BioCure Technology Inc. (CSE:CURE, OTCQB;BICTF) (“BioCure” or the “Company”) is pleased to announce that its wholly owned subsidiary BiocurePharm Corporation (“BP Korea”), has implemented the preclinical trial of Interferon Beta 1b since late 2017 and is pleased to update shareholders on their progress.
BioCure Technology Inc. (CSE:CURE, OTCQB;BICTF) (“BioCure” or the “Company”) is pleased to announce that its wholly owned subsidiary BiocurePharm Corporation (“BP Korea”), has implemented the preclinical trial of Interferon Beta 1b since late 2017 and is pleased to update shareholders on their progress. BP Korea announces that it has completed most of the toxicity testing and has developed MCB (Master Cell Bank) and WCB (Working Cell Bank). Currently, BP Korea is in the middle of in-Vivo potency test. The Company has already produced 35,000 vials of Interferon Beta 1b for their pre-clinical trial and stability test at the GMP manufacturing facility in Korea. BP Korea expects the pre-clinical trial shall be completed by the end of Q1, 2019 and will advance to clinical trial in 3Q 2019.
Dr. Sang Mok Lee, CEO comments “We are making every effort to commercialize Interferon Beta, 1b, the first Biosimilar of the Company by 2021. BP Korea is in discussion with potential foreign partners to implement a clinical trial and produce Interferon Beta 1b in their countries through a partnership, once the pre-clinical trial is completed in Korea. We strongly believe that such partnerships could provide patients in those countries with much more affordable access to Interferon Beta.”
About Biocure Technology Inc.
Biocure Technology Inc. is a South Korean-based biopharmaceutical company, specializing in the development and commercialization of CAR-T therapy for ALL(Acute lymphoblastic leukemia) and major biosimilar products. Biocure is in the process of preclinical trials of five major biosimilar products in South Korea, including interferon beta 1b, PEG-filgrastim and ranibizumab, as well as CAR-T-cell therapy. 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
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.