Biomerica Expands inFoods IBS Reach with Addition of Several New GI Groups

• Biomerica remains on track for inFoods IBS national rollout during calendar 2024, and expects strong product revenue growth during national rollout
• Veteran Vice President of Sales and National Accounts hired along with first set of regional sales representatives

IRVINE, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA), (the “Company”) a global provider of advanced medical products today announced that several new Gastrointestinal (GI) groups have signed up and begun using the Company's revolutionary inFoods IBS Product. This expansion demonstrates growing recognition and adoption of the inFoods IBS test in the medical community, broadening Biomerica's influence in providing innovative solutions for Irritable Bowel Syndrome (IBS) while positioning the Company for product revenue growth over the coming quarters. These new groups join Gastro Health, a group with 390 GI physicians which was the Company's first large physician group customer. In addition, several additional Gastro Health office locations have started using the inFoods IBS therapy for their IBS patients.

Among the new groups, the two that represent the largest opportunity include an integrated medical system, and an additional large GI group. Within these, Biomerica has started in key offices and plans to strategically add additional locations in the future. Notably, the integrated medical system employs approximately 7,500 medical staff and had over 150,000 inpatient discharges in fiscal year 2021. The large GI group has over 90 physicians in 60 locations and offers advanced treatment options for GI diseases.

The inFoods IBS product has been studied extensively, showcasing notable clinical outcomes in a double blinded, placebo-controlled study at several prominent medical centers including Mayo Clinic, Beth Israel Deaconess Medical Center Inc. – a Harvard Medical School Teaching Hospital, Houston Methodist Hospital, and the University of Michigan. The clinical results demonstrated a significant improvement in Abdominal Pain Intensity (API) (trial participants with >30% reduction in pain) for IBS patients in the treatment diet arm compared to those in the placebo diet arm (p-value of 0.0246) in the clinical trial. These improvements were not only deemed clinically significant but also in the case of certain endpoints, comparable or even superior to certain FDA cleared IBS drugs in the market.