RICHMOND, British Columbia, Sept. 30, 2010 (GLOBE NEWSWIRE) -- BioCurex Inc. (OTCBB:BOCX) announced the commercial launch of its RECAF blood test for cancer in dogs through its wholly owned subsidiary, OncoPet Diagnostics.
"After announcing the formation of OncoPet Diagnostics, we were contacted and have been in discussions with potential exclusive licensing interests," said OncoPet Diagnostics President Dr. Ricardo Moro-Vidal. "After several rounds of negotiation, we have determined that launching this clinical veterinary service is of more long-term value to shareholders than selling exclusive rights to OncoPet RECAF. While coming to this conclusion, we continued to collect valuable data that we have incorporated into our products. The decision to continue with our original plan will allow us to start engaging distributors on a timely basis."
"OncoPet Diagnostics will provide testing services in a similar manner to traditional clinical laboratories," said BioCurex Executive Chairman Denis Burger, Ph.D. "One notable distinction is that we will produce all the necessary reagents for the test and the testing service will be performed in-house at our BioCurex facilities. This ensures a high degree of accountability, is more profitable than selling test kits and requires no regulatory approvals."
As previously indicated, OncoPet Diagnostics will pre-sell vouchers to distributors, each valid for one test. The distributor then will sell the vouchers to the veterinarians who will send the voucher with the sample to the OncoPet testing facility. OncoPet Diagnostics has developed a sophisticated software system to manage the ordering, testing and reporting process. This system can be efficiently replicated, which allows for future expansion with minimal expense, as well as facilitate remote monitoring and quality control.
The processing capacity of OncoPet's current testing facilities is estimated to be approximately 1,000 RECAF tests per day. In British Columbia alone, with a population exceeding 4 million, over 120,000 routine blood tests are carried out on pets every year. The company is in discussions with distributors in North America and Europe.
"The fact that we are commercializing the OncoPet RECAF test directly does not preclude us from licensing our technology or joint venturing with other veterinarian diagnostic companies, provided they do not demand an exclusive agreement," noted Dr. Burger. "Each particular opportunity will be evaluated on an individual basis."
"It is important to keep in mind that the OncoPet RECAF test for companion animals is not a substitution for our RECAF tests designed to detect cancer in human patients, but rather an addition aimed to accelerate revenue generation while the human tests move through the pre-marketing phases before commercialization," said Dr. Moro-Vidal. "This represents a major step in our diligent work on all fronts to make BioCurex, Inc. a commercially successful enterprise."
For more information about OncoPet Diagnostics Inc., please visit: http://www.oncopetdiagnostics.com.
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 and with Inverness Medical Innovations. For further information on these agreements visit:
For more information about the Company, please visit . For more information about OncoPet Diagnostics Inc., please visit: .
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.
CONTACT: BioCurex, Inc. Antonia Haughton (604) 207 9150 http://www.biocurex.com Investor Awareness, Inc. Investor Relations Contact: Tony Schor James Foy (847) 945 2222 http://www.investorawareness.com