FREDERICK, Md., June 3 BioElectronics Corp.(BIEL), the maker of the ActiPatch(TM), a drug free anti-inflammatory patch,with an embedded battery operated microchip delivering continuous pulsetherapy, specifically designed to speed healing, today announced that recentsales successes, particularly in the international arena, and careful expensecontrols have resulted in the Company recently achieving operating breakeven.Additionally, the company announced today that world renowned plastic surgeonDavid G. Genecov will develop, institute and complete a new research study onthe use of ActiPatch therapy for the treatment of plantar fasciitis, acondition that affects tens of millions of people throughout the world. Thedouble-blind randomized study will be completed in conjunction with leadingpodiatrists under Dr. Genecov's direction and supervision.
"These are clearly exciting times for all of us at BioElectronicsCorporation. We are continuing to see increased user acceptance of ourproducts not only within the general and plastic surgery related markets inthe United States, but also throughout many parts of Europe and Asia,"commented Andy Whelan, CEO and President of BioElectronics Corporation. "Overthe past few months, our international distribution channels have seen asignificant amount of success and our penetration of the general and plasticsurgery markets as meaningfully increased. Combined with tight expensecontrols at the Company, these successes have allowed us to reachprofitability sooner than we had previously expected. We are expecting ourrevenues to continue to grow throughout the remainder of 2008 and into 2009 asActiPatch continues to gain increased acceptance in both the domestic andinternational marketplaces."
Mr. Whelan continued, "In order to further drive our future revenueopportunities, we are aggressively pursuing various clinical studies withleading medical professionals. We recently announced clinical studies for theuse of ActiPatch in breast augmentation and cesarean section post-surgicalcare and today we are pleased to announce that an additional trial for the useof ActiPatch for the treatment of plantar fasciitis will soon get underway.As the baby boomer generation ages, Plantar fasciitis is becoming increasinglycommon. This condition, which is mainly caused by excessive wear to theplantar fascia, the connective tissue that supports the arch of the foot andis commonly associated with aging, obesity, pregnancy, and jobs that require alot of work on hard surfaces, causes considerable pain to millions of people.To relieve the pain and inflammation, many have turned to non-steroidalanti-inflammatory drugs (NSAIDs) such as aspirin and ibuprofen, but thescience clearly shows these are often of limited benefit. We are very excitedabout working with this group leading lower extremity experts on evaluatingActiPatch as a treatment for this painful condition."
Dr. David G. Genecov added, "Many Doctors of Podiatric Medicine and othermedical professionals are starting to investigate the use of ActiPatch for thetreatment of a variety of foot and ankle related conditions, but there hasbeen little clinical data. The team we have assembled for this importantstudy looks forward to providing this real world clinical data to ourcolleagues."
About BioElectronics Corporation
BioElectronics Corporation is the maker of the ActiPatch(TM). ActiPatchis a drug-free anti-inflammatory patch with an embedded battery operatedmicrochip that delivers weeks of continuous pulsed therapy for about a dollara day. The unique ActiPatch delivery system, using patented technology,provides a cost-effective patient friendly method to reduce soft tissue painand swelling. ActiPatch is approved by Health Canada for the relief of painin musculoskeletal complaints. The US government's food and drugadministration (FDA) has cleared the use of the p