Company Receives Initial Purchase Order From Stada MENA
FREDERICK, MD, July 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – BioElectronics Corporation (https://www.bielcorp.com/ OTC: BIEL a developer of medical technology products, today announced via a Shareholder’s update that the Company has completed and undertaken additional clinical research and has received the initial stocking purchase order from its distribution partner, Stada. The update is below:
Dear Shareholders,
I would like to take this opportunity to discuss some new developments and their possible implications for the Company. Let me start by again stating our guiding principles, that is, our core capabilities are in innovation with pulsed shortwave therapy (PSWT) and manufacturing an affordable medical device. With this in mind, I would like to provide information on a few very promising new developments.
Canine Osteoarthritis
We recently completed a randomized, double-blind, placebo-controlled (RCT) study on providing pain relief and improving functionality for dogs suffering from osteoarthritis (OA). The owners of the dogs receiving the active device reported their dogs showed a 45% reduction in pain within 14 days compared to the dogs who received the placebo device. (Pain levels were measured via eight behavioral indicators.) In addition, these treatment dogs exhibited increased range of motion while the placebo dogs showed no such increase. (A paper describing this study is in preparation for submission to a veterinary journal and will be posted on our website by the end of this month).
These results have at least two major implications. First, canine OA is found in at least 80% of older dogs and represents a new market for BIEL with few good competitive options for dog owners. We plan to investigate how best to enter this multi-billion-dollar market in the near future. Second, because we placed the device on the dog’s neck near the cervical spinal cord and not near the arthritic joint, it provides new evidence on how PSWT works. This latter knowledge is extremely important since it provides insights into coming up with new applications.
Phantom Limb Pain
A recent case study was published that used our RecoveryRx medical device to help relieve phantom limb pain. It found that 67% of the users got pain relief after using this device. This is particularly encouraging since all of these patients had tried multiple other therapies and failed to find any relief. The doctor who is leading this study plans to conduct a larger RCT study to further document possible relief. More details can be found at the following link https://amjcaserep.com/abstract/index/idArt/937549
Temporomandibular Joint Disorder (TMD)
In a recently published paper, a RCT study of temporomandibular joint disorders (TMD) found that our medical device, ActiPatch, provided better and longer pain relief than a combination of an NSAID and a commercially available muscle relaxant, Myospas. TMD affects approximately 5%–12% of the overall population and thus represents another potential market that we plan to explore. More details about the study can be found at the following link
We have continued our efforts to expand our markets internationally. We recently signed an agreement with Stada, a leading manufacturer of high-quality pharmaceuticals, who will be distributing ActiPatch to augment their non-prescription consumer healthcare products. We are now in the process of meeting the demand for their first order.
Summary
The Company has continued to develop strong business partners with major marketing firms while also scanning the environment for new markets and opportunities. Conducting sound research and documenting new applications is part of our DNA and should provide the Company with a successful future. Again, we thank our shareholders for their continued support and look forward to further announcements, both in terms of new research findings and new market opportunities.
Richard Staelin, Ph.D.
Chairman of the Board
Certain information set forth in this email contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this email are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
