vote in favor of the Arrangement.

On January 4, 2023, the British Columbia Supreme Court (the “court“) issued an injunction providing for the calling and holding of the meeting and certain other matters…