Replies to post #10837 on BioCurex, Inc.(fka BOCX)

[abk747]

Bizjournals
January 9, 2008 11:07 AM ET

Inverness Medical Innovations has licensed technology from a Canadian company for a new generation of cancer diagnostics tests.

Financial terms of the deal between Waltham, Mass.-based Inverness (AMEX: IMA) and BioCurex (OTCBB: BOCX) of Richmond, British Columbia, were not disclosed.

But Inverness gains semi-exclusive global rights to commercializing products using the BioCurex technology, a patented substance that identifies a cancer marker present only in malignant cancer cells.

The technology is thought to be highly sensitive and specific in detecting various types of cancer even at an early stage.

Inverness will pay BioCurex upfront fees, product and development milestones and any royalties on product sales.

Such a market potential is huge. The World Health Organization estimates more than 10 million people are diagnosed with cancer annually and that the number will reach 15 million in 12 years.

Inverness, a diagnostics company, has acquired a number of smaller rivals in recent months as it seeks to diversify and broaden its product line.