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| BICX News Highlights the Moves of a Smart Young Company on the Rise |
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 Hot Stock to Watch |
Company: Biocorrx, Inc. (Pink Sheets: BICX)
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Last:
Price: 0.0275
Change (%): + 0.0018 (7.00)
Volume: 89,115 |
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BioCorRx Launches R&D Initiative to Pursue FDA Approval for Naltrexone Implant
LOS ANGELES, CA--(Marketwired - Jul 14, 2016) - BioCorRx Inc. (OTCQB: BICX), developer of the BioCorRx® Recovery Program, a non-addictive medication-assisted treatment (MAT) program used in the treatment of alcohol and opioid addiction, announced today it is establishing a Research and Development initiative in order to seek U.S. Food and Drug Administration (FDA) approval for its naltrexone implant.
Naltrexone is a non-addictive opioid antagonist medicine that can significantly reduce physical cravings for alcohol and opioids in most people. It can also block some of the effects of those substances. The naltrexone implant works by slowly releasing the medicine into the body for several months.
BioCorRx's previously announced 2.5 million dollar investment with Alpine Creek will help to fund this R&D initiative. The Company also plans to separately utilize this R&D platform to evaluate other compounds with the objective of expanding its product pipeline in the rapidly evolving market for addiction treatment.
In May of this year, the FDA approved a buprenorphine implant which is used to treat opioid addiction. This implant, however, requires removal after 6 months and uses a medication that is a partial opioid agonist. In contrast, the naltrexone implant from BioCorRx is completely biodegradable and works by blocking opioid receptors in the brain and can be effective for both opioid addiction and alcoholism.
"While we continue to observe positive results in our practice, currently the FDA has not given a specific approval for the administration of naltrexone by having it implanted under the skin. Vivitrol, the first FDA approved 30-day injectable form of naltrexone, has led to meaningful market penetration, demonstrating strong demand for this application. Furthermore, with the recent approval of Probuphine by the FDA, implants to treat addiction in general are getting more exposure," said Brady Granier, CEO of BioCorRx. "Our objective is to expand the addressable market for our treatment targets and seeking FDA approval for our naltrexone implant is a logical next step. To support this endeavor, we anticipate announcing strategic relationships with experienced FDA advisors and consultants in the near term and will provide further details as our strategy unfolds."
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