Biocure Technology Corp Announces a MOU with the Government of Uzbekistan and Gold-Dream LLC to Build a Manufacturing Plant to Produce Biosimilars

- February 19th, 2019

Biocure Technology Corp. (CSE:CURE) (OTC:BICTF) (“CURE” or the “Company”) BiocurePharm, Korea (“BPK”), a wholly owned subsidiary of Biocure Technology Inc. (“CURE”) has entered into a Memorandum of Understanding with the Agency of Development of the Pharmaceutical Industry under the Ministry of Health, The Republic of Uzbekistan (herein after called “MHU”) and Gold-Dream LLC (herein after called “GDL”) on Feb 15th, 2019 in Korea.

Biocure Technology Corp. (CSE:CURE) (OTC:BICTF) (“CURE” or the “Company”) BiocurePharm, Korea (“BPK”), a wholly owned subsidiary of Biocure Technology Inc. (“CURE”) has entered into a Memorandum of Understanding with the Agency of Development of the Pharmaceutical Industry under the Ministry of Health, The Republic of Uzbekistan (herein after called “MHU”) and Gold-Dream LLC (herein after called “GDL”) on Feb 15th, 2019 in Korea. The delegates from MHU visited the city of Daejeon where BPK is located, for the signing of the MOU and for a tour of the GMP (“Good Manufacturing Practice”) standard facilities. The delegates also met with municipality officials from the city of Daejeon.

The main purpose of this MOU is to advance the discussions regarding a Joint Venture Project in Uzbekistan to produce biopharmaceuticals, basic drugs and vaccines required for Uzbekistan people (hereinafter called “Project”) and to further develop the pharmaceutical business in Uzbekistan. MHU is very interested in promoting and growing the pharmaceutical industry in their nation and would like to invite BPK and GDL to construct manufacturing facilities of pharmaceuticals with the investment of U$82million. GDL shall finance the Project, whilst BPK is will supply the technology and the intellectual properties to produce the designated drugs and vaccines.

Dr. Lee, CEO and President of CURE comments, “It is very exciting for us to receive interest from MHU and we welcomed the delegates for a site visit. I believe that MHU understands that our biosimilar technologies could make a large contribution to the development of the pharmaceutical industry in The Republic of Uzbekistan. This is very well aligned with our business model and strategy under which we always have pursued opportunities to build manufacturing facilities in those countries that need and can benefit from more affordable biosimilars with our technology. This non-binding MOU is the vert first step to move forward to achieve such a goal of CURE.”

About MHU and GDL

Agency of Development of the Pharmaceutical Industry is a government organization under the Ministry of Health of The Republic of Uzbekistan.

Gold-Dream LLC is an Uzbekistan entity set up by a Korean Doctor who is a pioneer to dedicate himself to provide Korean medical services for Uzbekistani people. GDL financed the project to build a hospital in Uzbekistan, which is currently under construction.

About Biocure

Biocure is a South Korean based Bio Pharmaceutical company specializing in the development and potential commercialization of biosimilar pharmaceutical products. Biocure is in the process of pre- clinical trials of five major biosimilar products in South Korea, including Interferon Beta 1b, PEG- Filgrastim and Ranibizumab as well as CAR-T Cell Therapy. Interferon Beta 1b is used for treating relapsing forms of multiple sclerosis (“MS”) Filgrastim is used to treat neutropenia, a lack of certain white blood cells caused by bone marrow transplants, chemotherapy, and other conditions. Ranibizumab is used for treating macular degeneration. It is also used to treat a type of eye problem known as macular edema, as well as certain eye problems caused by diabetes. Biocure is also developing a foot and mouth disease vaccine, and a hair growth production product.

ON BEHALF OF THE BOARD OF DIRECTORS

/S/ “SANG MOK LEE”
CEO and Director

For further information, please contact:

Biocure Technology Inc. Telephone: 604-609-7146, or

Rebecca Greco
Investor Relations
(416) 822-6483

Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company’s proposed activities under the Agreement and the expectations of the Company regarding funding payments due pursuant to the Agreement. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements. Neither the Canadian Securities Exchange (the “CSE”) nor the Investment Industry Regulatory Organization of Canada) accepts responsibility for the adequacy or accuracy of this release.

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