BioCorRx, Inc. Announces Preliminary Agreement with VDM Biochemicals to Develop and Commercialize Patented Opioid Antagonist VDM-001
BIOCORRX INC NEW (BICX)
NASDAQ:AMEX Investor Relations:
ir.biocorrx.com
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Source: GlobeNewswire
ANAHEIM, CA, Oct. 09, 2018 (GLOBE NEWSWIRE) -- VDM-001 represents potential alternative to naloxone for overdose reversal; Potential to reduce cravings from substance use disorder via NEWMEDIAWIRE -- BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of advanced solutions in the treatment of substance use disorders, today announced the execution of a letter of intent (LOI) with VDM Biochemicals, Inc. (VDM), subject to execution of a definitive agreement, whereby the companies would partner to further develop and commercialize VDM’s new opioid antagonist molecule, VDM-001, as described in U.S. Patent # 9,650,338B1 – 2017: “Opioid antagonist compounds and methods of making and using.” Under the agreement, BioCorRx has the right of first refusal to acquire up to a 49% ownership stake in VDM-001, which was invented by Dr. Vardan Martirosyan. Both parties have agreed to use best efforts to enter into a definitive agreement within 6 months from the date of the
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