Biocure Technology Corp Announces a MOU with the Government of Uzbekistan and Gold-Dream LLC to Build a Manufacturing Plant to Produce Biosimilars
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2019) - Biocure Technology Corp. (CSE: CURE) (OTCQB: BICTF) ("CURE" or the "Company") BiocurePharm, Korea ("BPK"), a wholly owned subsidiary of Biocure Technology Inc. ("CURE") has entered into a Memorandum of Understanding with the Agency of Development of the Pharmaceutical Industry under the Ministry of Health, The Republic of Uzbekistan (herein after called "MHU") and Gold-Dream LLC (herein after called "GDL") on Feb 15th, 2019 in Korea. The delegates from MHU visited the city of Daejeon where BPK is located, for the signing of the MOU and for a tour of the GMP ("Good Manufacturing Practice") standard facilities. The delegates also met with municipality officials from the city of Daejeon.
The main purpose of this MOU is to advance the discussions regarding a Joint Venture Project in Uzbekistan to produce biopharmaceuticals, basic drugs and vaccines required for Uzbekistan people (hereinafter called "Project") and to further develop the pharmaceutical business in Uzbekistan. MHU is very interested in promoting and growing the pharmaceutical industry in their nation and would like to invite BPK and GDL to construct manufacturing facilities of pharmaceuticals with the investment of U$82million. GDL shall finance the Project, whilst BPK is will supply the technology and the intellectual properties to produce the designated drugs and vaccines.
Dr. Lee, CEO and President of CURE comments, "It is very exciting for us to receive interest from MHU and we welcomed the delegates for a site visit. I believe that MHU understands that our biosimilar technologies could make a large contribution to the development of the pharmaceutical industry in The Republic of Uzbekistan. This is very well aligned with our business model and strategy under which we always have pursued opportunities to build manufacturing facilities in those countries that need and can benefit from more affordable biosimilars with our technology. This non-binding MOU is the vert first step to move forward to achieve such a goal of CURE."
About MHU and GDL
Agency of Development of the Pharmaceutical Industry is a government organization under the Ministry of Health of The Republic of Uzbekistan.
Gold-Dream LLC is an Uzbekistan entity set up by a Korean Doctor who is a pioneer to dedicate himself to provide Korean medical services for Uzbekistani people. GDL financed the project to build a hospital in Uzbekistan, which is currently under construction.
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, or
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