PHOENIX, June 13, 2018 (GLOBE NEWSWIRE) — Uptick Newswire welcomed Andy Whelan, President of BioElectronics Corporation (OTC Pink:BIEL) (“the Company”) back onto the “Stock Day” podcast. Andy spoke with Everett about their progress in the US market, UK market, the new product, the US FDA, and new distributors and potential partnership opportunities.
BioElectronics Corporation is a leader in non-invasive electroceuticals and the maker of an industry leading family of disposable, drug-free, pain therapy devices: ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; Allay® Menstrual Pain Therapy. For more information, please visit www.bielcorp.com
The Company is currently pursuing multiple US partnership opportunities that are partially contingent on additional FDA clearance for the treatment of musculoskeletal pain, back pain, knee pain, muscle, hip, carpal tunnel, etc. Whelan said,“Patience is key throughout this process. It’s going as well as it can.” Additionally, the Company anticipates solidifying deals with two new major distributors in the Asian and Eastern European markets.
The Company’s product development and regulatory clearances are going well. Now, with pre-submission clearance, the 510(k) relief of musculoskeletal pain market clearance application will be filed by the end of June.
The US FDA has recently implemented an Innovation Program seeking “Breakthrough Devices” to Prevent and Treat Opioid Use Disorder. Opioids are routinely used for post-operative pain. Our United Kingdom ActiPatch User Registry accounts that 71% of opioid customers report a moderate (50%) to complete (100%) elimination in opioid medication use. The Company plans to submit its post-operative pain relief market clearance application into this program. The FDA’s assistance, participation, and approval will provide credence and accelerate product market acceptance.
The Company has begun shipments of its new single box kinesiology tape product to be used for back, knee, hip, and muscles and joints in lieu of the back wrap, knee wrap and muscle and joint adhesives. The kinesiology tape is easier to use, reduces product costs, and retail shelf space requirements.
The Company is transitioning its United Kingdom over-the-counter sales and marketing from the front of the store to behind the counter to expand product availability from a few stores to all 14,000 pharmacies. Most pharmacies obtain daily product deliveries and most people in the UK qualify for free prescriptions.
Whelan is confident in the direction the Company is moving, and cites the unique nature of their products as a factor that helps the Company stand out in the global medical electronics industry. Whelan then said, “This is one busy little Company.”
“Stock Day” host Everett Jolly stands by his assessment from his April interview with the company that the stock is very undervalued. BioElectronics Corporation trades on the OTC Pink market under the ticker symbol BIEL. Shares are currently selling at 0.0037, up over 100% since April.
For more details about the Company’s recent FDA meetings, potential partnership opportunities, and attempts to combat the ongoing opioid crisis, follow the link below to hear the full interview.
About BioElectronics Corporation
BioElectronics develops and manufactures unique nonprescription affordable neuromodulation medical devices. The Company’s technology platform is for the treatment of central sensitization, which is now widely accepted as the physiological explanation for many neurological disorders, and specifically chronic pain. Central sensitization is difficult, if not impossible, to address through pharmacotherapy without having a detrimental impact on normal physiologic function. Moreover, pharmacological and masking therapies (creams, heat patches, TENS etc.) have limited effectiveness for chronic pain due to their transient nature. BioElectronics’ electromagnetic stimulation therapy has the distinct advantage of being safe, affordable, long lasting, and effective pain relief.
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