ANAHEIM, CA -- (Marketwired) -- 11/15/17 -- BioCorRx, Inc. (OTCQB: BICX) (the "Company"), a developer and provider of advanced solutions in the treatment of alcohol and opioid addiction, today announced that it has entered into a confidentiality agreement with the National Institute on Drug Abuse (NIDA), a United States federal-government research institute whose mission is "to advance science on the causes and consequences of drug use and addiction and to apply that knowledge to improve individual and public health." The purpose of the agreement is to share confidential information and potentially collaborate on further research, development and commercialization of the Company's therapies and programs for opioid use disorder.
According to the 2016-2020 NIDA Strategic Plan, one of the goals is to "develop new and improved treatments to help people with substance use disorders achieve and maintain a meaningful and sustained recovery." More information about NIDA's Strategic Plan can be found at: https://www.drugabuse.gov/about-nida/strategic-plan/goal-3-develop-new-improved-treatments.
In a meeting held by BioCorRx and its development team with NIDA via teleconference on November 8, 2017, NIDA agreed to participate as an observer at the pre-IND meeting for BICX102 with the FDA, which is scheduled for January 24, 2018. BICX102 is the Company's sustained release naltrexone implant being developed for opioid and alcohol use disorders. Brady Granier, CEO of BioCorRx, is also scheduled to meet with NIDA in Washington, DC next week on November 21st for follow up discussions and technical advice on BICX102, as well as to discuss opportunities with BioCorRx's Cognitive Behavioral Therapy (CBT) mobile application recently developed.
Brady Granier, CEO, President, and Director of BioCorRx, commented, "We are honored that NIDA has agreed to engage with us through this process. Our desire is to get this valuable treatment option to market as quickly as possible so that we can help those suffering from opioid use disorder, as well as those suffering from alcohol use disorder. The medical community and government entities have shown strong interest in our products and we have seen a high demand for an antagonist therapy that can last several months. We look forward to the next meeting with NIDA and for their attendance at our upcoming FDA meeting. We believe this naltrexone product can save many more lives if approved and becomes more widely accepted by payers."
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 an outpatient implant procedure performed by a licensed physician. The implant delivers the non-addictive medicine, naltrexone, an opioid antagonist that can significantly reduce physical cravings for alcohol and opioids. The second component of the program developed by BioCorRx, Inc. is a one-on-one counseling program specifically tailored for the treatment of alcoholism and other substance abuse addictions for those receiving long-term naltrexone treatment. 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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