Biocure Enters into Exclusive Joint R&D Agreement with Pharos Vaccine Inc. for Overseas Market of CAR T-Cell Products
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2019) - Biocure Technology Inc. (CSE: CURE) (OTCQB: BICTF) (formerly Gravis Energy Corp.) (the "Company" or "Biocure") is pleased to announce that Biocure Pharm Corp.("BPK"), a subsidiary of the Company has entered into an agreement with Pharos Vaccine Inc. for the development of overseas marketof CAR T-cell products on exclusive basis. The two Companies will work together in developing anti-CD19 CAR T-cell therapy products, conduct preclinical, clinical trials and commercialize anti-CD19 CAR T-cell therapy products overseas to treat leukemia and lymphoma patients. Some of the highlights of collaborative R&D work scopes in the Agreement include:
1)Manufacture of products for preclinical trial of Contract Product
2)Preclinical trial of Contract Product
3)Manufacture of 3 batch of test product for clinical trial application of Contract Product
4)Application for clinical trial of Contract Product
5)Manufacture of product for clinical trial of Contract Product
6)Clinical trial of the Contract Product
7)Establishment of manufacturing technology and SOP of Contract Product
8)Establishment of QC test method and SOP of Contract Product
9)Preparation of safety / efficacy data of Contract Product
10)Establishment and operation of GMP Facility of Contract Product
11)Biologics License Application (BLA) of Contract Product
12)Obtaining the product registration and (conditional) sales permit for Contract Product
Pharos and BPK (collectively "Parties") have agreed on the exclusive manufacturing and marketing rights of anti-CD19 CAR T-cell products for 15 years from the starting date of sales in the markets.The territories BPK shall have exclusive rights under this Agreement are all the countries except China.
Dr. Sang Mok Lee, a CEO and President of Biocure as well as BPK states, "I am pleased to have this agreement executed with Pharos to be clear about what both firms are supposed to do for the development of world market of CAR-T Cell products beyond Korea market.Biocure has finished successfully pre-clinical trial in Korea last September 2018 and now plans to start a clinical trial in the Q3 this year.Our next goal shall be developing overseas market by implementing clinical trials in those countries we are targeting to enter into.By this Agreement, Pharos and Biocure could have clear paths on what roles each firm should play in the development of world markets."
Biocure is a South Korean based Bio Pharmaceutical company specializing in the development and potential commercialization of biosimilar pharmaceutical products. Biocure is in the process of pre-clinical trials of five major biosimilar products in South Korea, including Interferon Beta 1b, PEG-Filgrastim and Ranibizumab as well as CAR-T Cell Therapy. 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 macular 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. Biocure is also developing a foot and mouth disease vaccine and a hair growth production product.
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,
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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