Cell MedX Corp. Provides Letter to Shareholders from Mr. Dwayne Yaretz, CEO
Carson City, Nevada, April 27, 2022, Cell MedX Corp. (OTCQB: CMXC) (“Cell MedX” or the “Company”), a biotech company focusing on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general wellness, is pleased to issue the following letter from Mr. Dwayne Yaretz the Company’s new CEO.
Mr. Yaretz, CEO;
Having recently accepted the positions of CEO and Director of Cell MedX, I wanted to introduce myself to you, highlight the Company’s most recent accomplishments and our vision for the future.
For more than 30 years, I have honed my skills with private and public companies and been instrumental in the development and execution of successful business models that focus and deliver on shareholder value.
What drew me to Cell MedX is working within the medical device and electroceutical space to deliver on those same values. I believe in the potential within the bioelectronics and medical device space – an arena that I have had the pleasure of working in firsthand.
Back in 2003 at the height of the SARS epidemic, I completed an RTO with Cantronic Systems Inc. to become a publicly trading company and remained as a Director to help them reach their full potential. They needed capital and access to the public markets to accelerate their growth within the medical and industrial device space.
Today, Cantronic Systems Inc. supplies its Health Canada approved medical device body temperature scanners to Fortune 500 companies that include Walmart, Johnson and Johnson, Home Depot, Maple Leaf Foods and Saputo as well as Canadian and US government facilities, schools and more than 100 major airports in over 40 countries worldwide.
I see that same potential in Cell MedX with their significant progress in the development, testing and approval process in bringing a medical device to market.
OPPORTUNITY
Our global population is aging, and with aging comes a higher incidence of chronic pain and other ailments. According to the Boston University School of Public Health, “it is estimated that 1.5 billion people suffer from chronic pain, with prevalence increasing with age.” This is where I believe the Cell MedX, eBalance® Home and eBalance® Pro System may impact the “electroceutical/bioelectronics medicine” marketplace.
Time Magazine and Scientific American have reported that electroceutical therapies could soon replace drugs for many chronic conditions. Not surprisingly, companies such as GlaxoSmithKline (GSK), Microsoft, Medtronic, Boston Scientific Abbott Labs and Sonova, to name a few, are also researching the use of electroceutical therapies/products to treat a broad spectrum of diseases that are currently principally treated with pharmaceuticals.
GlaxoSmithKline and Google’s Life Science division committed USD 715 million to Galvani Bioelectronics to focus on targeting electrical signals in the body to fight diseases. The article hyperlinked above features a short video with the CEO of GSK speaking about how they plan to “go big” on bioelectronic medicine.
In addition to Big Pharma’s interest in bioelectronic medicine, the National Institutes of Health (NIH) announced a fund of $248 million to develop future electroceuticals. The NIH reported that bioelectric medicine, “could offer new treatment options for diverse diseases and conditions such as hypertension, heart failure, gastrointestinal disorders, and more” According to Kenneth Research, the global electroceutical market is growing at a CAGR of 7.67% and is projected to reach USD 33.14 billion by 2025.
Cell MedX began its research and development in electroceuticals more than 6 years ago when the Company recognized the need for an effective, drug-free, affordable electroceuticals system treatment which would address acute and chronic pain. The system needed to be designed to deliver treatments with consistency and simplicity. As a result, the eBalance® Home System was developed.
It is no surprise that in our post-COVID world, many people prefer home treatment to avoid being exposed to crowded waiting rooms when seeking medical treatment. Cell MedX has positioned itself to give pain sufferers the ability to treat themselves in the comfort of their own homes.
For those who require more specific and targeted pain relief, the same technology was used to develop the eBalance® Pro System whereby a health care practitioner would direct the treatment to a specific injury or area of strain using pen probes.
RESULTS
In 2016, Cell MedX engaged Nutrasource Diagnostics Inc., a Clinical Research Organization to conduct an Observational Clinical Trial approved by the Ethics Review Board. The trial was conducted by Lead Investigator, Dr. Richard Tytus, of Hamilton Medical Research Group.
The focus of the trial was to assess the impact of eBalance® therapy for diabetes as an adjunct treatment based on the subject’s baseline data and medical history. The trial period was 12 weeks and was designed to deliver two 15-minute treatments per week. The trial showed promising results by lowering HbA1C by 1.91%. To put this in perspective, a 1% drop in HbA1C lowers the risk of microvascular complications by 37%, heart failure by 16% and diabetes-related deaths by 21%.
As well as the eBalance®Home and Pro Systems technology demonstrating efficacy in the treatment of both Type I and Type II diabetes, the same Observational Trial also demonstrated a clinically significant reduction of 9.6% of systolic pressure and a 10.4% reduction of diastolic pressure and, in addition, a significant reduction of edema and improvement of overall kidney function.
MILESTONES
After the Observational Trial was complete, the Company began tackling the long and detailed regulatory process to bring their technology to market. In 2020, the Company completed and received its Medical Single Audit Program (MDSAP) Certificate which is a mandatory requirement for manufacturing and distributing Class II medical devices in Canada.
In the same month, Cell MedX received its ISO 13485:2016 Certificate FM716345, confirming that the Company operates an effective Quality Management System appropriate for the safe design, development and manufacturing of medical devices.
Just months later, in July and August 2020, Cell MedX received Health Canada Class II Medical Device approvals for both the eBalance Home System and the eBalance Pro System.
More recently, in September 2021 Cell MedX filed its US premarket notification 510k submission with the US Food and Drug Administration (FDA). The FDA has acknowledged the submission and begun their review process.
VISION
Having a Class II Medical Device approvals in place and with the FDA premarket notification 510k in process, the Cell MedX team is excited and for good reason. We are keenly aware that the great need for pain relief has opened the door to opioid addiction crisis in North America and elsewhere. The eBalance® Home and Pro Systems have no known side effects and may be of great benefit for those seeking a non-drug and non-addictive solution to pain relief.
The encouraging results of their initial Observational Trial have opened the door to further exploratory research and development opportunities into the efficacy of the eBalance® microcurrent technology as it relates to pain management and its benefit when used to treat other medical conditions such as kidney function, edema, diabetes, blood pressure and shingles.
As part of the process, Cell MedX Corp. looks to a bright future working with independent laboratories, research institutes and government organizations to further develop the current medical indications and study the benefits of eBalance® technology for a multitude of medical conditions. It may very well be that the future of medical treatments moves toward helping the body heal itself at the cellular level using electroceuticals rather than using pharmaceuticals, which the use often include a laundry list of contraindications and side effects.
As the world emerges from two years of COVID lockdowns, and with Health Canada approvals in hand, the Company is now able to pursue the introduction of its eBalance® Pro System and technology into medical and wellness clinics and specialty pain clinics within Canada. During the “roll-out” process we will continue to build meaningful relationships with healthcare professionals and gain important insights. We also hope to complete a successful process with the FDA and set our sights on the US market and beyond. Pain knows no borders and it is our future goal to help pain sufferers globally.
The electroceutical/biomedical market is a rapidly growing industry with companies both large and small pursuing ways in which technology can improve the lives of billions of people. I believe Cell MedX’s technology will attract a tremendous amount of attention from pain sufferers and the medical community, particularly as Big Pharma is also making a concerted effort to pursue the science and efficacy of electroceuticals.
It is my plan that Cell MedX will continue its pursuit in helping the 1.5 billion pain sufferers globally and then leverage its technology and expertise to develop additional treatments/systems for other medical ailments.
1: https://www.bu.edu/sph/news/articles/2017/chronic-pain-and-the-health-of-populations/
4: https://commonfund.nih.gov/SPARC
About Cell MedX Corp.
Cell MedX Corp. is a biotech company focused on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general wellness and alleviate complications associated with medical conditions including, but not limited to: diabetes, Parkinson’s disease, high blood pressure, neuropathy and kidney function. The Company’s main focus is on continued research and development of its eBalance® Technology and its eBalance® Home and eBalance® Pro Systems, which have received Health Canada Approval as Class II Medical Device Systems for pain associated with sore/aching muscles in the shoulders, waist, back, neck, upper extremities (arms) and lower extremities (legs) due to strain from exercise or normal household- or work-related activities. For more information about the Company and its technology please visit www.cellmedx.com/investors/overview/, or contact us at www.cellmedx.com/company/contact-us-copy/
On behalf of the Board of Directors of Cell MedX Corp.
Dwayne Yaretz
Director, CEO
Forward Looking Statements
The information included in this press release has not been reviewed by the FDA or Health Canada, nor has it been peer reviewed. This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects”, “intends”, “estimates”, “projects”, “anticipates”, “believes”, “could”, and other similar words. All statements addressing product performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties, some of which are described in the Company’s Quarterly, Annual and Current Reports filed with the United States Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Company’s forward-looking statements. Except as required by law, Cell MedX Corp. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Cell MedX Corp. files from time to time with the SEC, including its Annual, Quarterly and Current Reports.
SOURCE:
Cell MedX Corp.
For further information visit: www.cellmedx.com.
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