Biomerica, Inc. (Nasdaq: BMRA), (the “Company”) a global provider
of advanced medical products today announced that several new
Gastrointestinal (GI) groups have signed up and begun using the
Company's revolutionary inFoods® IBS Product. This expansion
demonstrates growing recognition and adoption of the inFoods IBS
test in the medical community, broadening Biomerica's influence in
providing innovative solutions for Irritable Bowel Syndrome (IBS)
while positioning the Company for product revenue growth over the
coming quarters. These new groups join Gastro Health, a group with
390 GI physicians which was the Company's first large physician
group customer. In addition, several additional Gastro Health
office locations have started using the inFoods IBS therapy for
their IBS patients.
Among the new groups, the two that represent the
largest opportunity include an integrated medical system, and an
additional large GI group. Within these, Biomerica has started in
key offices and plans to strategically add additional locations in
the future. Notably, the integrated medical system employs
approximately 7,500 medical staff and had over 150,000 inpatient
discharges in fiscal year 2021. The large GI group has over 90
physicians in 60 locations and offers advanced treatment options
for GI diseases.
The inFoods IBS product has been studied
extensively, showcasing notable clinical outcomes in a double
blinded, placebo-controlled study at several prominent medical
centers including Mayo Clinic, Beth Israel Deaconess Medical Center
Inc. – a Harvard Medical School Teaching Hospital, Houston
Methodist Hospital, and the University of Michigan. The clinical
results demonstrated a significant improvement in Abdominal Pain
Intensity (API) (trial participants with >30% reduction in pain)
for IBS patients in the treatment diet arm compared to those in the
placebo diet arm (p-value of 0.0246) in the clinical trial. These
improvements were not only deemed clinically significant but also
in the case of certain endpoints, comparable or even superior to
certain FDA cleared IBS drugs in the market.
Dr. Charles Randall, a leading
gastroenterologist, expressed, “We are excited to have the inFoods
IBS product as a new tool to help alleviate the suffering we see in
our IBS patients. The relief of IBS symptoms in the clinical study,
which we participated in, were significant, fostering enhanced
quality of life for those under our care.”
Patients have also praised the product, with one
sharing, “Using the inFoods IBS product has led to a life-changing
outcome for me. The relief from symptoms has significantly improved
my daily life, and I am immensely grateful.”
Salesforce Strengthened and Expanded to Meet
Expected Demand for inFoods IBS
To support this marketing and sales expansion,
Biomerica has strengthened its salesforce by adding a veteran Vice
President of Sales and National Accounts, along with key Territory
Managers. These hires will drive broader adoption by physician
groups and allow seamless integration of the inFoods IBS product
within the clinical workflow of new groups offering the product to
their patients.
“We are enthusiastic about the positive
reception and response of our inFoods IBS product among these new
GI groups,” said Zackary Irani, CEO of Biomerica.
Robert Carlson, CCO added, “We have now
completed the back-end and operational set-up to allow us to launch
the inFoods IBS product nationally. The product addresses the $30
billion IBS market where surprisingly little relief is currently
available for patients, and where there is significant existing
demand. Our dedicated team, along with our newly hired experienced
sales professionals, are expected to enable the Company to achieve
its revenue growth targets.”
Biomerica continues to solidify its position in
innovative GI solutions, with the inFoods IBS product being a
testament to improving patient lives. The Company remains steadfast
in its mission to enhance gastrointestinal care, reduce healthcare
costs, and improve the quality of life of approximately 750 million
individuals suffering from IBS around the world.
About Biomerica (NASDAQ:
BMRA) Biomerica, Inc.
(www.biomerica.com) is a global biomedical technology company that
develops, patents, manufactures and markets advanced diagnostic and
therapeutic products used at the point-of-care (in home and in
physicians' offices) and in hospital/clinical laboratories for
detection and/or treatment of medical conditions and diseases. The
Company's products are designed to enhance the health and
well-being of people, while reducing total healthcare
costs. Biomerica's primary focus is on gastrointestinal and
inflammatory diseases where the Company has multiple diagnostic and
therapeutic products in development.
About inFoods® The inFoods IBS
test is designed to assess a patient’s above normal
immunoreactivity to specific foods utilizing a simple finger-stick
blood sample. Instead of difficult to manage broad dietary
restrictions, physicians can now use the inFoods IBS information to
make targeted, patient-specific recommendations about trigger foods
that, when removed from the diet, may alleviate IBS symptoms such
as pain, bloating, diarrhea and constipation. The inFoods IBS test
and clinical outcomes were studied at several prominent centers
including Mayo Clinic, Beth Israel Deaconess Medical Center Inc. -
a Harvard Medical School Teaching Hospital, Houston Methodist
Hospital, and the University of Michigan. The clinical results for
improvement in the Abdominal Pain Intensity (API) responder
endpoint of >30% reduction in pain, for IBS patients in the
treatment diet arm was greater than patients in the placebo diet
arm (p-value of 0.0246). The improvement for patients in the
treatment arm versus the placebo arm is considered clinically
significant and for certain endpoints is similar and, in some
cases, better than the current drugs in the market. Further
information about Biomerica’s patented inFoods® Technology Platform
can be found at: https://biomerica.com/inFoods/our-technology/.
The Private Securities Litigation Reform Act of
1995 provides a "safe harbor" for forward-looking statements.
Certain information included in this press release (as well as
information included in oral statements or other written statements
made or to be made by Biomerica) contains statements that are
forward-looking, such as statements relating to the Company’s
current and future sales, revenues, overhead, expenses, cost of
goods, operations and earnings, efficacy of the Company’s products
and tests, FDA and/or international regulatory authorization for
the Company’s products to be marketed and sold, including the
inFoods ISB product, and the Company’s other current and future
products, the rapidity of testing results, uniqueness of the
Company’s products, accuracy of the Company’s tests and products,
expected completion of clinical studies, pricing of the Company’s
test kits, domestic and/or international market adoption and
acceptance and demand for the Company’s products, future use of the
Company's products by physicians to treat their patients, potential
revenues from the sale of current or future products, availability
of the Company’s test kits, patent protection and freedom to
operate on any of the Company’s products or technologies, future
production costs and overhead, sales and administrative costs,
R&D expenditures, materials costs, legal costs and other
extraordinary costs. Such forward-looking information involves
important risks and uncertainties that could significantly affect
anticipated results, in the future, including, without limitation:
earnings and other financial results; results of studies testing
the efficacy of the Company’s inFoods tests and other products;
regulatory approvals necessary prior to commercialization of the
Company’s products; availability of the Company’s test kits and
other products; capacity, shipping logistics, resource and other
constraints on our suppliers; dependence on our third party
manufacturers; dependence on international shipping carriers;
governmental import/export regulations; demand for our various
tests and other products; competition from other similar products
and from competitors that have significantly more financial and
other resources available to them; governmental virus control
regulations that make it difficult or impossible for the company to
maintain current operations; regulatory compliance and oversite,
and the Company’s ability to obtain patent protection on any
aspects of its diagnostic or therapeutic technologies. Accordingly,
such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of Biomerica.
Additionally, potential risks and uncertainties include, among
others, fluctuations in the Company's operating results due to its
business model and expansion plans, downturns in international and
or national economies, the Company's ability to raise additional
capital, the competitive environment in which the Company will be
competing, and the Company's dependence on strategic relationships.
The Company is under no obligation to update any forward-looking
statements after the date of this release.
Corporate Contact:
Zack Irani 949-645-2111
investors@biomerica.com
Source: Biomerica, Inc.
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