Electromedical Technologies Enters Phase 2 of Prototype development on WellnessPro POD™

Rhea-AI Summary

Electromedical Technologies, Inc. (OTCQB: EMED) has entered Phase 2 of developing the WellnessPro POD™ device, focusing on efficacy and product integration testing, expected to conclude by Fall 2021. This device aims to provide a non-opioid solution for chronic pain management, targeting mass-market retail customers. The upcoming FDA 510(k) submission reflects the company’s commitment to addressing the opioid crisis. CEO Matthew Wolfson highlights the potential for EMED to capture significant market share by offering safe, drug-free pain relief alternatives.

Positive

• Entering Phase 2 of the WellnessPro POD™ device development.
• Aiming for FDA clearance to expand product offerings in the chronic pain market.
• Positioned as a non-opioid, drug-free solution, appealing to customers amid the opioid crisis.

Negative

• None.

- Efficacy and Product Integration Testing Slated for Completion in Fall 2021

- Upon FDA Clearance the WellnessPro POD™ Device Could Emerge as a Leading Chronic Pain drug-free choice to Opioids for Mass Market Retail Customers.

SCOTTSDALE, Ariz., April 20, 2021 (GLOBE NEWSWIRE) -- Electromedical Technologies, Inc. (OTCQB: EMED ) (the "Company"), a pioneer in the development and manufacturing of bioelectronic devices, including the FDA cleared WellnessPro+Plus^® is pleased to announce that the Company has entered into Phase 2 of prototype construction of the new WellnessPro POD™. The second phase of the process features overall efficacy and product integration testing and is slated to be completed in the Fall 2021. Once complete, the device will be used in a 510(k) medical device submission with the U.S. Food & Drug Administration (FDA).  WellnessPro POD™ is positioned as a new, smaller, professional grade wearable device for mass market retail customers seeking non-opioid therapy to treat chronic pain, and has the ability to work with the Company’s flagship WellnessPro+Plus^® device.

Chronic and acute pain sufferers around the world are actively seeking non-opioid alternatives to treat their conditions, especially during the COVID-19 pandemic, as noted in a recent article titled “COVID-19 and the Opioid Crisis: Dueling Epidemics Illustrate the Need for Future Action” that was written by Lauren Biscaldi and published April 15, 2021 in Neurology Advisor. (https://www.neurologyadvisor.com/topics/pain/two-concurrent-health-emergencies-covid-19-and-the-opioid-crisis/) Leveraging the Company’s drug free, non-invasive, non-toxic method to treat pain, Electromedical Technologies has seen strong sales of its current bioelectronics device and upon FDA clearance, is positioned to increase its market share via its mass market-designed WellnessPro POD™.

Matthew Wolfson, Founder and CEO of Electromedical Technologies , Inc (OTCQB: EMED), noted, “We have the ability to help people live pain free and are pleased that the Company has entered this critical accelerated phase of the development process for our new bioelectronics device that will be geared toward retail mass market. We understand that with COVID-19 and the overall opioid crisis in general, there is a strong need to help patients suffering from chronic and acute pain without causing addiction. We truly believe that our Company’s products, especially a retail version, will position EMED to be the go-to safe, non invasive drug free choice to opioids and allow us to enter into a whole new market. Bioelectronics is the future of medicine and this is why major companies like Google, GSK and other top pharmaceutical companies are investing heavily into this space!”

About Electromedical Technologies

Headquartered in Scottsdale, Arizona, Electromedical Technologies, Inc. is a commercial stage, FDA cleared, bioelectronic medical device manufacturing company initially focused on the treatment of various chronic, acute, intractable, and post-operative pain conditions. Through University collaboration agreements, the Company is working to develop a comprehensive research program in defining the effects of electro-modulation on the human body. By studying the impacts of electrical fields in cell signaling and immune responses, the Company’s goal is to reduce pain and improve overall human wellbeing. The Company’s current FDA cleared product indications are for chronic acute post traumatic and post-operative, intractable pain relief.   For more information, please visit www.electromedtech.com.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Corporate Contact:

Electromedical Technologies, Inc.
Hanover International
Tel: 1.888.880.7888
email: ir@electromedtech.com

https://electromedtech.com

FAQ

What is the WellnessPro POD™ device and its purpose?

The WellnessPro POD™ device is a wearable, non-opioid solution aimed at chronic pain management, currently in Phase 2 of development.

When is the FDA submission for the WellnessPro POD™ expected?

The FDA 510(k) submission is planned after the completion of efficacy and integration testing, slated for Fall 2021.

How does Electromedical Technologies plan to differentiate itself in the market?

Electromedical aims to differentiate by offering a drug-free, non-invasive device for pain management, responding to the growing need for alternatives to opioids.

What are the potential market implications for EMED after FDA clearance?

Upon FDA clearance, EMED anticipates increased market share by offering a retail-optimized, non-opioid pain relief solution.