RICHMOND, British Columbia, May 13, 2011 (GLOBE NEWSWIRE) -- BioCurex, Inc. (OTCBB:BOCX) announced today that its wholly owned subsidiary, OncoPet Diagnostics, has entered into a distribution agreement for its companion animal OncoPet RECAF™ cancer detection test with United Lee Corporation (UL Corp), based in Seoul, Korea. The agreement is exclusive for the distribution of companion animal RECAF tests throughout Korea.
Since 1994, UL Corp has continued to be a leading importer and distributor of medical devices and equipment into Korea from manufacturers around the globe. UL Corp is widely recognized as a leading distributor for introducing new technologies and concepts into the Korean healthcare market. In addition, in 2002, UL Corp established a hospital consulting business in Hanoi, Vietnam.
"By signing an agreement with UL Corp, we are continuing to extend our distribution area in Asia and look forward to offering our RECAF test, which will now provide veterinarians with the first test ever to diagnose and treat cancer in companion animals at an affordable cost," said OncoPet Diagnostics President and BioCurex CEO Dr. Ricardo Moro-Vidal.
"Both in Taiwan and in Korea, the tests will be performed at local laboratories thus ensuring affordable and timely service."
About BioCurex, Inc.
BioCurex, Inc. is a biotechnology company that is developing products based on patented and proprietary technology in the area of cancer diagnostics. The technology identifies a universal cancer marker known as RECAF.
RECAF is a molecule that is present on cancer cells but not detected in significant levels on healthy cells or benign tumor cells. It is the receptor for alpha-fetoprotein and is classified as an oncofetal antigen due to its presence on both fetal and malignant tissues. This characteristic makes RECAF a more accurate indicator of cancer than most current tumor markers.
BioCurex is commercializing its technology through licensing arrangements with companies that develop and market diagnostic tests for the large automated clinical laboratory setting, through development and marketing of non-automated clinical laboratory tests, through development of rapid, point-of-care test formats, and through marketing of its OncoPet RECAF test for cancer in companion animals.
BioCurex has signed licensing agreements for its cancer detection blood tests with Abbott Laboratories (NYSE:ABT) and with Alere (NYSE:ALR), formerly Inverness Medical Innovations (NYSE:IMA). For further information on these agreements visit: http://sec.gov/Archives/edgar/data/1092562/000100487808000117/sb2amnd4s1april08.txt.
For more information about BioCurex, please visit www.BioCurex.com/" target="_top" rel="nofollow">www.BioCurex.com.
For more information about OncoPet Diagnostics Inc., please visit: www.OncoPetDiagnostics.com/" target="_top" rel="nofollow">www.OncoPetDiagnostics.com.
For more information about United Lee Corporation, please visit www.ulcorp.co.kr
Forward-Looking Statements
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. 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.