BioCorRx Forms Subsidiary For Abuse-Deterrent Drug Development
BioCorRx Inc., an addiction-treatment company and developer of the BioCorRx Recovery Program, a medication-assisted treatment program, has formed a new subsidiary, BioCorRx Pharmaceuticals, in conjunction with the company’s development, commercialization and license agreement with TheraKine Ltd., a drug-delivery company specializing in sustained-release injectable delivery ,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, chief executive officer (CEO) of BioCorRx, in a company statement.
In addition, the company has assembled an eam 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 role as vice president at Alkermes, Dr. Gastfriend worked on efficacy studies and research on effectiveness, health services, criminal justice systems,and health economics. Dr. Gastfriend has accrued 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 and chief operating officer 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 fundraising. Prior to TheraKine, Dr. Voigt was co-founder and chief scientific officer of Capsulution Pharma AG and worked at the Max-Planck-Institute for Colloid and Interface Research, Berlin/Potsdam.