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PE firm Alpine Creek completes equity financing of BioCorRx

Private equity firm Alpine Creek has completed its equity financing of BioCorRx (BICX), an addiction treatment company.

The new round of funding will include the closing of nearly USD5 million investment from strategic investor Alpine Creek Capital.
 
The initial investment of USD2,500,000 received in June 2016 has allowed BioCorRx to reach major milestones and expand into the development of injectable naltrexone.
 
Lourdes Felix, CFO, COO and director, says: "We appreciate the support we have received from investors, as this financing strengthens our balance sheet while allowing us to continue to execute on our business plan. Preclinical studies of BICX101, a new injectable naltrexone technology for the treatment of substance abuse addiction, have produced results consistent with our goals. This funding will allow us to accelerate our preclinical activities, and we remain on track to complete the current study already underway in the following weeks. Once the study is completed, we plan to request a pre-IND meeting with the FDA to present the data. In addition, this financing will allow us to accelerate sales and marketing activities related to our BioCorRX Recovery Program."
 
In June 2016, Alpine Creek committed to invest an initial USD2,500,000 with an additional USD2,500,000 to BioCorRx.
 
Brady Granier, CEO of BioCorRx, says: “Since last year, Alpine has been a valued and trusted financial partner of BioCorRx and this transaction is a testament to the hard work that has been done by everyone in our company to create a product that we believe has great potential to combat this opioid epidemic, as well as the much larger alcoholism problem destroying families across the world. Our programme and service model has evolved over the years into something we believe is truly unique and effective in battling addiction. With this significant partnership with Alpine, we will be able to start taking advantage of initiatives we have been dreaming about for years. The folks at Alpine are not your average investors. They really care about what we are doing and the impact it can make and they are also rolling up their sleeves and getting in the trenches along-side us to beat addiction."

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