BioElectronics President Interviewed By UpTick Radio: A Discussion on how Wearable Technology can Mitigate the Opioid Addiction Crisis
FREDERICK, MD–(Marketwired – Apr 20, 2017) – BioElectronics Corporation (OTC PINK: BIEL) is the maker of advanced, over-the-counter pain management devices. The company manufactures and markets its flagship product, ActiPatch® Chronic Musculoskeletal Pain Therapy as a drug-free, wearable nonprescription medical device that provides 720-hours of on/off therapy. The president of BioElectronics, Andrew Whelan was interviewed by UpTick Radio about the ActiPatch technology. The full transcript is available at (https://upticknewswire.com/wp-content/uploads/2017/04/Uptick-Network-BIEL-Interview-04-13-17.mp3)
Opioid prescription medication for chronic pain is a major risk factor for the abuse and addiction of opioids substances. Chronic pain is incredibly complex to treat, so physicians turn to prescribing opioid medication because existing therapies have failed to work for their patients. Existing therapies like drugs (NSAID’s, acetaminophen etc.) either block pain or reduce inflammation. Since many chronic pain conditions do not have inflammation, long-term drug use is ineffective and known to cause serious side-effects. Other options like heating pads, ointments and heat patches provide temporary relief by “distracting” the nervous system. An effective chronic pain therapy is likely to reduce opioid use and overall, the number of prescriptions.
Enter electroceuticals, which are devices that provide therapy by regulating nerve activity. While both TENS (transcutaneous electrical nerve stimulation) and ActiPatch belong to this category, TENS has severe limitations. Mr. Whelan explained that TENS sends electricity through the skin and can only be used for about 20 minutes at a time, since it can cause skin irritation. ActiPatch, on the other hand, uses low-power electromagnetic pulses that do not have any sensations and can be used for up to 24 hours a day.
There is growing scientific consensus that many chronic pain conditions are a result of hypersensitivity of the nervous system, a condition known as central sensitization. In light of evidence that repetitive, long-term therapy is key to reversing this hypersensitivity, Mr. Whelan introduced the company’s marketing drive to educate physicians, pharmacists and other pain care providers about the ActiPatch technology. The Company’s marketing team will focus on educating pain care professionals about ActiPatch technology and how it affects chronic pain that results from central sensitization. Current clinical evidence, complete with a landing page catering to the pain management community is now available at www.actipatch.com/pharmacy.
With the success of its award-winning “Try and Tell” Marketing program in the United Kingdom, the Company is preparing to repeat that success in the United States. Market research data from the United Kingdom indicates that for each trial product sold, an average of 2.7 full-retail (720-hour) ActiPatch devices will be sold over the next 12 months. The 7-day trial ActiPatch product is available at both www.tryactipatch.com and Amazon.com for $9.95. This continuous-use, lower priced product allows customers to try the ActiPatch technology before purchasing the retail product. To date, no other electroceutical technology in the market was offered to customers in a “trial” format.
The product offering for the United States market has been consolidated from three versions (Back Pain, Knee Pain and Muscle & Joint Pain) currently available in the UK and Canada, to a single product that includes an ActiPatch 720-hour device and both a wrap and adhesives. The 720-hour product currently retails for $29.95. The company is also introducing a 360-hour version of the device, with a target price of $18.95. It is expected that this price point will entice more consumers to use an ActiPatch instead of other pain products (heating pads, ointments, drugs, etc.), or worse, opioid pain medications.