Pain & Trauma Category Award Winner
New Innovative Pain Treatments
Award Winning Technology
BioElectronics Corporation 4539 Metropolitan Court, Frederick, Maryland 21704 USA Phone: 1-866-757-2284 | Fax: 301-874-6935 | E-mail: [email protected] | Web: www.bielcorp.com
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First Mover Advantage in Major Markets - Bioelectroceuticals™ Products Offers Significant Investment Opportunity
BioElectronics Corporation (www.bielcorp.com) develops, manufactures, markets and sells consumer medical electronics that reduce swelling, relieve pain, and accelerate healing. BioElectronics has developed and patented a new, effective, affordable, drug-free home use pain treatment medical device that: • Provides long lasting drug-free pain relief that’s 5x better than
OTC drugs, and 100% safer;
• Accelerates healing 30 to 50%; and,
• Provides a cost/benefit in 720-hours of on/off healing pain relief
therapy for under $30 retail or $0.04/hour.
Soft tissue injuries, musculoskeletal injuries and chronic and post-operative wounds, need therapeutic treatment, not drugs, to reduce pain and inflammation and to accelerate healing. BioElectronics products are market disruptive and: • Will dominate the over-the-counter market for musculoskeletal and menstrual pain;
• Provide adjunctive healing or an alternative to narcotic drug therapy; and
• An inexpensive, exceptionally effective treatment for chronic wounds and post-operative care.
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How BioElectroceuticals™ Relieve Pain & Accelerate Healing The body is regulated, at least in part, by electrical signals that travel along nerves. Bioelectroceutical™ devices are designed to modify these nerve signals, providing pain relief by stimulating sensor neurons and increasing blood flow in order to reduce inflammation and restore the injured tissue to a healthy state.
Safe and Effective Pain Relief
Bioelectronics products produce pulsed electromagnetic fields (EMF) which results in reduction in pain, inflammation and a decreased time to heal. These effects are achieved through direct interactions of the pulsed EMF with the soft tissue through a mechanism referred to as stochastic resonance. Stochastic resonance is a phenomenon where a periodic signal is boosted over a critical threshold by ambient noise in the system.
The EMF of 27 MHz penetrates deeply into the body tissues, creating low level electrical fields which, in combination with electrical "noise" in the tissues, is able to significantly influence cell connectivity and nerve activity. Activated sensory nerves operate through a feedback loop to trigger motor nerves which results in muscle contractions. The increased muscle activity enhances blood flow into the treated area, and as well, pumps out lymphatic fluid to reduce swelling and pain.
Accelerated Healing Increased blood flow serves to warm the injured region and bring oxygen and nutrients to the region to enhance tissue healing. The extended duration treatment of pulsed EMF has also been shown to directly enhance cell mobility, which accelerates tissue healing. Accelerated Healing Evidence Diabetic Foot Ulcer Clinical Study – Temple School of Podiatry Published in the International Wound Journal 2012 June: 9 (3) 253-8
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Summary of Evidence of Safety and Effectiveness:
1. Regulatory Clearances
US FDA Approved Indication of Use for The treatment of edema following blepharoplasty (eye surgery)
European Union (CE) – For the reduction of pain and Inflammation (OTC).
Health Canada – Relief of pain associated with musculoskeletal complaints, relief of menstrual pain, and postoperative OTC.
Australia (TGA) – For the reduction of pain and inflammation.
Korea – Reduction of muscle pain.
Many Others Around the World
US FDA advisory panel meeting May 2103 recommended re-classification to class II for postoperative pain and edema. Musculoskeletal pain was disregarded. No ruling has currently been made. http://www.fda.gov/AdvisoryCommittees/Calendar/ucm346715.htm
2. Randomized, Double Blind Placebo Controlled Trials (published):
Plantar Fasciitis: plantar-study-pdf The American College of Foot and Ankle Surgeons in The Journal of Foot & Ankle Surgery stated, “… worn on a nightly basis appears to offer a simple, drug-free, noninvasive therapy to reduce the pain associated with plantar
fasciitis.” (p.18)
Breast Augmentation (Pectoral Muscle Pain Relief) Aesthetics Plastic Surgery – official journal of the European Assoc. of Societies of Aesthetic Plastic Surgery (EASAPS) and Sociedade Brasileira de Cirurgia Plastica (SBCP) BioElectronics-Postoperative-Pain.pdf The CDRH Medical Devices Advisory Committee and Orthopaedic and Rehabilitation Devices Panel’s review of the literature on 5/21/13 noted that the “study did use valid pain assessments and report a reduction in post-operative pain, an effect that was supported by a reduction in the use of analgesic medications”. (p.85)
Blepharoplasty: Aesthetics Plastic Surgery accepted by the former Directors of the Office of Device Evaluation, FDA, Bernard Statland, MD, Ph. D. and Daniel Schultz, MD. (p.82)
3. Randomized, Double Blind Placebo Controlled Trials (not published)
Delayed Onset Muscle Soreness in Marathon Runners (independent study) (p.60)
Menstrual Pain Study (p.64) Delayed Onset Muscle Soreness bicep muscle compared to acetaminophen (Tylenol) (p.52) A confirming clinical study (University British Columbia) on subjects with recalcitrant Plantar
Fasciitis (average 29 months), with 6 month follow up showed significant improvements in pain and function (foot and ankle disability index) publication 2014.
4. Well-documented case histories (published)
Wound healing of Recalcitrant Ulcers http://www.bielcorp.com/biel/wp-content/uploads/2013/03/ BioElectronics-Chronic-Wound-Case-Series.pdf: (published) International Wound Journal (p.118)
5. Significant human experience with a marketed device
ActiPatch® Consumer Survey – average pain reduction 50% (3.5 VAS points) with ActiPatch® use (p.23)
ActiPatch Marketed in 57 countries – 500,000 units sold; 40+ million treatments This form of therapy has been used for 80+ years to reduce pain, inflammation and to accelerate healing (over 600 published studies)
Mechanism of Action & Clinical Evidence (URL: http://www.bielcorp.com/biel/wp-content/uploads/2014/01/Bioelectroceuticals-Mechanism-of-Action-Clinical-Evidence-Version-16.pdf)
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6. In Vitro cell studies
Studies on human dermal fibroblasts show increased cell migration to close a “wound” in the cell monolayer. Wound area covered - 77% in actively treated cells compared to 50% in control. This is indicative of a direct action of the electromagnetic field produced by the device to enhance tissue healing.
7. New York State University, Binghamton Clinical Science and Engineering Research Center is research, testing and confirming a physiological response in human soft tissue. A significant development as it has been found that the mechanism of pain relief and promotion of tissue healing is due to the phenomena of Stochastic Resonance – where a weak period signal is elevated by noise, in this case the medical device pulsed/periodic signal has been shown to activate sensory nerves, feedback loop activation of motor nerves and enhanced blood flow into the treatment area. Stochastic Resonance is being utilized in a growing number of medical applications e.g. cochlear ear implants
8. Ongoing clinical research: Tufts Dental and Medical Schools (3rd
Molar Extraction, Pain & Edema, Myofascial Pain, and Chronic Wounds); Univ. of Chicago, Medical School (osteoprogenitor); Univ. of British Columbia (Plantar Fasciitis recovery at 26 weeks); Aarhus Univ. Hospital, Denmark (Venous Ulcer Wound Healing); Univ. Hospital Ghent, Belgium (Bilateral Hernia Surgical Recovery); Univ. Hospital G. Martin, Messina, Italy (Osteoarthritis); and Univ. of Otago, Dunedin, New Zealand (Lower Back Pain)
Current Rich Retail Product Line with Major Growth Potential
BioElectronics current product line has both retail and professional medical sales lines. For sales to doctors and other medical professionals, we have developed the RecoveryRx® product that is optimized for post-surgical and wound healing applications. There are three product brands for retail sales – ActiPatch®, Allay® Therapy and Smart Insole™.
ActiPatch® – Relieves chronic musculoskeletal back, knee, shoulder, neck and other joint pain. ActiPatch also reduces the swelling and relieves the pain in sprains and strains injuries. Allay® – Alleviates the pain and discomfort associated with menstrual cycles. Smart Insole™ - Treats and relieves the pain of plantar fasciitis (heel Pain).
ActiPatch® is now on retail shelves at Boots in the UK. In a customer survey, participants who used ActiPatch reported experiencing 5x superior pain relief as compared to OTC medication and 3x greater relief compared to heat pads and is 100% safer to use.
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ActiPatch® Therapy - The most significant opportunity is presented by one of the most common human ailments, namely, musculoskeletal complaints. The ActiPatch musculoskeletal devices provide 720 hours, or 90 (8-hour therapy sessions) of pain relief ActiPatch Therapy offers long-term relief from pain at a market disruptive cost.
ActiPatch’s Musculoskeletal Market & Products - Musculoskeletal injuries present a significant OTC opportunity. There is no effective therapy for muscle sprains and strains. Traditional treatments are “RICE” rest, ice, elevation and compression. ActiPatch therapy shuts down the inflammation and relieves the pain to restore functionality.
Thermacare® is currently leading in the disposable pain-relief wrap category with almost 40% market share. Neither ThermaCare nor its competitive products make a specific medical claim as to any therapeutic benefits. ThermaCare is not recommended for Diabetics and there are warnings of possible burns if the product is not used properly.
ActiPatch® therapy is a highly effective treatment for the 50 – 60 million people in the U.S. suffering from acute and chronic back pain. Each year, 2% of the U.S. work force has compensable back injuries. Patients suffering from back pain consume more than $90 billion annually in health-care expenses, with approximately $26 billion directly attributable to treating back pain. Furthermore, a study by Duke University found the annual per capita expenditures for patients with back pain were 1.6 times higher than those without back pain. These increased expenditures were present in all categories including inpatient charges, office visits, prescription drugs, outpatient care, home health care and emergency room care. Back pain is classified into three categories based on the duration of symptoms, as acute (pain that has been present for six weeks or less), sub-acute (a six- to 12-week duration) and chronic (longer than 12 weeks). In Europe, the situation is no different. Lower back pain is a major health and socio-economic problem throughout the region and the second leading cause of sick leave. An EU Commission study recently suggested that a very significant 67 million people suffered pain in their lower or upper back in the previous week. The lifetime prevalence has been estimated at 59% to 90%, and in any one year, the incidence of back pain is about 5.0% of the population. Furthermore, while most episodes of low back pain settle after a couple of weeks, many have a recurrent course with further acute episodes affecting 20% to 44% of patients within one year in the working population and lifetime recurrences of up to 85%. Having an effective solution to back pain is a very important market. Neck and Upper Body Pain - Several competing brands already offer a Neck & Shoulder patch in their portfolio of products. This indication is commonly their 2
nd most popular product after their
back pain product.
5x Better Pain Relief than OTC Drugs 100 % Safer
Retails for $30 720 Hours at $.25 each
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According to Focused Health Solutions, Analgesics, acupuncture, exercise interventions and manual therapy have been proven to be useful as neck pain relief in short-term only. Depending on the specific case, ActiPatch has the potential to be the ONLY solution that offers sustained long-term neck pain relief. Easy to apply, and comfortable to wear, the ActiPatch Neck & Shoulder Therapy will provide continuous relief using BioElectronics’ patented therapy. Knee Pain - Knee pain is one of the most common musculoskeletal issues that results in doctor visits; and with today's increasingly active and aging society, the number of knee problems people are experiencing is increasing rapidly. Knee pain is generally treated with ice or heat, rest, and drug therapy. Costs in 2003 for all knee and joint replacement procedures were estimated at $24.8 billion. ActiPatch is an inexpensive effective therapy that provides convenient pain relief and accelerated recovery. Heel Pain - Plantar Fasciitis (heel pain) occurs in an estimated 30 million Americans. The rate of the condition continues to increase both in the U.S. and Western Europe because it is often related to obesity. It is an extremely painful condition that is difficult to treat and can have a serious effect on daily activities. The ActiPatch heel pain therapy is a two-part delivery system for continuous 24 hours of treatment. ActiPatch, imbedded in a comfortable gel shoe insole, provides continuous daytime therapy, and the heel wrap provides all night therapy. This innovative and unique system creates the ultimate pain relief and healing product. Wrist Pain - An estimated 5% of the U.S. population (15 million people) suffer from carpal tunnel syndrome. It is not only painful, but can cost an estimated $300,000 per injured individual including medical bills and lost time from work. ActiPatch Wrist Pain Therapy is a convenient method of treating pain and the wrap can be worn comfortably under a splint wrist brace.
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Allay Therapy is a new, drug-free treatment for the pain and discomfort associated with menstruation. Menstrual pain (Dysmenorrhea) is localized in the lower abdomen. It usually begins in the first year of menstruation and affects nearly 60% of women. Approximately 10% are in such severe pain that they are unable to conduct their daily activities for the first few days each month. Most women typically use acetaminophen or ibuprofen to treat pain. However, the increased consumer awareness of the dangers of overuse of oral analgesics such as acetaminophen and non-steroidal anti-inflammatory drugs (NSAIDs) creates a significant market opportunity for Allay®. Allay® is discreet and the flexible loop can be tucked into a woman’s undergarments and positioned comfortably over the lower abdominal area. Each Allay will last for 30-days at a MSRP of $29.95 each.
Placement of Allay
Each Allay lasts 30 days
So you can be there ... and be yourself.
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Due to the lack of effective and available heel pain treatment options, the Smart Insole™ was developed to treat heel pain at the source to provide long-lasting relief and accelerated recovery. The Electro-Pulse technology is clinically proven to reduce heel pain caused by conditions such as plantar fasciitis, heel injuries and general day to day soreness.
Clinically proven to safely reduce heel pain including plantar fasciitis, heel injuries, sore heels, sprains & strains
Increases blood flow and reduces inflammation
Long-lasting relief The Smart Insole™ consists of Electro-Pulse micro medical devices that are embedded in comfortable heel gel inserts. These dynamic gel inserts offer a combination of the Electromagnetic Pulse Therapy and comfort with every step. A nighttime wrap is included so you can easily receive 24/7 continuous heel pain relief therapy.
Plantar Fasciitis Clinical Study
• Randomized control trial (RCT). • Average time with heel pain 13 months. • After 7 days overnight therapy morning
heel pain declined by 40% in the study group.
• 7% in control group. • Decrease was statistically significant. • Trend to decreased medication use.
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Extraordinary Medical Product Line
RecoveryRx® Sales and Distribution
Chronic Wound Care: Billions of dollars are spent each year treating diabetic neuropathic foot ulcers. Current available therapies are not effective or result in lengthy healing times. RecoveryRx® heals diabetic ulcers faster than alternative therapeutic agents at a fraction of the cost and will strongly compete within this billion-dollar market.
Post-Surgical Healing: Seventy-five percent of surgical patients have post-surgical pain. The markets for the RecoveryRx® products are:
o Plastic Surgeons o Oral Surgeons o Orthopedic Surgeons o General Surgeons for complex C-Sections and Hernias o Wound care centers, nursing homes, hospitals, and home health care specialists for
chronic wounds o Podiatrists o Chiropractors o Pain clinics for the Contactless TENS
In addition the company manufactures HealFast® Therapy a product line for pets and horses that it sells through a distributor.
Postoperative Pain & Edema Recovery & Pain Management
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Market Opportunity The following table shows the markets and market potential:
Potential Customer Base Population
Australia 23,342,553
Brazil 200,361,925
Canada 35,181,704
China 385,566,537
Europe 602,105,123
India 300,000,000
Japan 127,000,000
Mexico 122,332,399
New Zealand 4,505,761
Russia 142,833,689
United Kingdom 62,000,000
South Korea 50,219,669
Turkey 74,932,641
US. 330,000,000
Total 2,460,382,001
Percentage of World Population 34.7%
The Chinese and Indian markets are reduced to population estimates that can afford Western medical care.
Disease State Incidences and Retail Market Value
Market Population
Existing Therapeutic Products Price Millions Market 2,460,382,001
Back 30.00$ 484,695,254 14,540,857,626$ 19.7%
Knee 30.00$ 442,868,760 13,286,062,805$ 18.0%
Muscle & Joints (Adhesives) 30.00$ 298,228,121 8,946,843,640$ 12.1%
Wrist (carpal tunnel) & Elbow 30.00$ 111,835,546 3,355,066,365$ 4.5%
Foot & Ankle (Achilles) 50.00$ 7,381,146 369,057,300$ 0.3%
Chronic Wounds 30.00$ 87,750,000 2,632,500,000$ 3.6%
Diabetic Neuropathy @ 15% of Diabetics 50.00$ 27,360,000 1,368,000,000$ 7.8%
Post-operative 30.00$ 149,760,000 4,492,800,000$ 6.1%
Total 1,609,878,827 48,991,187,736$
*234 million surgeries worldwide 75% have postoperative pain in 64 % of population covered.
ActiPatch® UK Packaging Market Research Consumer Perception
ActiPatch® is regarded as innovative (90%).
ActiPatch® is credible (89%).
Positive reaction on drug free, long lasting and ease of use. Benchmark vs. Competition
ActiPatch® is seen to have an advantage over similar products (87%).
ActiPatch® is ranked above competitive topical pain relief brands (1.88).
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Purchase Decision Influencers
Major purchase influencers o Long Lasting Relief o Reduces Inflammation o Economical o Drug-free
48% believe £15-£20 is at least good value for money.
90% believe £15-£20 is at least fair value for money. Purchase Intent Sales Potential
UK Market - £18MM+ retail sales in 3 years.
Estimated 3% value share in total analgesics and 18% topicals.
Strategic Initiatives to Capture the Market
BioElectronics is executing strategic initiatives to ensure that it captures a significant portion of that market space. The company is doing the following:
1. Executing an aggressive marketing and sales program in the large European markets and select other global markets;
2. PR program to develop political and public support to compel the US FDA to recognize our therapeutic solution to the dire need for an alternative to the devastating side effects and addictions of OTC and prescription drugs; and
3. Continuing high quality clinical research, to further substantiate clinical efficacy and establish more indications of use.
First – Sales and Distribution Global Retail Sales and Marketing Program, ActiPatch, Smart Insole, and Allay Last year, we engaged the Gro-International team (retail brand managers) to position our products for European sales and despite the slow global recovery they have made some significant progress. Our ActiPatch® Therapy product is on the shelves at Boots, the leading pharmacy chain in the United Kingdom and a role model in the industry. Boots is a strategic member of the Boots-Alliance the world’s first global pharmacy-led health and well-being enterprise. Walgreens, the largest drugstore chain in the US, acquired 45% of Alliance-Boots. The ActiPatch® brand is supported by public relations activity, co-marketing initiatives with Boots and product sampling. Fuel PR International (www.fuelrefuel.com) is a leading European based PR & Advertising firm that is providing support of the launch of ActiPatch in Boots stores and online by:
Positioning ActiPatch as the cost-effective, drug free solution to musculoskeletal pain
Build brand credibility & awareness with consumers in the UK
Conduct public relations campaigns using clinical evidence, expert knowledge and internal experts to establish trust and reinforce credentials of ActiPatch
Drive expert recognition to reinforce product credentials via credible journalists to stimulate a new and more authoritative perspective on ActiPatch
Recruit brand ambassadors – sports performance people and bloggers – introduce them to the product & the concept
ActiPatch® was the runner-up for the UK’s OTC Bulletin’s Most Innovative New Product last year and its new packaging has been nominated this year for Most Creative Packaging. Also, the Company’s new Smart Insole product has also been nominated for Most Innovative New Product this year.
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Our products caught the attention of several leading interested parties including three of Europe’s largest pharmaceutical companies. We are actively exploring distribution and co-branding licensing proposals with all three. Retail sales expansion is being addressed with Territorial Distribution Agreements wherein we sell the distributor finished package product and Licensing and Supply Agreements to large over-the-counter (“OTC”) pharmaceutical companies with existing manufacturing and sales and marketing, which we sell only the electronics and collect a royalty. The larger OTC pharmaceutical companies’ sales and distribution are concentrated key markets, which necessitate several license and supply agreements augmented with territorial distribution agreements. The licensing and supply agreements proposals offer significant potential advantages to the Company. The most immediate would be product sales to companies with well-established, funded marketing and sales channels, and licensing agreements with royalty income. This strategy maintains our first-to-market advantage while giving us access to a good income stream and marketing power and access to capital (without further dilution). Another advantage would be the spill-over affect associated with this co-branding alliance on our other brands and obtaining additional distribution in other regions. BioElectronics has developed the devices to maintain the cost of goods below 20%. This cost advantage provides the basis for good up-front fees and royalty payments. Medical Device Sales - RecoveryRx The key to marketing to physicians and other health care professionals is existing relationships and clinical evidence. We are identifying key Companies in the following sales channels:
1. Wound Care dressing manufacturers as an advanced therapy for chronic wounds and post-operative pain.
2. Manufacturers of orthopedic surgical implants for the treatment of post-operative pain and inflammation.
3. Sports medicine suppliers of medical wraps and braces. 4. Negative Pressure Vacuum manufacturers to use our inexpensive device as an
adjunctive treatment to negate pain, accelerate healing, and close the wound after removal of the device.
5. Diabetic wound product suppliers to stimulate healing. 6. Dental instrument and implant manufacturers. 7. Physical therapy, chiropractors, podiatrists and other medical specialty suppliers.
Second – Developing political and public support to compel the US FDA and the National Institute of Health to recognize our therapeutic pain solution The administration has tasked the FDA to deal with two critical situations. The first dire situation is the CDC declared “epidemic of prescription drug abuse” that is killing about 43 Americans each day – or about 16,000 annually. The second problem is the anticipated demand for physician services from the 47 million new patients who will enter the system as a result of the Affordable Healthcare Act. (50% of the visits to emergency rooms are prompted by pain complaints). Pain accounts for 20% of healthcare costs. The Affordable Healthcare Act mandates that the National Institute of Health formulates a Pain Consortium with the relevant government agencies, and industry participants submit our evidence of safety and effectiveness and request that the NIH petition the FDA to reclassify our device to clear our device for market to allow over-the-counter sales. We think this is an opportunity for us to change our dynamic with the agency. Both of these issues can be mitigated by OTC availability of our safe, effective Bioelectroceutical™ technology. We’ve taken the following steps to increase both awareness by the FDA and political pressure on
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the agency to rethink their out-dated approach. There seems to be a change in attitude as evidenced by the May 2013 Public Advisory Committee and the FDA recommended reclassification of Pulsed RF electromagnetic devices from Class III to Class II for postoperative pain and edema. This reclassification should help us get ActiPatch Therapy an indication of use and OTC market clearance for the relief of musculoskeletal pain. Bioelectroceutical™ healing and pain relief is a safe and effective analgesic and a viable alternative to the vicious cycle of drug therapy; that is, the cycle wherein marginally efficacious therapy leads to increasing dosage and therapeutic agent demands, particularly in the challenging cases of back and other musculoskeletal pain. Systemic drugs only mask the pain and do not accelerate the healing process, resulting in long-term use at increasing dosages, which increases the risks of hazardous side effects. This vicious cycle also asserts a significant additional demand for physicians’ services and a corresponding increase in healthcare costs. Third -- Continuing clinical research and development of its pipeline of new products Continuing high quality clinical research, to further substantiate clinical efficacy and establish more indications of use. Significant progress has been made on this front, with clinical trials on three musculoskeletal pain conditions, plantar fasciitis, acute lower back and osteoarthritis of the knee. Two studies are being conducted on postoperative pain, hernia recovery and 3
rd molar extraction. An
independent study is also being conducted on venous stasis ulcer wound healing and pain management. All the clinical research is being conducted by well respected, and widely published clinical researchers. At this time the plantar fasciitis study has just been completed. The primary end point of this study was disability and pain at six months after ActiPatch therapy. The results show excellent improvement at the 6 month time point, indicative of tissue remodeling and healing. The subjects had chronic plantar fasciitis presenting with symptoms for an average of 29 months prior to joining the study with high levels of pain and disability. Rapid progress has also been made on the acute lower back pain and osteoarthritis of the knee studies. Interim results for the acute lower back pain study were very promising. We are hopeful that together the results from these three clinical trials as a series of diverse musculoskeletal pain conditions will allow us to compliment and support our continuing efforts with the US FDA to gain market clearance for ActiPatch. The two postoperative pain clinical studies will be completed in the first half of 2014.
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MANAGEMENT and DIRECTORS Richard Staelin, Ph. D. – Chairman of the Board Dr. Staelin joined the Board in 2006. He is the Edward and Rose Donnell Chaired Professor of Business Admininstration at Duke University’s Fuqua School of Business and the President of Informs Society for Marketing Scientists. He was the Associate Dean at The Fuqua School of Business for 10 years, the past Executive Director of Marketing Science Institute and has held numerous positions at the American Marketing Association (AMA) and The Institute of Management Science (TIMS). He was editor or an editorial board member of Marketing Science, Journal of Marketing Research, the Journal of Marketing, the Journal of Consumer Psychology and the Journal of Consumer Research. He has also consulted for the FDA and the FTC. Andrew J. Whelan, President & CEO Mr. Whelan is a founder of the Company and has served as the President and on the Board of Directors since April 2000. He is a seasoned business executive with a strong financial, consulting and management background. From 1993 to April 2000, Mr. Whelan served as the President of P.A. Whelan & Company, Inc., a consulting firm owned by Mr. Whelan and his wife that specialized in the health care industry. Mr. Whelan was also a founder of Drug Counters, Inc., a chain of managed care retail pharmacies, where he served as President and Chief Executive Officer from 1992 until 1993. Drug Counters was sold to Diagnostek, Inc. in 1994. From 1984 until 1992, Mr. Whelan served as Chairman of the Board of Directors and President of Physicians’ Pharmaceutical Services, Inc., a public company of which he was a founder. Physicians Pharmaceutical Services was a charter member of the Maryland Chapter of “Inc’s Fastest Growing Companies in America.” Mr. Whelan received his B.S. in accounting from St. Peter’s College. Mary K. Whelan – Director Ms. Whelan has served as a director of the Company since April 2002. Ms. Whelan also served as Vice President – Marketing from September 2002 until July 2003 and as Secretary from February 2002 until September 2004. Ms. Whelan currently is President of eMarkets Group, a marketing and sales company which distributes the HealFast Therapy product line. She was previously EVP at mPhase Technologies. She worked more than 20 years at AT&T Corp., Lucent Technologies, Inc. and Bell Labs. During that time Ms. Whelan successfully launched many high technology products. Ms. Whelan served as Vice President – eBusiness at Lucent Technologies. Prior to that, Ms. Whelan was Lucent’s Vice President – Strategic Communications and Market Operations, in which capacity she was responsible for Lucent Technologies’ global marketing operations, including marketing communications and customer programs, and for the global sales support environment for the worldwide sales force. That environment included channel development, sales training, recognition and compensation. Ms. Whelan has extensive experience in all aspects of marketing and public relations at AT&T. She also had P&L responsibility for AT&T’s Directory business. Ms. Whelan is the sister of Andrew Whelan. William Monn, Vice President of Production Mr. Monn has over 30 years of experience in production management. As the Production Manager for Structural Systems Inc., he ensured timely shipments to customers, supervised quality control and implemented safety and performance standards. As the Plant Manager for Hartz & Company, he led production improvements and initiatives that resulted in an outstanding quality reputation. He trained and supervised a staff of 347 and analyzed and improved departmental operations resulting in a 15% increase in productivity. Mr. Monn was the Production and Quality Assurance Manager of Burberry’s Wholesale LTD where he managed warehouse operations. Ian Rawe, Ph.D., Director, Clinical Research Dr. Rawe obtained a Bachelor’s Degree in Biology, at the University of Hertfordshire and a Ph.D. in Biophysics at the Open University, Oxford, UK studying wound healing of the cornea. Dr. Rawe has extensive research experience having spent 15 years conducting research on eye disease at Harvard Medical School. He brings expertise in designing and implementing research
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studies and publishing research articles. His role in the company is to publish completed research studies, design and develop clinical trials utilizing the Company’s technology. He has substantial experience in writing and obtaining grants. John Martinez, Senior Engineer Mr. Martinez has served as Senior Engineer of the Company since April 2002. Mr. Martinez holds a Bachelors of Applied Science degree in Electronics Engineering Technology from ITT Technical Institute where he graduated with highest honors, and has worked exclusively in the electronics-engineering field for over fifteen years. His dedication and experience in multiple fields of engineering, including electronic, electromechanical, computer and communication systems, represent the foundation of his engineering talents. Mr. Martinez was the co-founder of MW Engineering, Inc., where he served as Senior Engineering Director from 1999 until April 2002. As Senior Engineering Director, Mr. Martinez was in charge of all of MW Engineering’s hardware, firmware and software development. Ben Fichter, Marketing Manager Mr. Fichter is the Marketing Manager and is responsible for internet based sales, the Company’s websites, social media management, and public relations. Prior to joining BioElectronics in 2010, he was a Marketing Coordinator for a wholesale sign supply company in Ohio. Under his management of the sign supply company’s marketing and administrative functions, sales increased over 25%. Mr. Fichter earned a Bachelor’s degree in Marketing from Walsh University, North Canton, Ohio.
