RICHMOND, British Columbia, Nov. 9, 2011 (GLOBE NEWSWIRE) -- BioCurex Inc. (OTCBB:BOCX) announced today that its wholly owned subsidiary, OncoPet™ Diagnostics, Inc., has signed a distribution agreement with Webster Veterinary Supply for the distribution of the OncoPet Sample Collection Kit for canine cancer diagnosis. Webster Veterinary, is a division of Patterson Companies, Inc.
As previously announced in a press release dated September 26, 2011, OncoPet™ changed the model for the OncoPet Sample Collection Kit with the development of a kit that safely stabilizes samples for a period of two weeks at room temperature, reducing shipping costs of the samples by up to 90 percent.
Per the non-exclusive distribution agreement, Webster Veterinary will be allowed to purchase the test kits from OncoPet and distribute the OncoPet Sample Collections Kit to veterinarians, veterinary practices, veterinary hospitals and others within the United States and territories of the U.S. including Puerto Rico, Guam as well as others.
"This marks our first agreement for the distribution of the OncoPet Sample Collection Kit in the United States," stated Dr. Paul D. Slowey, President of BioCurex. "This agreement marks a significant milestone and more importantly, a third party validation of our canine RECAF™ technology as a commercially viable product. To that end, annual sales from this distribution agreement alone can potentially get the company to breakeven. We look forward to working with Webster Veterinary and to further expand our distribution network for OncoPet in the U.S. and around the world."
There are approximately 74.8 million owned dogs in the United States. On average, dog owners spent $219 on veterinary visits (vaccine, wellness visits, etc.) annually. Cancer is the cause of nearly half the deaths of older dogs (10 years and up), according to the American Veterinary Medical Association (AVMA), and according to the National Canine Cancer Foundation, canine cancer effects one out of every three dogs.
About Webster Veterinary
Webster Veterinary, a leading distributor of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to veterinary clinics, is part of the progressive, global Patterson Companies (Nasdaq:PDCO) family of businesses.
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 the Company, please visit www.BioCurex.com.
For more information about OncoPet Diagnostics Inc., please visit: www.OncoPetDiagnostics.com.
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 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, such as forecasts of future sales, involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.