The Biotechnology Market is Projected to Grow

Friday, January 26, 2018 General News
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NEW YORK, January 26, 2018 /PRNewswire/ --

According to a report

from Global Market Insights, the biotechnology market size was valued at over USD 330.3 billion in 2015 and is expected to exceed 775.2 billion by 2024, at a compound annual growth rate of 9.9 percent during the forecast
year. Increasing demand of new technologies for chronic diseases continues to drive the biotechnology industry size. The industry is segmented into biopharmacy, bioagriculture, bioservices and bioindustrial based on application. Biopharmcy held the largest market share in 2015, with a revenue of over USD 199 billion. Based on region, North America holds the dominant position in term of revenue due to increasing R&D spending, in part due to growing papulation and increasing demands for a more effeicent healthcare industry. BioCorRx Inc. (OTC: BICX), Curis, Inc. (NASDAQ: CRIS), Egalet Corporation (NASDAQ: EGLT), Palatin Technologies, Inc. (NYSE: PTN), Protalix BioTherapeutics, Inc. (NYSE: PLX)

A major segment of the healthcare industry is substance abuse treatment. According to another report from Transparency Market Research, U.S. substance abuse treatment market was value at US$4.42 billion in 2015, and is expected to research US$12.43 Billion by 2024, at an impressive compound annual growth rate of 12.4 percent. Substance addiction includes alcohol dependence, tobacco/nicotine addiction, and opioid addiction. Rising number of people addicted to alcohol, nicotine/tobacco, and opioids boosted the demand for substance abuse treatment in the U.S. The report indicated that the demand of outpatient treatment centers is expected to grow rapidly in the coming year due to increasing Popularity of Outpatient Rehab

BioCorRx Inc. (OTCQB: BICX) earlier in the week company announced breaking news that, "a pilot for the BioCorRx® Recovery Program in collaboration with the One Day at a Time Program (ODAAT), a program funded by the city of Philadelphia and state of Pennsylvania. This will be a paid demonstration pilot in which the BioCorRx Recovery Program will be used to treat several individuals suffering from opioid and alcohol use disorders. The ODAAT program assists over 56,000 residents of Philadelphia.

ODAAT is dedicated to serving low-income and homeless men and women and their families in the Philadelphia area who are afflicted by addiction and HIV/AIDS. ODAAT is also building stronger communities through their anti-violence and recovery initiatives. ODAAT's focus is on providing peer support and promoting healthy, positive lifestyles. ODAAT accomplishes its mission through a holistic array of services, including addiction recovery counseling, linkage to health and social services, transitional housing, and community outreach. The BioCorRx® Recovery Program includes the use of a naltrexone implant produced per patient prescription, combined with the Company's proprietary cognitive behavioral therapy (CBT) program and overlapping 12 months of peer support. These specifically formulated, biodegradable pellets are typically inserted beneath the skin in the lower abdominal area. Naltrexone is a non-addictive opioid antagonist used for the treatment of alcohol and opioid use disorders. It can reduce or eliminate cravings for alcohol and opioids, as well as block the dangerous effects of opioid use such as overdose, as commonly seen with heroin. The implant provides a window of opportunity for one to get through the behavioral therapy component and well established into the peer support portion of the program.

Mel Wells, President of One Day at a Time Program, commented: "As recovery providers, we cannot continue to sit by and watch our loved ones and family members die. Thanks to BioCorRx's support and expertise, together we will be able to make a resounding impact in saving lives against addiction."

Pennsylvania State Senator Sharif Street, stated, "Given the tremendous challenges placed on the community by the opioid epidemic, I am excited that One Day at A Time continues to be a leader and innovator in the recovery space.  One Day at a Time has a track record of helping people overcome addiction and I am hopeful that they are equally successful in the implementation of this new, innovative and potentially lifesaving process for addressing opioid addiction and recovery."

Brady Granier, President, CEO and Director of BioCorRx, stated: "We are pleased to have such great support for our recovery program in Pennsylvania. The BioCorRx® Recovery Program continues to gain momentum as independent treatment providers across the country report successful results using our program to treat their patients."

Tom Welch, VP Operations of BioCorRx commented: "We are thrilled to be working with Mel, ODAAT and the great people of Pennsylvania. We look forward to making a significant and positive impact in this insidious epidemic."

Curis, Inc. (NASDAQ: CRIS) is a biotechnology company focused on the development and commercialization of innovative and effective drug candidates for the treatment of human cancers, including CUDC-907, which is being investigated in clinical studies in patients with lymphomas and solid tumors. Recently, the company announced initiation of patient dosing in a Phase 1 trial of CA-4948, an orally available small molecule inhibitor of the IRAK4 kinase, for treatment of patients with lymphoma. CA-4948 was discovered at Aurigene and is the second licensed program from the Curis-Aurigene collaboration to enter the clinic. The Phase 1 study is designed to evaluate the safety, tolerability, and pharmacokinetic profile of CA-4948; identify any dose-limiting toxicities; and establish the recommended Phase 2 dose for the treatment of patients with lymphomas. The dose escalation stage of the trial will enroll patients with relapsed/refractory non-Hodgkin's lymphoma, and the expansion stage will focus on specific populations of patients with lymphomas harboring alterations in the MYD88 gene or Toll-like receptor (TLR) signaling pathway.

Egalet Corporation (NASDAQ: EGLT), a fully integrated specialty pharmaceutical company, is focused on developing, manufacturing and commercializing innovative treatments for pain and other conditions. Recently, the company announced that its partner OraPharma, a division of Valeant Pharmaceuticals International, Inc., has begun promoting SPRIX® (ketorolac tromethamine) Nasal Spray to more than 9,000 dentists and oral surgeons across the United States. Under the agreement announced earlier this month, the OraPharma sales team will promote SPRIX Nasal Spray along with their own portfolio of products to their target dentists and oral surgeons. SPRIX Nasal Spray is a nonsteroidal anti-inflammatory drug (NSAID) indicated in adults for short-term (up to five days) management of moderate to moderately severe pain that requires analgesia at the opioid level.

Palatin Technologies, Inc. (NYSE: PTN) is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. On January 3, 2018, the company announced that the U.S. Food and Drug Administration (FDA) has notified Palatin that it may proceed with its clinical investigation of subcutaneous injection PL-8177 as a potential treatment for patients with ulcerative colitis. The notice to proceed was received following Palatin's submission of an investigational new drug (IND) application for this program. Palatin expects to commence a Phase 1 single and multiple ascending dose study in the current quarter. PL-8177, a selective melanocortin receptor 1 (MC1r) agonist peptide, is Palatin's lead clinical development candidate for ulcerative colitis and other inflammatory bowel diseases. Agents that modulate the MC1r system may have therapeutic potential in a variety of inflammatory disease indications.

Protalix BioTherapeutics, Inc.  (NYSE: PLX) is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx®. On January, 02, 2018, the company announced interim data from the first 14 patients that completed, to date, the Company's phase II clinical trial of OPRX-106 (oral anti-TNF) in patients with ulcerative colitis.  The phase II clinical trial is a randomized, open label, 2-arm study of OPRX-106 in patients with active mild to moderate ulcerative colitis.  A total of 24 patients were enrolled and randomized to receive 2 mg or 8 mg of OPRX-106, administered orally, once daily, for 8 weeks.  The first 14 patients have completed the study, and four patients are currently in treatment and follow-up.  The trial evaluated key efficacy endpoints including clinical response and remission utilizing the Mayo score, as well as safety and pharmacokinetics.

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