ANAHEIM, CA, Aug. 15, 2024 (GLOBE NEWSWIRE) -- BioCorRx Inc. (OTCQB: BICX) (the "Company"), a developer and provider of innovative treatment programs for substance abuse and related disorders, today provided a business update for the three months ended June 30, 2024, and reported on recent corporate developments.
Additionally, BioCorRx Inc. announces the expansion of its intellectual property portfolio with a new international patent awarded from Israel for the treatment of weight loss. This patent covers the use of a subcutaneous implant containing naltrexone to aid in weight loss when combined with behavioral and/or nutritional counseling and therapy. This patent aligns with BioCorRx's long-term goals of addressing the global unmet medical needs related to obesity and strengthens the Company's IP portfolio.
Lourdes Felix, CEO, CFO, and Director of BioCorRx Inc., commented, "In the second quarter of 2024, we announced that our subsidiary, BioCorRx Pharmaceuticals Inc., was granted a new patent by the United States Patent and Trademark Office (USPTO) for a novel compound. We believe this patented invention could offer a new approach to reducing the severity of withdrawal symptoms for opioid use disorder (OUD) compared to current treatments. Recently, we were granted a new patent from Israel for the use of a subcutaneous naltrexone implant to aid weight loss when combined with behavioral or nutritional counseling. This further expands our IP portfolio and supports our goals in addressing global obesity."
"Additionally in February 2024, BioCorRx Pharmaceuticals received a 3-year grant totaling approximately $11 million from the National Institute on Drug Abuse (NIDA), a division of the National Institutes of Health (NIH). This grant is designated for the development of BICX104, a subcutaneous, long-duration naltrexone implantable pellet intended for the treatment of methamphetamine use disorder (MUD), either as a standalone therapy or in combination with bupropion. MUD is a significant public health challenge, affecting individuals, families, and communities across the nation. With no approved medications currently available specifically for MUD, and an expanding demographic at risk of methamphetamine-related overdose deaths, this funding will greatly accelerate our research efforts to develop BICX104 as a potential treatment. We remain optimistic about our business and are excited about the ongoing progress in our development. Our focus continues to be on executing our strategic priorities to create significant value for shareholders, and we look forward to sharing additional operational and regulatory updates soon," concluded Ms. Felix.
A copy of the Company's quarterly report on Form 10-Q for the second quarter ended June 30, 2024, has been filed with the Securities and Exchange Commission and posted on the Company's website at https://ir.biocorrx.com/.
About BICX104
BICX104 is a biodegradable, long-acting subcutaneous pellet of naltrexone for the treatment of Opioid Use Disorder "OUD" being developed with the goal of improving patient compliance to naltrexone therapy compared to other marketed treatments. In Phase I, an open-label, single-center study in two parallel groups of randomized healthy volunteers to evaluate the PK and safety of BICX104 and the once-a-month intramuscular naltrexone injection (Vivitrol), BICX104 was well tolerated with no serious adverse events and achieved 84 days of therapeutic naltrexone plasma concentrations. BICX104 is being developed under BioCorRx Pharmaceuticals Inc., the Company's majority-owned clinical-stage pharmaceutical subsidiary.
Information about the study can also be found at www.clinicaltrials.gov under NCT number 04828694.
BICX104 is being developed through a cooperative agreement with the NIDA, part of the NIH, under award number UH3DA047925, funded by the Helping to End Addiction Long-term Initiative, or NIH HEAL Initiative. This award is subject to the Cooperative Agreement Terms and Conditions of Award as set forth in RFA DA-19-002 entitled, Development of Medications to Prevent and Treat Opioid Use Disorders and Overdose (UG3/UH3) (Clinical Trial Optional).
The NIH Helping to End Addiction Long-term® Initiative or NIH HEAL Initiative®, is an aggressive, trans-NIH effort to speed scientific solutions to stem the national opioid public health crisis. Launched in April 2018, the initiative is focused on improving prevention and treatment strategies for opioid misuse and addiction and enhancing pain management. For more information, visit: https://heal.nih.gov.
Research reported in this publication was supported by the National Institute On Drug Abuse of the National Institutes of Health under Award Number U01DA059994 and UH3DA047925. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About MUD
Research has shown that methamphetamine is a highly addictive stimulant and one of the most misused stimulant drugs in the world. Some of the side effects of MUD are severe dental problems, memory loss, aggression, psychotic behavior, and damage to the cardiovascular system. In 2022 the National Survey on Drug Use and Health reported that more than 16.6 million people used methamphetamine at least once during their lifetime.
About OUD
OUD is a chronic disorder, with serious potential consequences including disability, relapses, and death. Opioids, used medically for pain relief, have analgesic and central nervous system depressant effects as well as the potential to cause euphoria with an overpowering desire to use opioids despite the consequences. OUD can involve misuse of prescribed opioid medications, use of diverted opioid medications or illicitly obtained heroin. OUD is typically a chronic and relapsing illness that is associated with significantly increased rates of morbidity and mortality.
About Obesity
It is estimated that 1 billion people worldwide are obese. In 2024 the World Health Organization reported that one in eight people live with obesity and stressed the importance and need to curb the obesity epidemic with new interventions. It is estimated that by 2035 the global obesity crisis could rise to over 4 billion people. Affecting healthcare costs upwards of $4 trillion with obesity-related conditions including; stroke, heart disease, cancer, and type 2 diabetes.
About BioCorRx Inc.
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 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 that includes access to concierge on-demand wellness specialists: nutritionists, fitness experts, and personal support from behavioral experts, please visit www.uncraverx.com for more information on UnCraveRx®. The Company also controls BioCorRx Pharmaceuticals Inc., a clinical-stage drug development subsidiary currently seeking FDA approval for BICX104, an implantable naltrexone pellet for the treatment of alcohol and opioid use disorders. For more information on BICX and its subsidiary pipeline, please visit www.BioCorRx.com.
Forward-Looking Statements
This press release contains 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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