FREDERICK, MD–(Marketwired – Oct 27, 2016) – BioElectronics Corporation (OTC PINK: BIEL), the maker of advanced nonprescription disposable $30.00 neuromodulation pain relief medical devices, is pleased to release an interview with President, Andy Whelan. The interview can be heard at http://westbrookradio.com/2016/10/26/andrew-whelan-ceo-bioelectronics-corp-biel/
Mr. Whelan explained the science of bioelectronics, the chronic pain market, the far-reaching product portfolio, its award winning “Best OTC Marketing Campaign on a Small Budget,” and its assessment of 12,000+ users and the exceptional product acceptance.
Chronic Pain – 20% of adults globally suffers from chronic pain. This market is larger than diabetes, heart disease, and cancer combined. ActiPatch is a nonprescription medical device that addresses the unmet need for 1.5 billion chronic pain sufferers worldwide that modifies the way the central nervous system works. The modification results in an increase in pain perception from less provocation. ActiPatch modulates the body’s nerve activity to dampen the pain perception, thereby mitigating the use of drugs. Kenneth McLeod, Ph.D. Director of Clinical Science and Engineering Research, New York State University Binghamton’s short video explains how the technology and ActiPatch work at http://actipatch.com/why-actipatch/.
Demonstrated Marketability to Consumers – The Company’s Try and Tell sales and marketing campaign has won this year’s OTC Bulletin “Best OTC Marketing Campaign on a Small Budget” award. ActiPatch therapy is the leading analgesic in Walgreens/Boots in the UK.
Current chronic pain therapies do not meet the need for chronic pain relief and sufferers are skeptical. To overcome the skepticism and accelerate product acceptance, we promote a discounted 7-Day Trial device without an on/off switch. 65% of testers averaged a 57% reduction in pain and said they “intended” to or would “maybe” purchase. 80% did purchase an average of 1.75 devices within 90-days. After one year, the users purchased an average of 2.7 devices.
A leading pain management medical journal Pain Management published a 5,000+ subject study: A UK registry study of the effectiveness of a new over-the-counter chronic pain therapy, Pain Manag. 2015 Nov; 5(6): 413-23, http://www.futuremedicine.com/doi/full/10.2217/PMT.15.35. The data demonstrates a consistent clinically meaningful effect in chronic musculoskeletal pain from a variety of causes (osteoarthritis, rheumatoid arthritis, fibromyalgia, post-surgical, neuropathic) affecting different regions of the body (back, hip, knee, wrist, elbow, and shoulder).
Additionally, our 6 month Observation Study demonstrates:
- Treatment durability: Over 90% of the participants reported continued relief averaging a 61% reduction in pain even after six months.
- Decreased medication use: 86% reported a decrease in medication use that continued to improve over time. Most importantly, this decrease included prescription narcotic based drugs.
- Improved quality of life: 90% reported improved sleep, 89% reported greater physical activity, and 71% reported their quality of life was much better to a great deal better.
- Healthcare savings: 65% spent less on pain therapies and 65% reported fewer visits to the doctor and pain specialist.
- Decreased adverse events from medication use: 68% were experiencing adverse side effects, of these 71% reported a reduction in adverse side effects.
- Side effects: None reported
US FDA OTC Market Clearance – The Company has submitted a 510(k) pre market application to the FDA with three ActiPatch randomized clinical trials. Additionally, the clinical trials evidence is being supplemented with a Registry of a 5,600 consumer assessment on back pain, a 6-Month Observational Study on product durability, a Medication Use Reduction Study and a Sleep Improvement Study.
Mr. Whelan also explained the technology’s significant opportunities in menstrual pain, heel pain, migraine headaches, diabetic neuropathy, postoperative surgery, chronic wounds, bone growth stimulation, and other applications.
About BioElectronics Corporation
BioElectronics Corporation is the maker of a leading family of affordable, disposable, drug-free, medical devices. ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; HealFast® Therapy and the Allay® Menstrual Pain Therapy. Please visit www.bielcorp.com for clinical evidence and a video on how it works.
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