Irritable Bowel Syndrome, or IBS, which is commonly referred to, plagues over 15 percent of the US population. IBS patients typically visit the doctor 3 times more than a normal patient, and healthcare costs associated with the disease is estimated to be in the $30 billion range. It remains a worldwide issue.
Biomerica Inc (NASDAQ:BMRA), an Irvine based company, is taking steps to radically change the way IBS is treated with its new proprietary technology and lower healthcare costs associated with the disease. Biomerica was uplisted to the NASDAQ exchange just two weeks ago.
IBS is commonly treated through altering the patients diet to avoid foods that may exacerbate symptoms. Biomerica new technology is taking treatment a step further, and is currently testing a product called InFoods, that can test what specific foods are causing symptoms of IBS.
How it works?
“A patient walks into a doctors office, gets a small finger prick, 15 minutes later, a test comes out that tells them which foods to eliminate to IBS patients” said Biomerica CEO Zachary Irani.
Once IBS patients can eliminate trigger foods, their symptoms generally subside. What makes Biomerica’s technology different is that it is testing for specific foods, and not just food groups.
“For Most IBS patients, once they eliminate a trigger foods, their symptoms will go away, they are not on this diet for life they are just eliminating foods that are problematic for them” said Biomerica CEO.
Not only does this new technology aim to relieve symptoms for the patient, it can also substantially reduce healthcare costs. Currently, there are no drugs on the market to help patients suffering from IBS.
“As soon as we come to an agreement with the FDA, we will initiate clinical trials which will take 1 year, and then the FDA submission will take 4-5 months. I think we have a very good opportunity to get approval” added Irani.
Biomerica Stock is up 1% in trading Friday. The company has an impressive board, and its proprietary technology is particularly exciting for the future of the healthcare industry. Keep a close eye on this company as it goes through the FDA approval process.