Release #:812-182842-rl-1235735: Frederick, Mary
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Posted On: 08/19/2019 8:46:56 AM
Release #:812-182842-rl-1235735:
Frederick, Maryland MedTech Company Receives FDA 510K Approval
August 13, 2019
Frederick County, Maryland continues to be a vibrant hub for growing bioscience organizations. With its robust life science support ecosystem and proximity to key government research entities the region continues to produce and nurture exciting biotech companies across a wide range of fields, including a host of notable medical technology (MedTech) companies finding their stride.
We turn our attention to a Frederick County, Maryland MedTech company that recently received FDA approvals for their MedTech device. BioElectronics Corporation, which received FDA 510K approval in July 2019, is a Frederick-based MedTech company to watch.
BioElectronics Corporation
The BioElectronics Corporation, a publicly-traded company (BIEL) founded in 2000 and headquartered in Frederick, is a leader in non-invasive electroceuticals. Led by Founder, President and CEO Andrew J. Whelan, the company develops safe and effective pain management technologies that offer an alternative to opioid-based pain treatments. The company is the maker of an industry leading family of disposable, drug-free, pain therapy devices, including ActiPatch® Therapy, an over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; and the Allay® Menstrual Pain Therapy.
In July 2019, the company received FDA market clearance for its RecoveryRx® medical device for the treatment of postoperative pain. RecoveryRx is now an alternative to opioid focused postoperative pain treatments, which can have limited effectiveness in some patients and include the risk of longer term addiction. In general, according to the company, only 50% of patients report that postoperative pain regiments provide them with satisfactory pain relief. Physicians are increasingly seeking alternatives to opioid-driven pain management. RecoveryRX is now a safe, drug-free and more effective pain management alternative for these physicians and one that could potentially become the standard of pain management care in the near future.
With more than 15 million Americans who experience postoperative pain each year, and approximately 7 million patients that require chronic wound treatments, the BioElectronics Corporation has a tremendous untapped market opportunity with the recent approval of its RecoveryRx medical device.
BioElectronics Corporation is just the latest example of a thriving company that calls Frederick, a dynamic bioscience hub with numerous startups, growth-stage organizations, well-established industry anchor companies and government research agencies, home.
Paul Knopick
pknopick@eandecommunications.com
8/15/2019 5:59:44 PM
Frederick, Maryland MedTech Company Receives FDA 510K Approval
August 13, 2019
Frederick County, Maryland continues to be a vibrant hub for growing bioscience organizations. With its robust life science support ecosystem and proximity to key government research entities the region continues to produce and nurture exciting biotech companies across a wide range of fields, including a host of notable medical technology (MedTech) companies finding their stride.
We turn our attention to a Frederick County, Maryland MedTech company that recently received FDA approvals for their MedTech device. BioElectronics Corporation, which received FDA 510K approval in July 2019, is a Frederick-based MedTech company to watch.
BioElectronics Corporation
The BioElectronics Corporation, a publicly-traded company (BIEL) founded in 2000 and headquartered in Frederick, is a leader in non-invasive electroceuticals. Led by Founder, President and CEO Andrew J. Whelan, the company develops safe and effective pain management technologies that offer an alternative to opioid-based pain treatments. The company is the maker of an industry leading family of disposable, drug-free, pain therapy devices, including ActiPatch® Therapy, an over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; and the Allay® Menstrual Pain Therapy.
In July 2019, the company received FDA market clearance for its RecoveryRx® medical device for the treatment of postoperative pain. RecoveryRx is now an alternative to opioid focused postoperative pain treatments, which can have limited effectiveness in some patients and include the risk of longer term addiction. In general, according to the company, only 50% of patients report that postoperative pain regiments provide them with satisfactory pain relief. Physicians are increasingly seeking alternatives to opioid-driven pain management. RecoveryRX is now a safe, drug-free and more effective pain management alternative for these physicians and one that could potentially become the standard of pain management care in the near future.
With more than 15 million Americans who experience postoperative pain each year, and approximately 7 million patients that require chronic wound treatments, the BioElectronics Corporation has a tremendous untapped market opportunity with the recent approval of its RecoveryRx medical device.
BioElectronics Corporation is just the latest example of a thriving company that calls Frederick, a dynamic bioscience hub with numerous startups, growth-stage organizations, well-established industry anchor companies and government research agencies, home.
Paul Knopick
pknopick@eandecommunications.com
8/15/2019 5:59:44 PM
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