BioCorRX NEWS OUT!
BioCorRx Inc. Announces BioCorRx Pharmaceuticals Subsidiary; Forms Joint Steering Committee for Injectable Naltrexone TechnologyFont
12:34 PM ET 8/31/16 | Marketwired
Completes First Milestone in License Agreement With TheraKine Ltd.
LOS ANGELES, CA--(Marketwired - Aug 31, 2016) - BioCorRx Inc. (OTC PINK: BICX) (the "Company"), developer of the BioCorRx® Recovery Program, a medication-assisted treatment (MAT) program, announced today the formation of a new subsidiary, BioCorRx Pharmaceuticals, in conjunction with the company's Development, Commercialization and License Agreement with TheraKine Ltd. for exclusive worldwide rights, licenses and sublicensing to patented and patent pending TheraKine technology for sustained release naltrexone delivery.
BioCorRx Pharmaceuticals will focus on development and commercialization activities of the technology for an injectable naltrexone with the potential to deliver therapeutic levels of naltrexone for 30 days subcutaneously and/or for a few months intramuscularly. The subsidiary will also be used to do further work on the company's naltrexone implant product(s).
"Moving forward with our development of a new injectable naltrexone product and R&D initiative involving the implant, it made strategic sense to create a new subsidiary to handle these initiatives, separate from our operational company which will continue distributing the BioCorRx Recovery Program," said Brady Granier, CEO of BioCorRx.
In addition, the Company has assembled an expert team to form a Joint Steering Committee (JSC) for the injectable, which marks the first milestone completion for the license agreement with TheraKine.
Members of the JSC from BioCorRx include Brady Granier, President/CEO, Director and Dr. David Gastfriend, Medical Consultant. In his prior roll as Vice President at Alkermes, Dr. Gastfriend worked on pivotal efficacy studies and research on effectiveness, health services, criminal justice systems and health economics. Dr. Gastfriend has accrued extensive experience in the field of addiction treatment at institutions such as Massachusetts General Hospital Department of Psychiatry, The Treatment Research Institute and the American Society of Addiction Medicine.
Joining the committee from TheraKine, will be Scott Hampton, Founder & COO of TheraKine BioDelivery GmbH, and Dr. Andreas Voigt, Chief Scientist of TheraKine BioDelivery GmbH.
Scott is responsible for establishing drug delivery and medical device research and development groups. He also drives patent strategy, supports business development/partnering programs and fund raising. Scott is also the co-founder of Atlanta Catheter Technologies (ACT, USA), started in 2009.
Prior to TheraKine, Dr. Voigt was co-founder and CSO of Capsulution Pharma AG and worked at the Max-Planck-Institute for Colloid and Interface Research, Berlin/Potsdam. Dr. Voigt has published 60 publications and holds 35 patents and received a PhD from Humboldt-University of Berlin.
"We've assembled an outstanding team with decades of experience to accomplish our first milestone in our partnership with TheraKine," said Mr. Granier. "As we continue on the path to final development of a new injectable naltrexone product based on TheraKine's technology, this committee will oversee, review and coordinate all activities in our development plan, including validation studies in humans, and ultimately commercial deployment. We look forward to updating our shareholders soon as work on the formula has been underway for several weeks already."
