BiocurePharm, Korea ("BPK") Signs MOU With S&B Biopharm Enabling Expansion Into The European CAR T Market

Vancouver, British Columbia--(Newsfile Corp. - September 21, 2020) - Biocure Technology Corp. (CSE: CURE) (OTCQB: BICTF) ("CURE" or the "Company") BiocurePharm, Korea ("BPK"), a subsidiary of Biocure Technology Inc. ("CURE") is pleased to announce that BPK has entered into a non-binding MOU with S&B Biopharm ("SRB") located in Sofia, Bulgaria. This agreement will allow BPK to locally manufacture CD-19 CAR T in Bulgaria and sell to the Eastern European market, including Poland, Turkey and Bulgaria. Expansion into the European market could assist with bringing ALL patients more affordable solutions of CAR T Therapy.

As part of the agreement, SRB will be required to raise funds the equivalent of USD12Million to cover the clinical trial costs along with the GMP manufacturing facility. Upon the execution of the definitive agreement SRB will have 6 months to allocate the funds and begin the clinical trial. At the completion of the agreement, BPK will be required to transfer its manufacturing technology of CD19 CAR T to the JV for the designated markets, to be defined in the definitive agreement. The manufacturing technology of Lenti virus shall be transferred by a separate agreement afterwards. The initial structure of the JV will be 51:49 between BPK and SRB.

Dr. Sang Mok Lee, CEO and President of Biocure and BPK, states "This MOU is the very first step for the Company to advance it's entrance into the European market with its CAR T technology. We are about to start a clinical trial in Korea and are confident that if we have positive outcomes from the Korean clinical trial, this should enable the European process to be faster and more efficient. We strongly believe that our business model could enable European ALL patients with an affordable CAR T Therapy to save more lives. We continue to work hard to make this happen as soon as possible."

About Biocure

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 info@biocuretech.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64231

info