Bioelectric Medical Solutions, Inc. to Complete Next Stage Development Efforts on it's Core Technology
San Diego, CA - February 4, 2008 - Today, Bioelectric Medical Solutions, Inc. (BMSI) announced it has received an infusion of angel investment funding to complete next stage development efforts on its core technology.
BMSI, a San Diego early stage biomedical research, product development and licensing company, is developing break-through platform technologies for the large and growing underserved segments of the market which focus on pain and the rejuvenation, regeneration, and repair of soft tissues. Terms of the funding were not disclosed.
The funding will allow BMSI to continue development of its pain reduction, soft tissue repair and regeneration technologies.
Chronic pain is among the most disabling and costly afflictions in North America as well as globally. It is one of the most common reasons patient seek medical attention. BMSI is initially focusing on musculoskeletal pain and soft tissue injuries related to sports and work related injuries. There is a growing market demand for alternative solutions to the failure or toxicity of classic pharmaceutical products and conventional medicine as we know it today. Although anti-inflammatory medication remains popular in acute and chronic soft tissue injuries their efficacy is limited and their side effects can be harmful. Some pain relief is often obtained, but dramatic effects on the healing of the injury can not be expected. Corticosteroids are also often used and actually have the potential to delay or halt healing, particularly in acute injuries.
Microcurrent therapy offers a solution to the problem by promoting soft tissue healing, reducing soft tissue swelling & inflammation, strengthening the immune system and alleviating pain. However, current effective Microcurrent therapy systems are complex, expensive, and time consuming for patients experiencing pain and soft tissue injuries. Access to therapy from these large machines requires multiple office visits and requires prescriptions from physicians.
BMSI seeks to capture the effectiveness of these large expensive machines with a miniaturized, over-the-counter and affordable microprocessor based wireless system. The discs in the system are about the size of a silver dollar, will rapidly reduce pain and swelling in a convenient, affordable and easy to use manner.
“We’re extremely pleased with this investment. The investment is a strong endorsement of the effectiveness of the current technology in my clinic setting and the belief in our plan at BMSI to optimize and miniaturize it for more wide spread use,” said BMSI CEO Peter Lathrop. Clinical trials will begin mid to late summer 2008. Like other medical devices, the product will require completion of the 90 day 510(k) market clearance process through the U.S. Food & Drug Administration. |
