Business
BioElectronics Corporation Letter from the President
BioElectronics Corporation Letter from the President.
About this update from Bioelectronics Corp.
[{"type":"text","content":"\n \n \n BioElectronics Corporation Letter from the President\n \n \nBioElectronics Corporation Letter from the President\n \n FREDERICK, MD--(Marketwired - Feb 28, 2017) - BioElectronics Corporation (OTC PINK: BIEL) \n The following is a statement by BioElectronics Corporation President Andrew J. Whelan: \n Dear Fellow Shareholders,\n US FDA Over-the Counter Market Clearance \n The US FDA has now cleared ActiPatch for over-the-counter sales for the adjunctive treatment of musculoskeletal pain related to: (1) heel pain and (2) osteoarthritis of the knee. \n We would have preferred an even broader clearance, but this is a great start. We have an ongoing back pain study in progress at the Oxford University Hospital that should suffice to obtain a broader market clearance in the near future. \n Immediate Objectives \n BioElectronics Corporation is well poised to capture the paradigm shift in medicine towards electroceuticals. The Company's immediate objectives are:\n 1. Enter a License and Supply Agreement with a major OTC marketing partner. We seek a partner that has boots on the ground and the managerial and financial resources to execute immediate worldwide retail market penetration. We believe the recent US FDA over-the-counter clearances coupled with the following make us very attractive to major consumer health product companies:\n \n \n Impressive Efficacy of ActiPatch: 65% of subjects attain a 57% VAS pain score reduction allowing a good night's rest, restoration of daily activities, and an improved quality of life. \n \n \n \n \n Safety profile of ActiPatch: No reported adverse events, no side effects.\n \n \n \n \n ActiPatch's ability to help mitigate the opioid addiction epidemic: surveys that indicate our customers on average have a 50% Reduction in Medication Use, including opioids.\n \n \n \n \n ActiPatch's Exceptional Consumer Acceptance and Demonstrated Marketability: We have developed an innovative approach on how to market an OTC disposable medical device to consumers. The Company's Try & Tell Sales and Marketing Campaign won the OTC Bulletin \"Best OTC Marketing Campaign on a Small Budget\" award. Since current chronic pain therapies do not meet the need for chronic pain relief, pain sufferers are skeptical of new products. To overcome this skepticism and accelerate product acceptance, we promo...