Woodside Biomedical Reaches $1 Million in Sales of Its Proprietary ReliefBand Device; Strategic Distribution Agreements and $17 Million Financing Round Help Fuel Company Growth.Business Editors and Health/Medical Writers CARLSBAD, Calif.--(BW HealthWire)--May 10, 2000 Woodside Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Inc. achieved $1 million in gross cumulative sales this quarter for the over-the-counter and prescription models of its ReliefBand(R) device, announced Greg Gruzdowich, president and chief executive officer of the Carlsbad-based medical device manufacturer. The ReliefBand, a drug-free, non-invasive device for the relief of nausea and vomiting Nausea and Vomiting Definition Nausea is the sensation of being about to vomit. Vomiting, or emesis, is the expelling of undigested food through the mouth. , is available over-the-counter for motion sickness motion sickness, waves of nausea and vomiting experienced by some people, resulting from the sudden changes in movement of a vehicle. The ailment is also known as seasickness, car sickness, train sickness, airsickness, and swing sickness. , including airsickness airsickness: see motion sickness. , carsickness carsickness /car·sick·ness/ (kahr´sik-nes) motion sickness due to automobile or other vehicular travel. car·sick·ness n. A form of motion sickness caused by travel in a motor vehicle. and seasickness seasickness: see motion sickness. . The device is also available by prescription to treat nausea and vomiting due to morning sickness morning sickness n. Nausea and vomiting upon rising in the morning, especially during early pregnancy. Also called nausea gravidarum. morning sickness and chemotherapy, as well as for post-operative nausea. "Over the past year, Woodside has demonstrated success in introducing the ReliefBand into multiple clinical markets and as an OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). treatment option," Gruzdowich said. "The device is gaining adoption among our target audiences, which range from medical professionals to general consumers." Recently, Woodside completed a private financing of approximately $17 million. Investors in this round include Patricof & Co. Ventures, Sequel Venture Partners, Pacific Life Insurance Company, Mayfield Fund, Menlo Ventures, Enterprise Partners and Kingsbury Capital Partners. Over the past three years, Woodside has raised approximately $32 million in venture financing. ReliefBand Device More Widely Available for Prescription Indications Since late 1998, the ReliefBand device has been available by prescription for the treatment of nausea and vomiting caused by chemotherapy and morning sickness. Currently, the device is in use in more than 250 oncology and obstetric offices and hospitals nationwide and stocked by more than 1,000 pharmacies, with reimbursement available through many insurers, such as Aetna US Healthcare. In December, Woodside received FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. authorization to market the ReliefBand for a third clinical indication: post-operative nausea, when used as an adjunct to anti-emetics. The company is currently working with hospitals to introduce this new use of the device. "Since we began utilizing the ReliefBand post-operatively, patients who were experiencing high levels of nausea have reported a notable reduction when using the device," said Dr. Dave Hunstad, Attending Staff Anesthesiologist Anesthesiologist A medical specialist who administers an anesthetic to a patient before he is treated. Mentioned in: Anesthesia, General, Appendectomy, Parathyroidectomy anesthesiologist at William Beaumont Hospital This article is about William Beaumont Hospital, Michigan. For for the hospital in Dublin, see Beaumont Hospital, Dublin. William Beaumont Hospital is a regional medical system in the greater Detroit, Michigan area. in Troy, Mich. "The ReliefBand is a valuable, non-drug option for patients and I am pleased that William Beaumont is one of the first hospitals in the nation to adopt this new innovative technology." Specialty Retailers Offer Distribution for Over-the-Counter Model For consumers, the ReliefBand is available as a motion sickness treatment through more than 30 major specialty retailers, including Internet, catalog and brick-and-mortar stores such as drugstore.com, the Herrington catalog and The Sharper Image. Woodside is also targeting aviation and marine enthusiasts through a comprehensive marketing program, including print advertisements and special event sponsorships for such high-profile events as the recent Newport to Ensenada Regatta, the largest international yacht race in the world. "Woodside's goal for 2000 is to make the OTC model of the ReliefBand available wherever motion sickness is a potential problem," Gruzdowich noted. About the ReliefBand The ReliefBand device uses gentle electrical signals to stimulate nerves in the wrist. This wrist stimulation, according to the theory of action proposed by some researchers, causes natural nerve impulses to travel up the arm into the spinal cord spinal cord, the part of the nervous system occupying the hollow interior (vertebral canal) of the series of vertebrae that form the spinal column, technically known as the vertebral column. and brain. It is believed that these natural nerve impulses interfere with the nausea messages going to the stomach. The ReliefBand is easy-to-use, doesn't cause drug-drug interactions, or drowsiness and the effects last as long as it is worn. Also, because it's drug-free, it has no drug-like side effects. About Woodside Biomedical Woodside Biomedical develops, manufactures and markets therapeutic medical devices for the treatment of nausea and vomiting. Additional information about the company and the ReliefBand device can be obtained from Woodside's Web site at www.reliefband.com. Except for the historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, risks and uncertainties associated with market acceptance of the ReliefBand device, whether the company will be successful in raising additional funds, the risk that sales of the ReliefBand device will not increase to target levels, and the effectiveness and marketability of medical products, as well as other risks. ReliefBand device is a registered trademark of Woodside Biomedical Inc. |
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