RANCHO SANTA MARGARITA, Calif., April 3, 2003 (PRIMEZONE) -- BioCurex Inc. (OTCBB:BOCX) today announced that BioLargo technologies Inc. has negotiated a joint venture marketing agreement with Cryopak Industries Inc. and IOWC Technologies Inc., of Edmonton, AB, effective immediately. BioCurex, formerly a controlling shareholder of BioLargo, now holds a minority equity interest in BioLargo.
Extracts of the Cryopak press releases from March 26, 2003 follow:
"The joint venture will market the BioLargo product line-up, in particular the ZD-SORB(TM) and the BI2O-SORB(TM) Blood Transport Product. BioLargo's patented technologies relate to the incorporation of anti-infective agents into fabric-type absorbent webs to make products that neutralize bio-hazardous materials, are biodegradable, and may be disposed of in the normal waste stream.
"These technologies are important to Cryopak, especially in the area of blood shipments. Since January 1, 2003, new regulations by the International Air Transport Association require that all blood shipments be packaged with acceptable absorbent products to ensure the safety of package handlers. In addition, and perhaps of more significance, one of BioLargo's products also aids in temperature-maintenance of products during transit and the combination with the Flexible Ice(TM) Blanket will be significant for the safe and sure transport of blood products. In fact, Cryopak has already participated with BioLargo in a combination `pack-out' through Blood Systems Inc. for the shipment of blood products. Sales of BioLargo products are expected to commence immediately. The initial joint venture is for a one-year period during which Cryopak retains an option to convert this arrangement into a long-term licensing agreement. BioLargo/IOWC will continue to develop their line of products for the benefit of the joint venture and will accelerate the commercialization of their temperature maintenance applications."
In a press release dated March 26, 2003, Cryopak's CEO and President John Morgan stated:
"BioLargo's products and industry knowledge are a great fit for Cryopak, and will move us further toward our vision of being the premium supplier of temperature-controlling packaging solutions. Their products are compatible for use with the Flexible Ice(TM) Blanket, and are used in the shipment of a vast range of bio-medical products where spoilage and contamination are of concern, including blood and diagnostic specimens where absorbents are now mandated."
About BioLargo
BioLargo Technologies, Inc. is a private Canadian technology-transfer corporation that distributes its patented technology products to major international corporations involved in the bio-medical field.
BioLargo's technologies are incorporated mainly within air-laid, non-woven fabrics to produce disposable products that are lightweight, super-absorbent, yield a safe yet disinfecting dose of iodine, are biodegradable, and can be disposed of as normal household waste even though they were used to disinfect and deodorize infectious bio-hazardous matter. Among the many possible end-uses are diapers, other hygiene disposables, medical or consumer wipes, and absorbents that are mandated for the transportation of blood and diagnostic specimens. For more information visit: www.biolargo.com.
About Cryopak
Cryopak Industries Inc. develops, manufactures and markets quality temperature-controlling products such as the premium patented Cryopak Flexible Ice(TM) Blanket, flexible hot and cold compresses, gel packs, and instant hot and cold packs. The products are used during transport to ensure critical temperature maintenance for pharmaceuticals, blood, airline food and beverages, seafood and all other perishable items. Cryopak's products are also used for first aid, medical and physiotherapy treatments, and, through retail distribution, for daily all-purpose chilling applications. With more than 10 years of experience in research and development, we also offer expert testing and consulting services to help companies optimize their cold-chain management programs. For more information visit: www.cryopak.com.
BioCurex is pleased to provide this information to its shareholders and wishes the parties success in this venture.
About BioCurex
BioCurex, Inc. is a biotechnology company that is developing products based on patented/proprietary technology in the areas of cancer diagnosis, tumor imaging ad therapeutics. The technology identifies a cancer marker known as RECAF(tm), which is found on malignant cells from a variety of cancer types but is absent in most normal or benign cells. The Histo-RECAF(tm) kits provide proof of concept for the RECAF technology. Detailed information about BioCurex may be obtained from their website at http://www.biocurex.com.
Note:
Statements in this press release, which are not historical facts, are "forward-looking statements" within the meaning given to that term in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. The Company has not authorized the release of this information in any form that contravenes the Communication Act and will not be responsible for unsolicited distribution of this material by e-mail or facsimile by unauthorized parties.