BioCorRx Announces Additional Award of Nearly $100,000 from NIDA for BICX104, its Implantable Naltrexone Pellet for the Treatment of Opioid Use Disorder

Rhea-AI Summary

BioCorRx Inc. (OTCQB: BICX) announced the receipt of a $100,000 supplemental grant from the National Institute on Drug Abuse for the first-in-human clinical trial of BICX104, a biodegradable naltrexone pellet aimed at treating opioid use disorder. This grant contributes to the nearly $9.3 million in non-dilutive funding received from NIH/NIDA. BICX104 benefits from active Investigational New Drug status and a favorable FDA review pathway. The funding will enhance data sharing and support further clinical development of the medication.

Positive

• Awarded $100,000 supplemental grant from NIDA for clinical trial.
• Total non-dilutive funding from NIH/NIDA reaches nearly $9.3 million.
• BICX104 has active Investigational New Drug status.
• FDA has accepted the 505(b)(2) abbreviated pathway for BICX104.

Negative

• None.

ANAHEIM, CA, April 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of innovative treatment programs for substance abuse and related disorders, today announced that it has been awarded a supplemental grant of approximately $100,000 by the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH) for the first-in-human clinical trial of BICX104, an implantable biodegradable naltrexone pellet for the treatment of opioid use disorder (OUD), being developed under BioCorRx Pharmaceuticals, Inc., the Company’s controlled R&D subsidiary. BICX104 is being developed in collaboration with the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH), under RFA DA-19-002, “Development of Medications to Prevent and Treat Opioid Use Disorders and Overdose (UG3/UH3) (Clinical Trial Optional).” The Company has an active Investigational New Drug (IND) status, and the FDA has deemed the 505(b)(2) abbreviated pathway acceptable, as well the opportunity to seek eventual dual indication on the product for OUD and Alcohol Use Disorder (AUD). 

Brady Granier, President and Director of BioCorRx Inc. and CEO of BioCorRx Pharmaceuticals, stated, “We are pleased to receive this supplemental award from NIDA which provides additional non-dilutive funding for our development of BICX104. Part of this supplemental grant will be used to develop and refine systems and strategies at BioCorRx that will format data and documents, and enable proof of concept for Findable, Accessible, Interoperable, and Reusable (FAIR) data sharing. FAIR data sharing benefits scientific advancement by promoting transparency, encouraging collaboration, accelerating research and driving better decision-making. We have received nearly $9.3 million of non-dilutive funding from NIH/NIDA to date including this award, and we appreciate the ongoing support.”

About BioCorRx

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, a clinical stage drug development subsidiary currently seeking FDA approval for BICX104, an implantable naltrexone pellet for treatment of alcohol and opioid use disorders. For more information on BICX and its subsidiary 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.

BioCorRx Inc.
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FAQ

What is the recent grant received by BioCorRx (BICX)?

BioCorRx has received a $100,000 supplemental grant from NIDA for the clinical trial of BICX104.

How much total funding has BioCorRx received from NIH/NIDA?

BioCorRx has received nearly $9.3 million in non-dilutive funding from NIH/NIDA to date.

What is BICX104 developed by BioCorRx (BICX)?

BICX104 is an implantable biodegradable naltrexone pellet for treating opioid use disorder.

What is the significance of the FDA's acceptance of the 505(b)(2) pathway for BICX104?

The FDA's acceptance of this pathway allows for quicker regulatory review and potential dual indication for BICX104.

What will the supplemental grant funds be used for?

The funds will help develop data sharing systems and refine strategies for clinical trial documentation.