Sree Koneru, PhD Joins the Board of Directors of BioElectronics Corporation

FREDERICK, Md., Dec. 03, 2024 (GLOBE NEWSWIRE) — BioElectronics Corporation (https://www.bielcorp.com/ OTC: BIEL, a developer of medical technology products, today announces that Sree Koneru, PhD, will join its Board of Directors, effective December 3, 2024. Upon Dr. Koneru’s appointment, the Board will consist of three members, including Kelly Whelan, President of BioElectronics, and its Chairman, Richard Staelin, PhD.

“We are honored to welcome Sree Koneru to the Board. Sree brings a rich depth of experience in medical device development.  We welcome his insight as we execute our strategy,” said Kelly Whelan, President of BioElectronics Corporation. 

“I am honored to join the Board of Directors at BioElectronics, a company at the forefront of innovations in neuromodulation,” said Sree Koneru, “The Company’s role in pioneering non-pharmacological solutions for pain management and other chronic disease states, aligns with my passion for improving lives through advances in neuromodulation technology. I look forward to contributing to the success and transformative impact of the incredible technology manufactured and distributed by BioElectronics Corporation.”

“As we continue to pursue our mission of focusing on R&D aimed at delivering non-pharmacological solutions for acute, chronic and neuropathic pain, Sree is the ideal addition to our Board to help guide our growth as we scale efficiently, while also reaching new markets,” said Richard Staelin, PhD, Chairman of the Board of BioElectronics Corporation.  “We are thrilled to have Sree join the Board, and we look forward to working together.”

Dr. Koneru is Director of Program Management for a contract manufacturing organization that specializes in the design & development of wearable and implantable active electronic medical devices. In his previous role, Sree served as the VP of Product Development for BioElectronics Corporation, where he was responsible for prototype development, physiological testing/clinical evaluation, and regulatory submissions, culminating in several approvals from the US FDA and a CE marking. He also managed the product life cycle from conception to retail launch for domestic and international channel partners.

Sree obtained his doctoral degree in Biomedical Engineering (’15) from the State University of New York at Binghamton, NY- USA. He has a background in bringing Neuromodulation (Electroceuticals) medical devices to market, with research expertise in investigating physiological responses (prototype development and clinical research) of pulsed radiofrequency electromagnetic fields. His vision is to be an industry leader in developing transcutaneous, percutaneous, implantable, and electromagnetic neuromodulation technologies, intended to treat chronic diseases.

Certain information set forth in this release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

IR@bielcorp.com