SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
___________________
Date of Report (Date of earliest event reported) July 24, 1997
BIOCONTROL TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-10822 25-1229323
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
300 Indian Springs Road, Indiana, Pennsylvania 15701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 349-1811
_________________________________________________________________
(Former name or former address,
if changes since last report.)
Item 1. Change in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Events.
On July 24, 1997, Biocontrol Technology, Inc.
(NASDAQ:BICO) announced that it expects to receive a total of
$1,210,000 revenue by year end from the manufacture of functional
electrical stimulators (FES), $328,000 of which has already been
received with $882,000 additional revenue anticipated during the
next five months. BICO produces the FES at its Indiana, PA manufacturing
facility under contract for NeuroControl Corporation (NeuroControl) of
Cleveland, Ohio.
Item 6. Resignation of Registrant's Directors.
Not Applicable
Item 7. Financial Statement, Pro Forma Financial Information
and Exhibits.
(a) Financial Statements and Businesses Acquired - Not
Applicable.
(b) Pro Forma Financial Information - Not Applicable.
(c) Exhibits-Press Release
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act
of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned hereunto duly authorized.
BIOCONTROL TECHNOLOGY, INC.
by /s/ Fred E. Cooper
Fred E. Cooper, CEO
DATED: July 24, 1997
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
Release: Immediate
For More Information, Call:
Investors Media
Diane McQuaide
Susan Taylor
1.412.429.0673 phone
1.412.279.9455 phone
1.412.279.9690 fax
1.412.279.9447 fax
BIOCONTROL GENERATING REVENUE IN FES PROGRAM
Pittsburgh, PA - July 24, 1997 - Biocontrol Technology, Inc.
(Nasdaq:BICO) announced today that it expects to receive a total
of $1,210,000 revenue by year end from the manufacture of
functional electrical stimulators (FES), $328,000 of which has
already been received with $882,000 additional revenue
anticipated during the next five months. BICO produces the FES
at its Indiana, PA manufacturing facility under contract for
NeuroControl Corporation (NeuroControl) of Cleveland, Ohio.
Demand for the devices will increase significantly as
NeuroControl expects Food and Drug Administration (FDA) market
approval before the end of July. On September 25, 1996, a panel
of advisors recommended that the FDA approve the device, called
Freehand, which will become the nation's first neural prosthetic
to restore function to a paralyzed limb.
The market for the Freehand functional electrical stimulator
is worldwide and NeuroControl has already established implant
centers in Australia and Europe.
BICO and NeuroControl are negotiating a long-term
manufacturing contract which, when finalized, would have a seven-
year minimum term commencing in 1998.
Freehand is surgically implanted beneath the skin to replace
damaged or severed nerves and stimulate muscles through
electrodes by restoring lost motor functions such as hand-
grasping and arm movement.
Biocontrol has been manufacturing the devices since 1990
when it began working on the FES research with Case Western
Reserve University. Biocontrol currently assists Case Western
with its next generation of stimulators.
In 1995, NeuroControl assumed commercialization of the FES
technology, retaining Biocontrol as the manufacturer of the
implantable portion of the Freehand. NeuroControl provides the
external shoulder-mounted controller and a transmitting coil worn
on the patient's torso and an electronics unit carried on the
patient's wheelchair.
Biocontrol Technology, Inc. has its corporate offices in
Pittsburgh, PA and is involved in the development and manufacture
of biomedical devices and environmental products.
