Bioelectronics Corp (OTCMKTS:BIEL) maker of medical electronics devices for pain management supported the U.S. FDA’s final rule on ‘non-thermal shortwave devices.’ Andrew J. Whelan, the President of Bioelectronics, said that he is delighted the organization has completed this plan in streamlining the regulatory guidelines for making the products available to U.S., the same safe pain relief alternative as available in other nations around the world.
Bioelectronics believes that the need for an effective, affordable and safe drug-free therapy for chronic pain, without the perils of non-steroidal anti-inflammatory and narcotic drugs, will further support swift FDA action. Earlier in 2015, in response to company’s request for information pertaining to the regulatory designation of ActiPatch®, the U.S. FDA stated that it comes under the classification regulation that is the matter of the reclassification.
Whelan added that they believe the reclassification of devices will contribute to a proficient assessment of submitted evidence in company’s 510(k) premarket notification. The device reclassification to Class 2 covers a provision for the FDA’s assessment of Bioelectronics request for OTC market clearance.
Earlier in September, Bioelectronics reported that they would be endorsing the Arthritis Care ‘Time for Tea’ campaign in October 2015. The event is planned by Arthritis Care, an enrolled UK charity which offers practical information and emotional support to residents in the UK suffering from arthritis. Ben Fichter, the Corporation Marketing Manager of Bioelectronics, said that they are delighted to assist people suffering with arthritis find an effective and safe way to get rid of pain.
The new fundraising campaign addresses the concern of social isolation, often a result of arthritis pain. Time for Tea recruits supporters and members of Arthritis Care to plan tea parties and events to raise funds and begin a conversation on arthritis and its impact on people. Bioelectronics reported that events will be conducted across the UK starting from October 12 to October 18, 2015.
Bioelectronics Corp (OTCMKTS:BIEL) extended the weekly decline with another loss of 10% at the end of the last trading session and increased the probability of finishing the week at the lowest point. The volume of 216 million was higher than the daily average of 152 million, adding to the already most active week in the last 5 years. The stock has been in the firm grip of bears in the long term and whenever it looked like the bulls were making a comeback, the bears patiently but firmly took back the control.