Replies to post #167 on MabCure, Inc. (MBCI)

[MikeCr]

MabCure Receives U$500,000.00 Licensing Fee as Well as 12.5% Ongoing Royalty for Its Prostate Cancer Diagnostic Technology

Nov 22 2011 NEW YORK--(BUSINESS WIRE)-- MabCure, Inc. (OTCBB: MBCI.OB - News), a leading developer of antibody-based diagnostics and treatments for ovarian and prostate cancer, today announced that it has signed a license agreement with Biotech Investment Corp. (“Biotech”), a Nevada-based biotechnology investment company. The agreement is an exclusive worldwide license to certain MabCure hybridoma clones producing antibodies against prostate cancer. In addition to the license fee paid to MabCure, Biotech will issue to MabCure 15% of its outstanding shares on a fully diluted basis and will pay a royalty of 12.5% on revenues.

The need for a new method for diagnosing prostate cancer has become evident recently due to the major controversy over the usefulness of PSA testing. PSA is a marker of inflammation of the prostate, not of prostate cancer, and, as such, it is not surprising that repeated clinical studies have shown that PSA testing fails to alter the survival rate of prostate cancer patients. MabCure’s antibodies are aimed at prostate cancer markers and as such may have the potential for yielding an accurate diagnosis of prostate cancer.

Dr. Amnon Gonenne, CEO of MabCure, commented: “This is a very exciting deal for MabCure and its shareholders. It demonstrates the confidence of our investors (Biotech) in our technology and the early proof of concept attained with our antibodies for the diagnosis of ovarian cancer. The license fee will mainly be used to further the development and testing of our hybridoma clones for the diagnosis of Ovarian Cancer. We look forward to working with Biotech on developing the prostate cancer diagnostic test and are excited about the parallel development and testing of our antibodies for the detection and treatment of two forms of cancer.”