Biocure Corporate Update
Vancouver, British Columbia–(Newsfile Corp. – March 25, 2022) – Biocure Technology Inc. (CSE: CURE) (OTCQB: BICTF) (“Biocure” or the “Company”) is pleased to provide the following operational and investment update to the market and its stakeholders.
BPK is currently under way to develop ROR1 CAR-T for a chronic leukemia treatment and Innovative CAR-T which can treat lung and ovarian cancer. All new CAR-T products under development are a bi-specific (dual antibody binding) CAR-T and made in a combination that can resolve the recurrent issues and side effects of the existing CAR-T.
In order to obtain patents for those new CAR-T technologies, BPK has completed to develop a new structural gene for CAR T and is under the evaluation of its efficacy by In-vitro tests for patent application. The new structural gene shall consist of bi-specific CAR T and play a critical roll to enhance performance of T Cell to attack and kill cancer cells. This new gene can be applied to different kind of cancers, being a part of a bi-specific CAR T.
With thorough understanding about the characteristics of cancer cells obtained from our accumulated expertise of CD-19 CAR T project, our new bi-specific CAR-T technologies are being developed to become activated only when CAR-T is bound to the cancer cells. Thus, our new CAR-T technologies could dramatically contribute to the improvement of therapeutic performance and reduction of side effects.
As the very first step of the Company’s patent strategies, BPK plan to apply its patent for the new structural gene, covering a broad range of solid tumors, as the structural gene can work in CAR T for more than one specific cancer. BPK will apply for more patents in 2022 for bi-specific CAR T targeting CLL and other solid tumors, using the patented structural gene
In addition, BPK is one step way from the completion of development for another Innovative CAR-T model that destroys the PD-1/PDL-1 system which is the most important self-defence mechanism of cancer cells. This technology could disarm the tumor microenvironment (TME) that cancer cells run for self-defence and equip CAR-T with a new mechanism that supports CAR-T to work more effectively on cancer cells to treat lung and ovarian cancer.
BPK is in close discussion for a partnership with a Korean company who is interested to set up Contract Development & Manufacturing Company (“CDMO”) business. It will make the Company more focused on the research and development of technologies, where manufacturing could be done at the GMP facility of such a CDMO partnership.
The Company also announced that the land purchase agreement (the “Agreement”) with Korea Land & Housing Corporation (“KLHC”) announced on December 18, 2017 was terminated on Mar. 25, 2022. The installment funds have been paid by BPK are expected to be refunded to BPK after deduction of interests, where the down payment shall be forfeited.
About Biocure
Biocure is a leading biotech company developing its CAR-T cell therapy for leukemia, lung, breast and pancreatic cancer. Biocure, headquartered in Korea, has joint venture partners in Asia and Europe with planned clinical trials commencing in 2021. Biocure is in the process of pre-clinical trials of five major biosimilar products in South Korea, including Interferon Beta 1b, PEG- Filgrastim as well as Ranibizumab. 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 mascular 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.
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 info@biocuretech.com
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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