RICHMOND, British Columbia, April 27, 2006 (PRIMEZONE) -- Biocurex (Pink Sheets:BOCX) is pleased to update its shareholders regarding its progress in various arenas:
The recent announcement of our technology's ability to detect early stage breast cancer (Stage I and II) with over 90% sensitivity is excellent news for our shareholders. This result substantiates the long term work which we have done on tissue samples and particularly on blood samples. The new focus on early stage cancers came about due to a continued effort to improve the RECAF blood test in order to maximize the company's position in discussion with present and potential licensees. Our original test type was designed for "proof of concept" to biopharma companies, who would then incorporate our technology with their proprietary technology within their own systems. The licensing deal with Abbott Laboratories is based upon this principle.
The Company has discussed terms with other potential licensees. These discussions were based on our "proof of concept" blood test and it became apparent that we would have a better negotiating position with large biopharma companies if a new test format was developed. Given the semi-exclusive nature of our licensing agreement with Abbott -- which effectively limits the number of licensees -- we have declined offers which could have negatively affected our overall royalty streams.
We determined that a colorimetric blood test using RECAF for cancer detection would be simpler to use and more readily shipped to various labs and companies than our current test that employs low doses of radioactivity. The improvements resulting from this work have magnified the measured differences in serum values for RECAF between normal and cancer patients. This large difference between cancers and normal patients not only allows the detection of smaller tumors, (as recently shown for breast cancers where we can now detect 90% of early stages I and II); but it is also a requirement for a "yes/no" rapid test similar to a pregnancy test that could be used directly in the doctors' offices.
There is good reason to believe that we can detect other types of early cancer with our new format. Therefore, if these results are confirmed for other malignancies, the work done in the past few months could result in a broad spectrum cancer test that could catch very early cancers; when they are mostly curable.
Our focus on improving the technology has enhanced our opportunities for maximizing our negotiating position in licensing discussions. The new test format will be directly compatible with many of the larger biopharma companies' proprietary systems and that can expedite their evaluation since their workload to implement the test in their instruments would be minimal. Simply stated, "the less work they have to do to adopt the technology, the more likely they are to license."
We have also advanced our science to improve cancer imaging, along the lines of the project with the Goshen Cancer Centre announced previously. This will also allow us to pursue the other uses of the technology including Therapeutics, where we have enticing preliminary results.
Our efforts to expose the Company to the investment community are increasing and the Company continues to deliberately pursue alternative quotation of its shares.
If our RECAF technology is exposed in progressive scientific publications and congresses in the future, we believe the medical arena will recognize the value of RECAF in assisting with the diagnosis of cancers in patients with symptoms; following patients who have had cancers in the past; screening the at-risk population. We thank our shareholders for their support and patience.
About BioCurex:
BioCurex, Inc. is a biotechnology company that is developing products based on patented/proprietary technology in the areas of cancer diagnosis, imaging and therapy. 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.
BioCurex has signed a licensing agreement with Abbott Laboratories for BioCurex's RECAF(TM) Cancer technology. Studies from the investigators at BioCurex and elsewhere have reported a high level of clinical sensitivity and specificity for RECAF in many of the most common cancers, including prostate, breast, colorectal, lung and others.
To read more about the Company, please visit the News section in our web site (www.biocurex.com).
Note:
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 massive distribution of this material by e-mail or facsimile by unauthorized parties. 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.