BioCorRx Announces Grant Submission to the National Institutes of Health for BICX102
ANAHEIM, CA, May 22, 2018 (GLOBE NEWSWIRE) -- BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of advanced solutions in the treatment of alcohol and opioid addictions, today announced it has submitted a grant application to the National Institutes of Health (NIH) to fund the development and study plans for BICX102, the Company’s sustained release naltrexone implant for the treatment of opioid and alcohol use disorders. This specific grant opportunity, Development of Medications to Prevent and Treat Opioid Use Disorders and Overdose (UG3/UH3), was created as a result of the current opioid epidemic.
Brady Granier, President, CEO and Director, stated, “The NIH provides support for the research and development of new treatments that can help address the current epidemic of opioid use disorder, which is estimated to affect over 2 million Americans. We are seeking funding from the NIH that could potentially cover the entire cost of the BICX102 development plan. We believe that this new grant opportunity is well suited for our product, as BICX102 addresses an unmet need in the treatment of opioid use disorder of an FDA approved, single administration, multi-month opioid antagonist treatment. While waiting for the outcome of this very comprehensive grant submission, we have already started procuring equipment and supplies needed for the manufacturing portion of the development plan.”
BioCorRx Inc. (OTCQB: BICX) is an addiction treatment company offering a unique approach to the treatment of substance abuse addiction. The BioCorRx® Recovery Program, a non-addictive, medication-assisted treatment (MAT) program, consists of two main components. The first component of the program consists of the use of sustained release naltrexone, usually in implantable form and under the direction and care of an independent licensed physician. Implant forms of naltrexone deliver the non-addictive medicine which is an opioid antagonist that can significantly reduce physical cravings for alcohol and opioids, as well as some of their effects. The second component of the program developed by BioCorRx Inc. is a proprietary cognitive behavioral therapy (CBT) program specifically tailored for the treatment of alcohol and opioid use disorders for those receiving sustain release naltrexone treatment. The behavioral portion of the program also includes overlapping peer recovery support and tracking. The Company also has an R&D subsidiary, BioCorRx Pharmaceuticals, which is currently developing injectable and implantable naltrexone products for potential future regulatory approval. For more information on BICX, visit www.BioCorRx.com.
Safe Harbor Statement
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "become," "plan," "will," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.
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Released May 22, 2018