BioCorRx Provides Business Update for the Third Quarter of 2020; BioCorRx Subsidiary, BioCorRx Pharmaceuticals Inc. Progressing with Pivotal Nonclinical BICX102 Study
Announces Promotion of Lourdes Felix to CEO; Brady Granier to Serve as President
ANAHEIM, CA, Nov. 16, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire ‒ BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of advanced solutions in the treatment of substance use disorders, today provided a business update for the third quarter ended September 30, 2020. The Company also announced the promotion of Lourdes Felix to CEO of BioCorRx, replacing Brady Granier who will serve as President and will continue to serve as CEO of BioCorRx’s subsidiary, BioCorRx Pharmaceuticals Inc. Ms. Felix will continue in her role as CFO, and both Ms. Felix and Mr. Granier will retain their roles as members of the board of directors.
“Lourdes’ vital contribution to the Company makes her the right CEO for the next chapter at BioCorRx. In our partnership over the years, she has been a key player in defining and executing on our strategic initiatives,” said Mr. Granier. “Specifically, this transition will allow her to oversee capital markets and strategic aspects of the operational business, while allowing me more time to focus on the expansion of our subsidiary, BioCorRx Pharmaceuticals Inc., where I will continue to serve as CEO, as we advance our lead candidate, BICX102, through the FDA approval process. I remain highly encouraged by the outlook for the business and look forward to continuing to work closely with Lourdes as President and fellow board member to support the growth and exciting initiatives underway at BioCorRx.”
“I am grateful and honored to serve as CEO of BioCorRx and appreciate the confidence shown by Brady and the Board of Directors,” said Lourdes. “I would like to thank Brady for his outstanding leadership over the years and his tremendous contributions to BioCorRx, as he has been instrumental in expanding our R&D program under the Company’s subsidiary, BioCorRx Pharmaceuticals Inc., building strategic partnerships and expanding into new markets. I look forward to continuing to work closely with Brady and executing on the Company’s strategic vision in advancing our addiction treatment and weight loss solutions.”
“Our subsidiary, BioCorRx Pharmaceuticals Inc., continues to progress our pivotal good laboratory practice (GLP) preclinical studies of BICX102, a sustained release naltrexone implant for the treatment of opioid and alcohol use disorders. The main GLP study began in March of this year and while limited, we have experienced some delays due to scheduling challenges on the part of the contract research organization (CRO) conducting the study. Our team is currently working on the IND application that we still strive to submit by the end of the year, however that could also happen after the new year if we experience any delays from any of the various third parties we rely on to receive data or prepare the application. Our subsidiary also continues to work on preclinical studies of VDM-001, a new molecule being developed to reverse opioid overdose. Fentanyl has become a major driving force behind the opioid epidemic in the US which continues to be exacerbated by the COVID-19 pandemic. We are very encouraged by some early preclinical data that demonstrated the ability of VDM-001 to block analgesic effects of fentanyl in vivo.”
“We also recently announced that we have formed a partnership with Truusight Health, a healthcare solutions and care navigation and management company, to bring the Company’s Recovery Program to self-funded health plans. Through this partnership, plan members covered under Truusight Health programs will now have access to Beat Addiction Recovery, a medication-assisted treatment (MAT) program, which combines proprietary cognitive-behavioral therapy (CBT) and peer support, with medication prescribed by a licensed treatment provider. We are excited to expand the reach of our recovery program, which helps ensure people have access to remote treatment and recovery during this difficult time,” concluded Lourdes.
BioCorRx Inc. (OTCQB: BICX) is an addiction treatment solutions company offering a unique approach to the treatment of substance use and other related disorders. Beat Addiction Recovery (formerly the BioCorRx® Recovery Program) is a substance use disorder recovery program that typically includes BioCorRx’s proprietary Cognitive Behavioral Therapy (CBT) modules along with peer support via mobile app along with medication prescribed by an independent treating physician under their discretion. The UnCraveRx™ Weight Loss Program is also a medication assisted weight loss program; please visit www.uncraverx.com for more information on UnCraveRx™. The Company also conducts R&D under its controlled subsidiary, BioCorRx Pharmaceuticals. For more information on BICX and product pipeline, please 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 November 16, 2020