Bioelectronics Corp (OTCMKTS: BIEL) is an electroceutical company that develops wearable, neuromodulation devices to safely mitigate neurological diseases and improve quality of life. The Company’s innovative pulsed shortwave therapy technology (PSWT) that uses low power pulsed electromagnetic fields regulate electrical activity of the nervous system. The neuromodulation basis of PSWT presents significant opportunities for BioElectronics to develop optimized technology for diabetic neuropathy, postoperative surgery, chronic wounds, and other applications. The Company’s current OTC product line is ActiPatch® Musculoskeletal Pain Therapy, RecoveryRx® Postoperative and Chronic Wounds Therapy, which are sold by or on the order of medical professionals. Bioelectronics operates out of its 4,100 sq. ft headquarters in Frederick, Maryland.

In February 2020, BioElectronics obtained a new 510(k) clearance from the U.S. FDA, granting over-thecounter marketing clearance for the drug-free ActiPatch® a wearable nonprescription medical device that provides 720-hours (90, 8-hour treatments) of on/off therapy.  This paves the way for the Company to create new products to treat all medical claims for musculoskeletal pain, including in the back, knee, hips, wrists, elbow, and ankle.  The chronic pain market is larger than diabetes, heart disease, and cancer combined, with 20% of adults globally suffering from chronic pain. ActiPatch addresses the unmet need for 1.5 billion worldwide chronic pain sufferers. The Company’s medical devices modulate the body’s nerve activity to dampen the pain perception, which reduces drug use. RecoveryRx is an ideal choice in reducing postoperative pain and exposure to long-term effects of opioid/NSAID therapy. 

The ActiPatch® product provides advanced long-lasting chronic pain relief using Electromagnetic Pulse Therapy and works great for back pain, knee pain, muscle & joint pain, arthritis, sciatica, fibromyalgia, strains, sprains and more.  ActiPatch® is drug and ingredient-free so is safe for continuous use and can be used while taking any other medication. Unlike a TENS machine, you will not feel heat or vibration. In fact, ActiPatch® is completely sensation free, so the only thing you are going to feel is better. According to Ken McLeod, PhD. Director of Clinical Science and Engineering Research, Binghamton University State University of New York, 2 out of 3 ActiPatch® users experience a significant 50% reduction in pain. 

According to the Company most recent quarterly reported filed on November 15, 2022;  ActiPatch® technology has the potential to become the standard of care throughout the healthcare continuum across the OTC and healthcare markets. BioElectronics’ technology offers significant opportunities in menstrual pain, heel pain, migraine headaches, diabetic neuropathy, postoperative surgery, chronic wounds, bone growth stimulation, and other applications. In July of 2022 the Company reported that in a recently published paper, a RCT study of temporomandibular joint disorders (TMD) found that 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.  

Before you prescribe, try DRUG-FREE pain treatment from RecoveryRx. Simple. Affordable. Wearable-not a TENS! Learn more at https://t.co/uk178fKpV1 #painmanagement #tendonitis #painrelief #medtech #fdacleared #jointpainrelief #nopills #nosideeffects #innovation #sensationfree pic.twitter.com/UG3RyaI9KV

— BioElectronics Corp (@BielCorp) February 8, 2023

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RecoveryRx is a class II, FDA-cleared, pulsed shortwave therapy (or non-thermal shortwave therapy) device which utilizes non-thermal, radio-frequency electromagnetic energy to treat postoperative pain and edema. When used adjunctively, RecoveryRx has been found to reduce postoperative pain and consumption of pain medication, including opioids. The device is highly effective; Laurie Casas MD, FACS, Northwestern University, from Feinberg School of Medicine stated; I use RecoveryRx™ on every facial procedure. It reduces my patients bruising and swelling by 50% following Blepharoplasty, Face Lifts, and Rhinoplasty. As a result of RecoveryRx, two weeks of standard surgical recovery has been reduced to 5-7 days.” A recent case study was published that used 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.

In November 2020, Bioelectronics received the CE (Conformité Européenne) Mark for its ActiPatch® and RecoveryRx® Pulsed Shortwave Therapy (PSWT) medical devices. These wearable devices can now be sold over the counter in 33 European Union (EU) countries, and many other non-EU countries like Australia that recognize the CE mark. The certification for the CE mark is valid until May 2024, and the Company’s updated quality management system will ensure prompt recertification.

BioElectronics continues to be focused on expansion and has established distribution agreements with distributors in the United Kingdom, Sweden, Southeast Asia, Italy, Mexico, Spain and Australia. They also have a commercial partnership agreement with Scott Specialties Inc. to ActiPatch under the DonJoy® Advantage product line with DJO’s DonJoy Advantage (DJA) line of orthopedic appliances and sold as an EME Knee Wrap and an EME Back Wrap, “powered by ActiPatch”. They also executed an OEM agreement with KT Health, incorporating BioElectronics’ ActiPatch® technology into KT Health’s KT Recovery+® product line, being marketed and distributed under the proprietary trade name KT Recovery+ WAVETM. More recently the Company 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.

BioElectronics was founded by Andrew J. Whelan, a healthcare proffesional that founded and served as the President of P.A. Whelan & Company, Inc., before fouding Drug Counters, Inc., a chain of managed care retail pharmacies, which he later sold to Diagnostek, Inc. Mr. Whelan also founded Physicians’ Pharmaceutical Services, Inc. BioElectronics’s CEO is Kelly Whelan is an exectuve who was the Controller of Belfort Furniture that had sales of approximately 40 million dollars annually as well as spending years as an independent consultant providing accounting, marketing and general business services. Kelly Whelan is a certified public accountant. Rounding up the executive management team is Keith Nalepka – VP of Sales and Marketing, and John M. Martinez – VP of Engineering.

BioElectronics 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. 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. The Company plans to investigate how best to enter this multi-billion-dollar market in the near future.

Relieve pain with drug-free, simple, affordable RecoveryRx. https://t.co/irDdFZ2ccl #GolfLife #painrelief #painmanagement #jointpain #sportsmedicine #fdacleared #golf #tendonitis pic.twitter.com/LZyZ0TDG7M

— BioElectronics Corp (@BielCorp) February 23, 2023

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Currently trading just $0.0002 over 52-week lows BIEL has some debt on the books which has resulted in some serious dilution in the past. They have a FDA approved product that has historically sold well and targeting the booming chronic pain Markets. The Company’s innovative pulsed shortwave therapy technology (PSWT) uses low power pulsed electromagnetic fields to regulate electrical activity of the nervous system and can reduce pain by as much as 50% drug free. The stock also has a very large US and international following that will jump on board if BIEL sees any momentum northbound. This stock can trade significant volume.  We will be updating on BIEL when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in BIEL either long or short and we have not been compensated for this article.