BioCorRx Inc (OTCQB:BICX) said Friday that the development of its naltrexone implant BICX102 to treat opioid and alcohol use disorder has not been affected by the coronavirus (COVD-19) pandemic.
In a statement, CEO Brady Granier said the company’s pivotal GLP preclinical studies of BICX102 “continue to progress and have been uninterrupted by COVID-19 to date.”
Granier also noted that the studies started before the United States began shutting down in late March and added that BioCorRx expects to have the data and reports needed to submit an Investigational New Drug (IND) application to the US Food and Drug Administration near the year end.
READ: BioCorRx announces two senior management promotions as company eyes next growth phase
The drug naltrexone, delivered in the sustained-release implant, is designed to decrease the desire to take opioids.
In addition, Granier said the company continues to advance preclinical studies with VDM-001, a new molecule being developed to reverse opioid overdose through a partnership with VDM Biochemicals Inc.
“VDM-001 may represent an effective alternative to naloxone in the overdose reversal market,” he said.
“Early preclinical data was promising as the effects of fentanyl, which is responsible for thousands of deaths annually, may be prevented by VDM-001. We are currently conducting more preclinical studies to gain more knowledge about the viability of this novel molecule.”
In other company news, the group said it is, for a limited time, offering free access to its BioCorRx Recovery Program mobile platform for medical professionals and the UnCraveRx app for anyone who wants to track their fitness and nutritional goals.
The mobile app also provides patients and treatment providers a means of engaging during stay-at-home orders, according to the Anaheim, California-based company.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham