Source: BioCurex, Inc.
BioCurex Introduces OncoPet(tm), a RECAF(tm) Blood Test for Cancer Detection in Companion Animals
No Regulatory Approvals Required Prior to Commercialization
RICHMOND, British Columbia, June 17, 2009 (GLOBE NEWSWIRE) -- BioCurex Inc. (OTCBB:BOCX) today announced that it has developed OncoPet(tm), a version of its RECAF(tm) blood test to be used for cancer detection in dogs.
The new test performance matches that of its human counterpart: In a study including 116 dogs with cancer and 150 control dogs, the test detected 85% of the animals with a variety of cancers at the standard 95% specificity level (i.e. 5% false positives).
Consultations with the pertinent Government agencies in the USA and Canada indicate that neither the "homebrew" tests for veterinary use, nor the production facilities require regulatory approval.
Given the absence of regulatory delays as well as the fact that the technology is ready for use, the Company expects to take OncoPet(tm) to market within the next few months and to that effect, it has already registered the
www.oncopet.net domain.
Marketing research indicates that the fastest and most profitable approach to commercialization of this product is to offer the testing service directly to veterinarians, to be done in conjunction with routine blood work. In British Columbia over 120,000 blood tests are carried out on pets every year. In addition, BioCurex shall consider licensing these tests to large veterinary diagnostic companies on a non-exclusive basis. The use of RECAF for veterinary purposes is not included in the current licensing agreements with Abbott Laboratories and Inverness Medical Innovations.
There are approximately 75 million dogs in the United States - that is a dog for every 4 people - and on average their owners spend $219 per year on veterinary visits(1). Overall, 4 out of 1,000 dogs get cancer every year(2). "It is the number one cause of death among dogs and cats in the United States, Europe, and Japan," says Dr. Greg Ogilvie, a professor at Colorado State University and a world expert in veterinary oncology. More than 50% of all dogs ultimately die of cancer, and some breeds, like golden retrievers and boxers, have even higher cancer rates. In fact, pets are more likely to get cancer during their lifetimes than their owners(3).
Statistics reveal that almost all pet owners feel a strong human-animal bond. About 49.7% of survey respondents consider pets to be part of the family, and 48.2% consider pets to be companions4. Between 1996 and 2006 the number of dog-owning households that spent $1,000 or more per year on visits to the veterinarian quadrupled - from 2.2% to 8.4%4. During 2006, dogs averaged 1.5 visits to the veterinarian(4).
Dr. Moro stated: "OncoPet(tm) is our response to generate revenue as quickly as possible. It is now ready for use and it requires no approvals that would excessively delay its launching. Marketing in North America is straight forward and the veterinarians we consulted are enthusiastic about the potential the test has to offer. Other markets such as Europe and Japan may be accessed via licensing or distribution agreements. OncoPet(tm) is now ready for use with dogs, but we anticipate it will also be as effective for cats, which approximately doubles the market size.
On June 3rd, Pfizer announced that the Food and Drug Administration has approved the first cancer drug, named Palladia(tm), made specifically to treat cancer in dogs(5). The ability to diagnose cancer with OncoPet(tm) and treat it with Palladia(tm) presents an intriguing synergy."
Moro added: "Finally, it is of paramount importance to keep in mind that this RECAF test for companion animals is not a substitution for our RECAF tests to be used in human patients but rather an addition aimed to accelerate revenue generation while the human tests get to market."
About BioCurex:
BioCurex, Inc. is a biotechnology company that is developing products based on patented/proprietary technology in the areas of cancer diagnosis, imaging and therapy. The technology identifies a cancer marker known as RECAF(tm), which is found on malignant cells from a variety of cancer types but is absent in most normal or benign cells.
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 see:
http://sec.gov/Archives/edgar/data/1...4s1april08.txt).
The cancer marker RECAF(tm) has emerged as a potential biomarker that may be useful in the development of new cancer diagnostics tests. Preliminary studies from the investigators at BioCurex have reported a high level of clinical sensitivity and specificity for RECAF in many of the most common cancers, including prostate, breast, colorectal, lung and others.
To read more about the Company, please visit the News section in our web site (
www.biocurex.com).
