PHOENIX, Sept. 11, 2018 (GLOBE NEWSWIRE) — President of BioElectronics Corporation (OTC Pink:BIEL) (“the Company”) goes back onto the “Stock Day” podcast. BioElectronics Corporation is a leader in non-invasive electroceuticals and the maker of the unique product line 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; and the Allay® Menstrual Pain Therapy. For more information, please visit www.bielcorp.com.
Andy Whelan spoke with Everett Jolly about BioElectronics’ progress in the US and UK markets, the US FDA status, new distributors and marketing partnership opportunities, and the use of ActiPatch for post-operative pain to mitigate opioid use.
The Company has submitted an FDA 510(k) application for market clearance for the broad treatment of musculoskeletal pain, (back pain, knee pain, muscle, hip, carpal tunnel, etc.). The Company has also applied to participate in the FDA’s Opioid Innovation Challenge program and is in progress with a separate application for post-operative pain reduction market clearance. Post-operative pain accounts for a substantial use of opioids. Whelan stated “we have empirical evidence from our UK User Registry where 65% of opioid users reported a reduction in opioid use and 23% reported complete elimination of its use.
Whelan stated that “in the UK, which is socialized medicine, 80 to 90% of the prescriptions are paid for by the National Health Service, and since BioElectronics has received reimbursement approval it has now focused its sales and marketing on prescription sales to open the market to all pharmacies.”
Internationally, “we’re picking distribution in Malaysia, Thailand, Indonesia, Singapore, the Philippines and Russia and the Ukraine,” Whelan said.
To listen to the full podcast, click on the following link: https://upticknewswire.com/featured-interview-ceo-andrew-whelan-of-bioelectronics-corp-otc-pink-biel-4/
About BioElectronics Corporation: BioElectronics develops, manufactures, and markets unique drug free, noninvasive neuromodulation pain therapy 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.
ACTIPATCH is a registered trademark
Safe Harbor Act
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward looking statements. These forward-looking statements, involve significant risks and uncertainties that could cause actual results to differ materially from the expected results.