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11/28/16 - Korean Biotech Enters Canadian Capital Markets
Vancouver, British Columbia / TheNewswire /November 28, 2016 - Biocurepharm Inc. ("BP" or the "Company") is pleased to provide a corporate update from their CEO, Dr. Sang Mok Lee's, recent trip to Vancouver, British Columbia, Canada.
BP is a South Korean based Bio Pharmaceutical company, and specializes in biosimilars. The Company is in the process of clinical trials of five major biosimilar products in South Korea, including Interferon Beta 1b, Filgrastim and Ranibizumab.
Interferon Beta 1b is used for treating relapsing forms of multiple sclerosis ("MS"), to reduce the number of flare-ups and slow down the development of physical disability associated with MS. The global market in 2016 is estimated at USD 9 billion and the industry is showing promising growth.
Filgrastim is used to treat neutropenia, a lack of certain white blood cells caused by cancer, bone marrow transplant, chemotherapy, or by other conditions. The global market in 2016 is estimated to be worth USD 6 billion.
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. The global market for 2017 is estimated to be USD 9.8 billion.
By the year 2020, many major global Bio Pharmaceutical patents will be expired and the estimated worth of that market could be over USD 100 billion. This presents huge opportunities for biosimilars to enter the market.
Recently, Samsung BioLogics, a biosimilar unit of Samsung Group, made a strong market debut trading above its initial public offering price. With this IPO, Samsung BioLogics's market cap reached over USD10 billion. The South Korean government is promoting biosimilar companies to target the global biosimilar market by utilizing Korea's accumulated technologies in this field in last 30 years and South Korea has become a major producing country of biosimilar products in the world. At present, there are only 7 countries that manufacture Bio Pharmaceutical medicine including South Korea and many Korean Bio Similar companies are emerging as a major supplier of Bio similar medicine in this lucrative market.
Dr. Lee arrived in Vancouver on November 21stand met with his Canadian network of investors and financial institutions. These meetings were arranged by Columbia Capital Inc. On November 27, Dr. Lee returned to Korea with promising results.
BP is in the process of listing on a Canadian stock exchange via a Reverse Take-Over. A fully owned subsidiary, Biocure Technology Inc. ("Biocure"), was incorporated in Vancouver, BritishColumbia, Canada on November 22, 2016, as part of this process. Preliminary investor meetings were held with prospective sponsors including Canaccord Genuity Group Inc., PI Financial Corp., and Richardson GMP Limited in order for Biocure to select the best sponsor (underwriter) for BP.
Corporate strategy regarding the Reverse Take-Over was discussed with Shauna Hartman of Armstrong Simpson, Barristers and Solicitors.
A plan to communicate with shareholders and the investment community was formulated with Julie Hajduk of Purple Crown Communications Limited.
On Behalf of the Board of Directors,
Dr. Sang Mok Lee, CEO
Canaccord Genuity Group Inc. is a leading independent, full service investment bank with wealth management and capital market segments. Established in 1950, the company has offices in 10 countries worldwide.
PI Financial Corp. is a leading employee owned investment dealer providing a full range of financial products and services to the investment banking and capital markets industries. Founded in 1982 by Max Meier and John Eymann, PI Financial advises more than 50,000 clients and has over 300 employees across Canada.
Richardson GMP Limited is a leading diversified independent financial services firm delivering tailored solutions to complex capital markets transactions.
Purple Crown Communication Corp. offers multifaceted investor relations services to navigate the complex capital markets.
Copyright (c) 2016 TheNewswire - All rights reserved.
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