BioCurex signed an agreement with Abbott Laboratories in late March, 2005 that under the terms of the licensing agreement, Abbott obtains worldwide, semi-exclusive rights to commercialize products using BioCurex’s RECAF technology. Included in the agreement is payment to BioCurex of up-front fees, product development milestones and royalties on any product sales. As a result of the agreement, Abbott looks to improve on the development of this technology, incorporating it into future tests on their ARCHITECT system, for use in cancer diagnosis and monitoring.
Abbott is a leader in cancer diagnostics. The Company developed the first automated PSA test in 1991, for use on the IMX System, and has been expanding cancer test menus across its diagnostic analyzers. Abbott’s tests include diagnosing and monitoring bladder cancer, detecting amplification of the HER-2 gene to aid in determining whether a patient is an appropriate candidate for Herceptin (trastuzumab) therapy for breast cancer.
BioCurex, Inc. has developed technology to specifically identify a cancer marker known as RECAF (TM), which is primarily found on malignant cells from a variety of cancer types, but is absent in most normal or benign cells. Currently, the company is in the process of developing and commercializing cancer diagnostic products based upon its breakthrough RECAF cancer marker technology. Their main products are Histo-RECAF, Cyro-RECAF and Serum-RECAF. The technology is also used in Leukemia identification and tumor imaging.
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