New tattoo removal technology with potential for cellulite reduction and accelerating fat removal
Soliton, Inc. is offering securities through a Registration Statement that has been qualified by the Securities and Exchange Commission under the Securities Act of 1933. A copy of the Final Registration Statement as well as any supplements may be obtained both here and through this offering's "Fundraising" page. This offering page and accompanying offering materials may contain forward-looking statements and information relating to the company, its business plan and strategy, and its industry. These statements reflect management's current views with respect to future events based on information currently available and are subject to risk factors that could cause actual results to differ materially. Investors are cautioned to not rely on these forward-looking statements as they do not represent guarantees of future results or performance, which cannot be made. No person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.
Below is a short video that discusses one of our newest indications regarding the removal of cellulite.
Below is a short video that discusses one of our newest indications regarding the removal of subcutaneous fat.
Below is a short video that discusses our razor and blade business model.
- Technology has demonstrated ability in clinical trials to remove tattoos in up to 1/3 the time of current methods
- $4+ billion market potential by 2023; more than $6B potential by 2028 with possible 2nd indications in cellulite and fat removal acceleration
- $25 million invested over the last 5 years in product development
- Life-Science Experienced Management and Directors, including executives from CoolSculpting, a market-leading non-invasive fat reduction technology
- The company's technology is covered by a worldwide exclusive license to over 30 issued/pending patents
Soliton has developed new Rapid Acoustic Pulse (RAP) technology that uses proprietary acoustic shockwaves to potentially accelerate the removal of tattoos; this multibillion-dollar market opportunity could be expanded even further should the technology prove effective in the current human clinical trials targeting cellulite reduction and subcutaneous fat removal acceleration.
Soliton, Inc. has created a device used in conjunction with existing lasers to accelerate tattoo fading. A December 2012 Archives of Dermatology reported that an average tattoo takes about 10 or more office visits to remove using the current standard of care lasers (over a period of 1-2 years). Using our new RAP technology, our clinical trials demonstrate that same average tattoo may now be removed in as little as 2 to 3 visits. We are preparing for a limited market launch in the second half of 2019. Although tattoo removal is the lead indication addressing a global market that according to Market Research Future is expected to exceed $4 billion by 2023, we are currently conducting human proof of concept trials in two additional aesthetic indications: cellulite and subcutaneous fat.
Should our technology prove effective in one or both of these technologies, the market opportunity may be expanded even further.
In the US alone, approximately 70 million people have at least one tattoo and independent research conducted by iReseach has shown that 63% are considering some form of tattoo removal or modification. However, that same independent research indicates that most people may not act on that desire because of the time required to produce results using the current standard of care (laser removal). Soliton’s technology potentially enables tattoo removal in as little as 2-3 office visits, with a short additional procedure between laser passes. Fewer overall treatment sessions that the patient must heal from lowers the risk of scarring and ghosting ghosting. This new process potentially allows clinicians’ existing laser devices to outperform the most expensive new models of lasers.
We’ve spent over $25 million over the last 5 years on this exciting new technology. Our management team and board of directors are comprised of professionals with years of aesthetic and medical device experience, including senior management from the makers of CoolSculpting, market-leading fat reduction technology. Our RAP technology is exclusively licensed from one of the world’s largest research centers, MD Anderson, which is also a shareholder of our company.
Potentially Enormous Unmet Need
Based upon our own market research, we estimate that as many as 44 million Americans would consider a tattoo removal, yet according to FDA consumer health information, less than 100,000 tattoo removal procedures are performed annually. Using the current standard of care lasers, it may take 10 or more painful treatments over a 1 to 2-year period to completely remove a typical tattoo and it can easily cost over $3,000.
Tattoo removal is a very painful process due to the heat generated by lasers. It’s like volunteering to give yourself a 2nd degree burn! And, even with local anesthesia, you still may have the discomfort of a burn while the injury is healing up. The healing process may take 6 to 8 weeks after each treatment; however, the initial treatment only removes about 16% of a tattoo on average. This means you may need another 9 or more treatments for complete removal.
It’s not hard to understand why so many people who would like to remove a tattoo decide it’s just not worth all the hardship and we estimate as many as 50% or more patients may drop out before they complete the process. It’s not just a frustrating process, it’s also a terrible business model for clinicians who want happy patients, as well as profitable practices. So, it’s no wonder that the tattoo removal business today is only a fraction of what it could be.
The Problem with Tattoo Removal
With traditional laser treatment tattoo removal, efficacy is limited by particle shielding resulting from the natural clustering or agglomeration of pigment particles and the formation of laser-induced dermal vacuoles, both of which block access of laser energy to the particles being targeted. Importantly, the dermal vacuoles inhibit any additional passes of the laser from effectively reaching the remaining tattoo pigment agglomerations due to optical scattering (for more on this, please see our Investor Pitch Deck above). Because of this shielding effect, published literature suggests that as much as 85% of the laser's energy is blocked, which helps explain why a typical tattoo removal may take 10 or more painful treatments requiring as much as a year or more for most patients to achieve acceptable results.
The Soliton Solution
The RAP device uses repeated, rapidly rising acoustic waves, which biopsies of treatment sites have demonstrated both disrupt pigment laden cells and provide dermal clearing of both superficial and dermal vacuoles generated during the laser process. The clearing of these vacuoles allows for multiple laser treatments within one office visit and testing data suggests that remaining agglomerations of ink particles will be dispersed providing greater access for subsequent laser passes.
As seen in our own 2017 clinical trials, we achieved results with our RAP device in 2-3 visits that may normally require 10 or more office visits with a stand-alone laser. While there is no assurance that clinical trial results will be replicated, in the most recent clinical trial, Soliton RAP achieved approximately 75% or greater removal in all of eligible and participating patients in just 3 office visits, compared with approximately 16% removal using lasers alone. These fading results were determined by a panel of unaffiliated doctors who reviewed the patient results and graded fading.
Although animal testing demonstrates the ability of RAP to accelerate tattoo fading in multiple colors, our human clinical trials to date have been limited to black tattoos (the most common tattoo color). Our human clinical trials to date have shown efficacy in removing black tattoos and our animal testing has shown the same degree of efficacy for other colors. As we expand our human trials to additional colors in the near future, however, we cannot assure the same outcome.
The RAP device uses electrohydraulics to generate designed acoustic shockwaves at a rate of up to approximately 100 per second to effectively disperse ink particles and superficial and dermal vacuoles. The RAP device for commercial launch is composed of three parts: a console, a hand piece and a disposable cartridge. The console houses a pulse power system used to provide high voltage power to a pair of electrodes housed within the cartridge. Additionally, the console contains a fluid management system that circulates saline through the cartridge. The cartridge is snapped in and out of the hand piece for easy replacement and forms the basis for a “razor and blade” revenue model providing a potential recurring revenue opportunity for Soliton.
A Significant Opportunity
Per the Lowell Sun news, currently Americans spend $3.4 billion per year on tattoos, and as social acceptance of body art steadily increases spending on tattoos will likely continue to grow. With this growth in the number of people getting tattoos, it is our belief that there is a potentially a corresponding increase in demand for tattoo removal. Estimates of the size of the tattoo removal market vary widely. Market Research Future estimates that, globally, the market for tattoo removal is expected to grow at the rate of about 15.6% from 2017 to 2023 and that the global market for tattoo removal is expected to reach over $4 billion in revenue by 2023. Our own research and analysis suggests that regardless of its potential, the current tattoo removal market is significantly underdeveloped. At Soliton, we believe enabling tattoo removal in as few as 3 office visits (instead of 10 or more) could finally open up this market.
Tattoos May Just be the Beginning
We believe our RAP technology could potentially change tattoo removal forever, but we also believe RAP may be able to target and treat additional indications that could far exceed the size of the tattoo removal market. We recently discovered that our shockwave technology may have the potential to make today’s most popular fat reduction technologies more effective. This new discovery caught the attention of a large global aesthetics company and, since then, we have begun a collaboration proof of concept human trial with them using Soliton RAP to potentially accelerate their own fat reduction technology. This clinical trial is early stage and intended as a proof-of-concept and there is no assurance that the trial will have a successful outcome.
We believe that our shockwave technology creates mechanical stress at the cellular level that induces collagen growth. Increased collagen production strengthens and adds structure to the skin and therefore it has the potential to reverse or eliminate loose or sagging skin as well as the appearance of cellulite. So, in addition to the strategic collaboration mentioned above for fat removal, we have begun a human proof of concept clinical trial for the treatment of cellulite. Combined with the clinically demonstrated ability to accelerate tattoo removal, this means our RAP technology could potentially impact three different multibillion-dollar markets.
Dr. Chris Capelli had been intrigued by a question for over 10 years: why were lasers so ineffective at removing tattoos? As an MIT engineer, medical doctor and inventive scientist, he knew that you could aim the appropriate laser at tattoo ink in a beaker of water and make it disappear with just one treatment. So, why, once that tattoo ink was just 1 to 2 mm into the skin does it take 10 or more treatments spaced 6 to 8 weeks apart (a year or more of office visits!) to do the same thing with actual tattoos?
The answer was something that Chris believed the scientific community had not satisfactorily answered and would involve licensing his discovery from the world’s largest cancer research center where he ran the Office of Technology Commercialization that would eventually require $25 million and 5 years of R&D to master.
Chris believed he had uncovered something remarkable and he approached Wally Klemp, a proven builder of companies who had taken a company from his basement all the way to nearly $400mm in annualized revenue in fifteen years and became #1 on the INC 500 List of America’s Fastest Growing Companies (Drypers Corporation) in 1993. Wally attracted a $300 million life science venture fund to back the Soliton, Chris left the security of his position at the world's largest cancer research center to pursue Soliton full time and the two proceeded to build Soliton into what it is today.
Soliton RAP was a brand new technology, and it required the Company to recruit experts in acoustic engineering, plasma physics and immunology who have supported the US Space Program, the nuclear fusion industry and even cancer research. And, it would not have been possible without design partnerships with companies like Emphysys Technology Solutions, GE’s Unison and Sanmina Corporation, one of the world’s largest medical device manufacturers.
$50,000 or more – The first 20 investors that invest $50,000 or more will be invited to attend the Nasdaq bell ringing ceremony.
Nearly 3 out of every 10 American adults has at least one tattoo. That equates to approximately 70 million people in the U.S. with tattoos. A Harris Poll of 2,225 U.S. adults surveyed online in October 2015 reports that 23% of those with tattoos “regret” having them, suggesting that 16 million Americans have a motivation for tattoo removal. We conducted our own research through iResearch to dig more deeply and found that as many as 63% are “considering” having a removal, meaning closer to 44 million Americans have a potential desire for tattoo removal. Our research points to the fact that many people with tattoos don’t necessarily regret them, they simply consider modifying their existing tattoo or creating “blank canvas” for a new tattoo.
Per Market Research Future, the current tattoo market is reported to be over $1 billion in the US alone and is expected to grow at a rate of over approximately 15% per year, with the global tattoo removal market expected to exceed $4 billion by 2023. While the current tattoo removal market is reported to be large and rapidly growing, we believe a more important question is “why isn’t the market already much bigger?” We believe an article published in Dermatological Surgery (published in December 2012) supports what may be the primary reason: the current standard of care laser removal is simply too “prolonged, costly and impractical." This is also why we believe the improvement provided by Soliton’s RAP has the potential to become the new standard of care and to potentially increase the rate of growth in the tattoo removal market.
Most tattoo removals today are performed with short-pulse lasers, such as Q-Switched (nanosecond pulses) or Pico-Switched (picosecond pulses) that deliver tremendous amounts of energy to tattoo ink in an effort to break apart ink particles so the body’s natural immune response will carry away the debris. We believe the problem is that, for tattoo removal, these lasers are handicapped because of unwanted laser shielding (learn more about this in our Products & Services section above), so it simply may take too long and too many office visits to satisfy some customers.
Regardless, the tattoo removal laser market is highly competitive. Per the National Laser Institute, high-quality lasers range in price from $100,000 to over $250,000. Since many laser providers have substantially more resources than Soliton, we don’t view our Soliton RAP to be directly competitive, but rather critically enabling. We believe Soliton RAP represents a game-changing potential to this entire market landscape, in part because our technology has the potential to help all short-pulse lasers.
There is no guarantee that the FDA will grant 510(k) or de novo clearance or PMA approval of our future products and failure to obtain necessary clearances or approvals for our future products would adversely affect our ability to grow our business.
Our lead product candidate, as well as some of our future products will require FDA clearance of a 510(k) or de novo application or may require FDA approval of a PMA. The FDA may not approve or clear these products for the indications that are necessary or desirable for successful commercialization. Indeed, the FDA may refuse our requests for premarket clearance or premarket approval of new products, new intended uses or modifications to existing products. Failure to receive clearance or approval for our products would have an adverse effect on our ability to continue or expand our business.
If we fail to obtain and maintain regulatory approvals and clearances, or are unable to obtain, or experience significant delays in obtaining, FDA clearances or approvals for our RAP device, our future products or product enhancements, our ability to commercially distribute and market these products could suffer.
Our products are subject to rigorous regulation by the FDA and numerous other federal, state and foreign governmental authorities. The process of obtaining regulatory clearances or approvals to market a medical device can be costly and time consuming, and we may not be able to obtain these clearances or approvals on a timely basis, if at all. In particular, the FDA permits commercial distribution of a new medical device only after the device has received clearance under Section 510(k) of the Federal Food, Drug and Cosmetic Act, or is the subject of an approved premarket approval application, or PMA, unless the device is specifically exempt from those requirements. The FDA will clear marketing of a lower risk medical device through the 510(k) process if the manufacturer demonstrates that the new product is substantially equivalent to other 510(k)-cleared products or through a de novo process if substantial equivalence is not available. High risk devices deemed to pose the greatest risk, such as life-sustaining, life-supporting, or implantable devices, or devices not deemed substantially equivalent to a previously cleared device, require the approval of a PMA. The PMA process is more costly, lengthy and uncertain than the 510(k) or de novo clearance processes. A PMA application must be supported by extensive data, including, but not limited to, technical, preclinical, clinical trial, manufacturing and labeling data, to demonstrate to the FDA’s satisfaction the safety and efficacy of the device for its intended use. We believe our current product candidate will require clearance through the 510(k) or de novo process.
We expect to submit our request for premarket clearance to the FDA in the third quarter of 2018. Although we believe that the RAP device is not a Class III device and that substantially equivalent devices are currently legally marketed that are not subject to PMA, we cannot be certain that the FDA will agree. Furthermore, the FDA may determine that our request for 510(k) is inadequate and require additional testing or other information. If the FDA determines that our arguments of substantial equivalence are inadequate, we may be required to submit a de novo application, which will require substantial additional time for approval. If the FDA determines that the RAP device should be considered a Class III device, we may be required to pursue a PMA, which could consume several years of additional approval time and considerable unanticipated expense. If we are required to pursue a PMA, the proceeds from this Offering will likely not be sufficient to fund our company through the PMA process, and we will require additional financing, which may not be available.
We will require substantial additional funding, which may not be available to us on acceptable terms, or at all, and, if not so available, may require us to delay, limit, reduce or cease our operations.
We intend to use the proceeds from this Offering to advance our Generation 1 RAP device through the FDA clearance process and commercial development in preparation for an initial launch with a Generation 2 device to a limited group of dermatologists and then to a Generation 3 device for nationwide launch. The Generation 3 RAP device we expect to offer in our nationwide launch will have significant changes from the Generation 2 device that we intend offer in our initial market launch, which in turn will have significant changes from the Generation 1 device we intend to submit for FDA review and clearance. We expect the changes made to our device from Generation 1 to Generation 2 will necessitate the filing of an additional 510(k) before being launched. We cannot be certain that the changes we deem appropriate to make to the Generation 3 RAP device prior to the nationwide launch will not require another 510(k) filing. Commercializing and launching medical device products can be expensive. Even if we complete the maximum offering hereunder we will require substantial additional future capital in order to launch and market the device nationwide, build out a sales force and manufacture the device. We will continue to require substantial additional capital to continue commercialization activities.
We have a limited operating history and we expect a number of factors to cause our operating results to fluctuate on an annual basis, which may make it difficult to predict our future performance.
We formed our corporation in 2012 without a working RAP prototype. During the first 4 years of operations we have focused on research and development of a fully-integrated working prototype of the RAP device to remove tattoos. During the past 2 years we have focused our efforts on developing a commercial device that would receive FDA clearance to sell. We intend to apply for FDA clearance in the third quarter of 2018; after such application our efforts will be focused on refining our commercial device to improve ease of use features necessary for adoption in dermatological settings. Developing this commercial device for our limited market launch is anticipated to cost $2.6 million and take at least nine months of additional work. Further refinement to the device in advance of our national commercial launch is anticipated to cost an additional $2.5 million and take another eleven months of additional work. Additionally, a high percentage of our expenses will be associated with pre-launch marketing activities as well as fixed costs. We have not yet sold any products, and we may never achieve commercial success with RAP technology. We have limited historical financial data upon which we may base our projected revenue and operating expenses. Our limited operating history makes it difficult for potential investors to evaluate our technology or prospective operations and business prospects. As a pre-commercialization stage company, we are subject to all the risks inherent in business development, financing, unexpected expenditures, and complications and delays that often occur in a new business. Investors should evaluate an investment in us in light of the uncertainties encountered by developing companies in a competitive environment. There can be no assurance that our efforts will be successful or that we will ultimately be able to attain profitability.
RAP utilizes potentially dangerous energy levels and we could face liability for claims related to the RAP device that would be costly and would damage our reputation.
The acoustic shockwaves generated by our RAP device are the result of producing and directing electrical energy within the device's hand piece approaching 3,000 volts at 3,000 amps of current. Although the RAP device has been designed in accordance, and has been independently tested and found to comply, with the electrical and other safety requirements for comparable medical devices, we cannot be certain that such design and testing measures have identified every possible mode of failure. An unanticipated failure mode or misuse of the RAP device could potentially expose the operator or patient to hazardous and potentially lethal electrical shock and we could face liability for claims of injury or death and our ability to commercialize the RAP device could be materially harmed. In addition, such claims would damage our reputation and hinder our ability to commercialize the RAP device.
The use of lasers to remove tattoos has inherent dangers.
Recognized and published (see "Complications of Tattoos and Tattoo Removal: Stop and Think Before you ink;" Khunger, Molpariya, & Khunger, 2015) adverse events of Q-switched laser tattoo removal include: pain; blistering; crusting; pinpoint hemorrhage; urticarial reaction; hypopigmentation; hyperpigmentation; leukotrichia; local-papule; plaques; darkening of tattoos; photoallergic reactions; systemic reactions; residual pigmentation; ghost images; scarring; and textural changes. These adverse events may be increased when multiple laser passes are used to remove a tattoo in a single session.
Modifications to our products may require new regulatory clearances or approvals or may require us to recall or cease marketing our products until clearances or approvals are obtained.
Modifications to our products may require new regulatory approvals or clearances, including 510(k) clearances or premarket approvals, or require us to recall or cease marketing the modified devices until these clearances or approvals are obtained. The FDA requires device manufacturers to initially make and document a determination of whether or not a modification requires a new approval, supplement or clearance. A manufacturer may determine that a modification could not significantly affect safety or efficacy and does not represent a major change in its intended use, so that no new 510(k) clearance is necessary. However, the FDA can review a manufacturer's decision and may disagree. The FDA may also on its own initiative determine that a new clearance or approval is required. Once we have a commercialized product, we may make modifications in the future that we believe do not or will not require additional clearances or approvals. If the FDA disagrees and requires new clearances or approvals for these modifications, we may be required to recall and to stop marketing our products as modified, which could require us to redesign our products and harm our operating results. In these circumstances, we may be subject to significant enforcement actions.
Where we determine that modifications to our products require a new 510(k) clearance or premarket approval application, we may not be able to obtain those additional clearances or approvals for the modifications or additional indications in a timely manner, or at all. Obtaining clearances and approvals can be a time-consuming process, and delays in obtaining required future clearances or approvals would adversely affect our ability to introduce new or enhanced products in a timely manner, which in turn would harm our future growth.
Our Generation 1 device is not ready for commercial launch, and even if our device is cleared by the FDA, we will need to modify this device prior to commercial launch, which modifications may be unsuccessful or costly.
We conducted our clinical trials with and will apply for premarket clearance based on a device that is not optimized for commercial launch. Modifications we expect to make to this Generation 1 device include improvements in user interface, improvements to extend the life and ease of replacement of the consumable treatment head cartridges and general aesthetics and will be made via a Generation 2 and Generation 3 device intended for initial market launch and nationwide market launch, respectively. We expect the changes made to our device from Generation 1 to Generation 2 will necessitate the filing of an additional 510(k) before being launched. We cannot be certain that the changes we deem appropriate to make to the Generation 3 RAP device prior to the nationwide launch will not require another 510(k) filing. While we believe these changes will not affect the therapy delivered by our RAP device, we may be unsuccessful or experience delays in making these changes and/or the FDA may require additional 510(k) submissions to properly document these changes.
Because we have not yet launched the RAP device, we have been using our available capital resources for development of the commercial units and have not yet generated any revenues; therefore, we may not be able to continue as a going concern.
We are a pre-approval stage medical device company, and do not expect to generate any revenues until our commercial RAP units are cleared by the FDA and sold. Our ability to continue as a going concern is dependent upon our generating cash flow from sales that are sufficient to fund operations or finding adequate financing to support our operations. To date, we have had no revenues and have relied on equity-based financing from the sale of securities in private placements and the issuance of convertible notes. Our sales plan may not be successful in achieving a sustainable business and revenues. Although we are engaged in the Offering described in this Offering Circular, we have no arrangements in place for all the anticipated required financing to be able to fully implement our business plan. If we are unable to continue as planned currently, we may have to curtail some or all of our business plan and operations. In such case, investors may lose some or all of their investment.
Our clinical experience with the RAP device is limited to black tattoos with one type of laser, and future trials may not result in similar results.
To date, our clinical trial data is limited to the use of the RAP device in conjunction with Q-Switched lasers treating primarily black tattoos. We do not have clinical data indicating the efficacy of the RAP device in conjunction with shorter pulse “Pico-Switched” lasers or in treating tattoo ink colors other than black. Although, based on animal and theoretical models, we believe RAP has the potential to be similarly effective in such instances, we cannot be certain. If it is not as effective in such instances, our ability to successfully commercialize the RAP device could be materially harmed.
Clinical trials may be necessary to support future product submissions to FDA. These clinical trials will be expensive and will require the enrollment of large numbers of patients, and suitable patients may be difficult to identify and recruit. Delays or failures in our clinical trials will prevent us from commercializing any modified or new products and will adversely affect our business, operating results and prospects.
Initiating and completing clinical trials necessary to support any future PMA applications, and additional safety and efficacy data beyond that typically required for a 510(k) clearance, for our possible future product candidates, will be time consuming and expensive and the outcome uncertain. Moreover, the results of early clinical trials are not necessarily predictive of future results, and any product we advance into clinical trials may not have favorable results in later clinical trials.
Conducting successful clinical studies will require the enrollment of large numbers of patients, and suitable patients may be difficult to identify and recruit. Patient enrollment in clinical trials and completion of patient participation and follow-up depends on many factors, including the size of the patient population, the nature of the trial protocol, the attractiveness of, or the discomforts and risks associated with, the treatments received by enrolled subjects, the availability of appropriate clinical trial investigators, support staff, and proximity of patients to clinical sites and able to comply with the eligibility and exclusion criteria for participation in the clinical trial and patient compliance. For example, patients may be discouraged from enrolling in our clinical trials if the trial protocol requires them to undergo extensive post-treatment procedures or follow-up to assess the safety and effectiveness of our products or if they determine that the treatments received under the trial protocols are not attractive or involve unacceptable risks or discomforts.
Development of sufficient and appropriate clinical protocols to demonstrate safety and efficacy are required and we may not adequately develop such protocols to support clearance and approval. Further, the FDA may require us to submit data on a greater number of patients than we originally anticipated and/or for a longer follow-up period or change the data collection requirements or data analysis applicable to our clinical trials. Delays in patient enrollment or failure of patients to continue to participate in a clinical trial may cause an increase in costs and delays in the approval and attempted commercialization of our products or result in the failure of the clinical trial. In addition, despite considerable time and expense invested in our clinical trials, FDA may not consider our data adequate to demonstrate safety and efficacy. Such increased costs and delays or failures could adversely affect our business, operating results and prospects.
If the third parties on which we rely to conduct our clinical trials and to assist us with pre-clinical development do not perform as contractually required or expected, we may not be able to obtain regulatory clearance or approval for or commercialize our products.
We do not have the ability to independently conduct our pre-clinical and clinical trials for our product candidates and future products and we must rely on third parties, such as contract research organizations, medical institutions, clinical investigators and contract laboratories to conduct such trials. If these third parties do not successfully carry out their contractual duties or regulatory obligations or meet expected deadlines, if these third parties need to be replaced, or if the quality or accuracy of the data they obtain is compromised due to the failure to adhere to our clinical protocols or regulatory requirements or for other reasons, our pre-clinical development activities or clinical trials may be extended, delayed, suspended or terminated, and we may not be able to obtain regulatory approval for, or successfully commercialize, our products on a timely basis, if at all, and our business, operating results and prospects may be adversely affected. Furthermore, our third-party clinical trial investigators may be delayed in conducting our clinical trials for reasons outside of their control.
The results of our clinical trials may not support our product candidate claims or may result in the discovery of adverse side effects.
Even though our first clinical trials are completed, we cannot be certain that their results will support our product candidate claims or that the FDA will agree with our conclusions regarding them. Success in pre-clinical studies and early clinical trials does not ensure that later clinical trials will be successful, and we cannot be sure that the later trials will replicate the results of prior trials and pre-clinical studies. The clinical trial process may fail to demonstrate that our product candidates are safe and effective for the proposed indicated uses, which could cause us to abandon a product candidate and may delay development of others. Any delay or termination of our clinical trials will delay the filing of our product submissions and, ultimately, our ability to commercialize our product candidates and generate revenues. It is also possible that patients enrolled in clinical trials will experience adverse side effects that are not currently part of the product candidate’s profile.
Even if our products are cleared or approved by the FDA, if we or our suppliers fail to comply with ongoing FDA requirements, or if we experience unanticipated problems with our products, these products could be subject to restrictions or withdrawal from the market.
Any product for which we obtain clearance or approval, and the manufacturing processes, reporting requirements, post-approval clinical data and promotional activities for such product, will be subject to continued regulatory review, oversight and periodic inspections by the FDA and other domestic and foreign regulatory bodies. In particular, we and our suppliers are required to comply with FDA’s Quality System Regulations, or QSR, which covers the methods and documentation of the design, testing, production, control, quality assurance, labeling, packaging, storage and shipping of any product for which we obtain clearance or approval. FDA enforces the QSR and other regulations through periodic inspections. The failure by us or one of our suppliers to comply with applicable statutes and regulations administered by the FDA, or the failure to timely and adequately respond to any adverse inspectional observations or product safety issues, could result in, among other things, any of the following enforcement actions:
• untitled letters, warning letters, fines, injunctions, consent decrees and civil penalties;
• unanticipated expenditures to address or defend such actions
• customer notifications for repair, replacement, refunds;
• recall, detention or seizure of our products;
• operating restrictions or partial suspension or total shutdown of production;
• refusing or delaying our requests for premarket clearance or premarket approval of new products or modified products;
• operating restrictions;
• withdrawing premarket clearances on PMA approvals that have already been granted;
• refusal to grant export approval for our products; or
• criminal prosecution.
If any of these actions were to occur, it would harm our reputation and cause our product sales and profitability to suffer and may prevent us from generating revenue. Furthermore, our key component suppliers may not currently be or may not continue to be in compliance with all applicable regulatory requirements which could result in our failure to produce our products on a timely basis and in the required quantities, if at all.
Even if regulatory clearance or approval of a product is granted, such clearance or approval may be subject to limitations on the intended uses for which the product may be marketed and reduce our potential to successfully commercialize the product and generate revenue from the product. If the FDA determines that our promotional materials, labeling, training or other marketing or educational activities constitute promotion of an unapproved use, it could request that we cease or modify our training or promotional materials or subject us to regulatory enforcement actions. It is also possible that other federal, state or foreign enforcement authorities might take action if they consider our training or other promotional materials to constitute promotion of an unapproved use, which could result in significant fines or penalties under other statutory authorities, such as laws prohibiting false claims for reimbursement.
In addition, we may be required to conduct costly post-market testing and surveillance to monitor the safety or effectiveness of our products, and we must comply with medical device reporting requirements, including the reporting of adverse events and malfunctions related to our products. Later discovery of previously unknown problems with our products, including unanticipated adverse events or adverse events of unanticipated severity or frequency, manufacturing problems, or failure to comply with regulatory requirements such as QSR, may result in changes to labeling, restrictions on such products or manufacturing processes, withdrawal of the products from the market, voluntary or mandatory recalls, a requirement to repair, replace or refund the cost of any medical device we manufacture or distribute, fines, suspension of regulatory approvals, product seizures, injunctions or the imposition of civil or criminal penalties which would adversely affect our business, operating results and prospects.
We utilize a single manufacturer, Sanmina Corporation, for the manufacture of the RAP device and expect to continue to do so for commercial devices. Risks associated with the manufacturing of our products could reduce our gross margins and negatively affect our operating results.
We do not have any manufacturing facilities or direct manufacturing personnel. We currently rely, and expect to continue to rely, on Sanmina Corporation for the manufacture of the RAP device for commercial manufacture. Although Sanmina is a large contract manufacturer of medical devices, we are subject to numerous risks relating to our reliance on their manufacturing capabilities. If they encounter problems in manufacturing the RAP device then our business could be significantly impacted. These problems include:
• inability to secure product components in a timely manner, in sufficient quantities or on commercially reasonable terms;
• failure to increase production of the RAP device to meet demand;
• inability to modify production lines to enable us to efficiently produce future products or implement changes in current products in response to regulatory requirements;
• difficulty identifying and qualifying alternative manufacturers in a timely manner;
• inability to establish agreements with future third-party manufacturers or to do so on acceptable terms; or
• potential damage to or destruction of our manufacturers' equipment or facilities.
As demand for our products increases, our manufacturer will need to invest additional resources to purchase components, hire and train employees, and enhance their manufacturing processes. If they fail to increase production capacity efficiently, our sales may not increase in line with our expectations and our operating margins could fluctuate or decline. The RAP device has many parts that are specialized high-voltage components and many of these components are only produced by one supplier and the loss of any of these suppliers, or their inability to provide Sanmina with an adequate supply of materials, could harm our business. For our business strategy to be successful, Sanmina must be able to provide us with components in sufficient quantities, in compliance with regulatory requirements and quality control standards, in accordance with agreed upon specifications, at acceptable costs and on a timely basis. Future increases in sales of the RAP device could strain the ability of Sanmina to deliver an increasingly large supply of components and RAP systems in a manner that meets these various requirements. We do not have a long-term agreement with Sanmina and contract with Sanmina on a project-to-project basis utilizing a separate purchase order for each project. As such, there is no assurance that Sanmina will continue to provide us with manufacturing services in the future.
Our products may in the future be subject to product recalls that could harm our reputation, business and financial results.
The FDA and similar foreign governmental authorities have the authority to require the recall of commercialized products in the event of material deficiencies or defects in design or manufacture. In the case of the FDA, the authority to require a recall must be based on an FDA finding that there is a reasonable probability that the device would cause serious injury or death. Manufacturers may, under their own initiative, recall a product if any material deficiency in a device is found. A government-mandated or voluntary recall by us or one of our distributors could occur as a result of component failures, manufacturing errors, design or labeling defects or other deficiencies and issues. Recalls of any of our products would divert managerial and financial resources and have an adverse effect on our financial condition and results of operations. The FDA requires that certain classifications of recalls be reported to FDA within 10 working days after the recall is initiated. Companies are required to maintain certain records of recalls, even if they are not reportable to the FDA. We may initiate voluntary recalls involving our products in the future that we determine do not require notification of the FDA. If the FDA disagrees with our determinations, they could require us to report those actions as recalls. A future recall announcement could harm our reputation with customers and negatively affect our sales. In addition, the FDA could take enforcement action for failing to report the recalls when they were conducted.
If our products cause or contribute to a death or a serious injury, or malfunction in certain ways, we will be subject to medical device reporting regulations, which can result in voluntary corrective actions or agency enforcement actions.
Under the FDA medical device reporting regulations, medical device manufacturers are required to report to the FDA information that a device has or may have caused or contributed to a death or serious injury or has malfunctioned in a way that would likely cause or contribute to death or serious injury if the malfunction of the device or one of our similar devices were to recur. If we fail to report these events to the FDA within the required timeframes, or at all, FDA could take enforcement action against us. Any such adverse event involving our products also could result in future voluntary corrective actions, such as recalls or customer notifications, or agency action, such as inspection or enforcement action. Any corrective action, whether voluntary or involuntary, as well as defending ourselves in a lawsuit, will require the dedication of our time and capital, distract management from operating our business, and may harm our reputation and financial results.
We have limited experience in assembling and testing our products and may encounter problems or delays in the assembly of our products or fail to meet certain regulatory requirements which could result in an adverse effect on our business and financial results.
We have limited experience in assembling and testing our RAP device, and no experience in doing so on a commercial scale. To become profitable, we must assemble and test the RAP device in commercial quantities in compliance with regulatory requirements and at an acceptable cost. Increasing our capacity to assemble and test our products on a commercial scale will require us to improve internal efficiencies. We may encounter a number of difficulties in increasing our assembly and testing capacity, including:
• managing production yields;
• maintaining quality control and assurance;
• providing component and service availability;
• maintaining adequate control policies and procedures;
• hiring and retaining qualified personnel; and
• complying with state, federal and foreign regulations.
If we are unable to satisfy commercial demand for our RAP device due to our inability to assemble and test our RAP device, our ability to generate revenue would be impaired, market acceptance of our products could be adversely affected and customers may instead purchase or use, our competitors’ products.
Certain parts used in the manufacturing of our equipment may experience shortages in global supply which could impact our ability to manufacture our device for customers or maintain research and development timelines.
There are a number of component parts used in the manufacture of our device that are used by many manufacturers in a variety of products. We will compete with other manufacturers for the supply of these components. Additionally, certain parts that are currently in our design may be discontinued by our supplier requiring us to find alternative parts. This issue may require us to change the design of our device or purchase significant inventories of these parts in order to protect against manufacturing delays. We may not be able to procure alternative components or adequate raw material inventories which would result in an inability to produce our device.
U.S. legislative or FDA regulatory reforms may make it more difficult and costly for us to obtain regulatory approval of our product candidates and to manufacture, market and distribute our products after approval is obtained.
From time to time, legislation is drafted and introduced in Congress that could significantly change the statutory provisions governing the regulatory approval, manufacture and marketing of regulated products or the reimbursement thereof. In addition, FDA regulations and guidance are often revised or reinterpreted by the FDA in ways that may significantly affect our business and our products. Any new regulations or revisions or reinterpretations of existing regulations may impose additional costs or lengthen review times of future products. In addition, FDA regulations and guidance are often revised or reinterpreted by the agency in ways that may significantly affect our business and our products. It is impossible to predict whether legislative changes will be enacted or FDA regulations, guidance or interpretations changed, and what the impact of such changes, if any, may be.
For example, the policies of the new administration and their impact on the regulation of our products in the United States remain uncertain. The outcome of the 2016 election and the forthcoming 2018 mid-term elections could result in significant legislative and regulatory reforms impacting the FDA’s regulation of our products. Any change in the laws or regulations that govern the clearance and approval processes relating to our current and future products could make it more difficult and costly to obtain clearance or approval for new products, or to produce, market and distribute existing products. Significant delays in receiving clearance or approval, or the failure to receive clearance or approval for our new products would have an adverse effect on our ability to expand our business.
We cannot assure you that we will generate revenue or become profitable in the future.
Our products may never be cleared by the FDA or become commercially viable or accepted for use. We have incurred significant losses since our inception and expect to experience operating losses and negative cash flow for the foreseeable future. We expect to expend significant resources on hiring of personnel, continued scientific and product research and development, product testing and preclinical and clinical investigation, intellectual property development and prosecution, marketing and promotion, capital expenditures, working capital, general and administrative expenses, and fees and expenses associated with our capital raising efforts. We expect to incur costs and expenses related to consulting costs, hiring of scientists, engineers, science and other operational personnel, and the continued development of relationships with strategic partners.
We anticipate needing additional financing over the longer term to execute our business plan and fund operations, which additional financing may not be available on reasonable terms or at all.
As of March 31, 2018, we had total assets of $446,000, including cash of $11,000. We have an accumulated deficit as of March 31, 2018, of $33.2 million. The proceeds from this Offering are expected to provide capital for the next 16 months, if we complete the minimum offering, or 13 months, if we complete the maximum offering, that will fund a limited market launch of the RAP device and associated sales and marketing activities. However, we believe that we will require additional capital to mount a major sales and marketing effort and execute our business plan. We cannot give any assurance that we will be able to obtain all the necessary funding that we may need. We may pursue additional funding through various financing sources, including additional public offerings, the issuance of debt securities, fees associated with licensing some or all of our technology, joint ventures with capital partners and project type financing. There can be no assurance that funds will be available on commercially reasonable terms, if at all. If financing is not available on satisfactory terms, we may be unable to further pursue our business plan and we may be unable to continue operations, in which case you may lose some or all of your investment. Alternatively, we may consider changes in our business plan that might enable us to achieve aspects of our business objectives and lead to some commercial success with a smaller amount of capital, but we cannot assure that changes in our business plan will result in revenues or maintain any value in your investment.
We do not have any sales, marketing, and distribution capabilities or arrangements, and will need to create these as we move towards commercialization of our products.
We do not yet have sales, marketing, and distribution capabilities or arrangements. To be able to commercialize our potential products, we will need to develop all of the foregoing. We have limited experience in establishing these capabilities, and therefore, we may be unsuccessful in achieving commercialization and earning revenues. We believe that setting up the commercialization parts of the company will take substantial capital and commitment of time and effort. We may seek development and marketing partners for RAP technology and license technology that is complementary, but not directly associated with RAP technology to others in order to avoid our having to provide the marketing, manufacturing and distribution capabilities within our organization. There can be no assurance that we will find any development and marketing partners or companies that are interested in licensing our technology. If we are unable to establish and maintain adequate sales, marketing, manufacturing and distribution capabilities, independently or with others, we will not be able to generate product revenue, and may not become profitable.
Even if the RAP device is cleared by the FDA, achieving and maintaining market acceptance of the RAP device for tattoo removal could be negatively impacted by many factors, which may prevent us from successfully commercializing the RAP device.
Even if the RAP device is cleared by the FDA, we may not be successful achieving market acceptance of the RAP device for tattoo removal. Many factors could negatively impact our ability to achieve or maintain market acceptance, including:
• the failure of the RAP device to achieve wide acceptance among people who regret having one or more tattoos or have a tattoo they would like to modify (prospective clients), dermatologists, and key opinion leaders in the tattoo removal community;
• possible reluctance by dermatologists to change their current practices because of perceived liability risks arising from the use of new products;
• perceived risks associated with the use of the RAP device or similar products or technologies generally;
• the introduction of competitive products and the rate of acceptance of those products as compared to the RAP device;
• adverse results of future clinical trials relating to the RAP device or similar competitive products; and
• adverse publicity or other adverse events including any product liability lawsuits.
If we are not successful in convincing prospective clients and dermatologists of the benefits of the RAP device then our sales potential, strategic objectives and profitability could be negatively impacted, which would adversely affect our business, financial condition and operating results.
If important assumptions we have made about what prospective clients want and are willing to purchase are inaccurate, our business and operating results may be adversely affected.
Our business strategy was developed based on a number of important assumptions about prospective clients, including their desire to have one or more tattoos removed, their reasons for not taking action to remove those tattoos to date and their willingness to pay for an improved method of removing their tattoos. These assumptions were based on published secondary research, as well as primary research commissioned by us. This research may be flawed and/or any of the resulting assumptions may prove to be inaccurate. If so, our efforts to commercialize the RAP device, even if cleared by the FDA, may fall short of expectations and you could lose some or all of your investment.
The tattoo removal process is an elective procedure that is not reimbursable and to the extent there is a general reduction in discretionary spending that could result in a reduction in the demand for tattoo removal services.
The decision to undergo a procedure from our systems will be driven by consumer demand. Procedures performed using our systems will be elective procedures, the cost of which must be borne by the patient and are not reimbursable through government or private health insurance. In times of economic uncertainty or recession, individuals often reduce the amount of money that they spend on discretionary items, including aesthetic procedures. The general economic difficulties being experienced and the lack of availability of consumer credit for some of our customers' patients could adversely affect the markets in which we will operate.
Potential complications from the RAP device or future versions of the RAP device may not be revealed by our clinical experience or other testing. Undetected errors or defects in the RAP device or future versions of the RAP device could harm our reputation, decrease the market acceptance of the RAP device or expose us to product liability claims.
Our RAP device is a highly complex device with many potential areas for undetected errors, defects or other complications. We cannot be certain that our clinical and other safety and efficacy testing has revealed all such complications. If such complications emerge in the future, we may not have sufficient resources to address them and our commercialization plans could be materially adversely affected.
We have licensed the intellectual property rights for our technology from one of the largest cancer research centers in the U.S., and if our license agreement with then is terminated, our business will be materially harmed.
We obtained a royalty-bearing, worldwide, exclusive license to intellectual property rights, including patent rights related to RAP technology from the said cancer center. If we become insolvent, cannot meet commercial diligence requirements contained in the licensing agreement, or fail to make annual maintenance fee payments without curing the default, then the technology will revert back to the the cancer center. Furthermore, if we are successful in commercializing and selling the RAP device, we will owe milestone and royalty payments pursuant to this license. If we fail to make those payments in accordance with the license, our license could be terminated.
We may be subject to claims that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
As is common in the medical device industry, we employ individuals who were previously employed at other medical device companies, including our competitors or potential competitors. We may be subject to claims that these employees, or we, have used or disclosed trade secrets or other proprietary information of their former employers. Litigation may be necessary to defend against these claims. Even if we are successful in defending against these claims, litigation could result in substantial costs and be a distraction to management.
The concentration of our common stock ownership by a single shareholder will limit your ability to influence corporate matters.
Upon completion of this Offering, and assuming the conversion of all our outstanding unsecured promissory notes with interest accrued through June 30, 2018 and convertible preferred stock with accrued dividends contemporaneously with the closing of this Offering, a single shareholder, Remeditex Ventures, LLC (Remeditex) will beneficially own and will be able to vote in the aggregate 60.3% of our outstanding common stock if the minimum number of shares are sold and 54.4% of our outstanding common stock if the maximum number of shares offered are sold. As such, Remeditex, will continue to have the ability to exert significant influence over all corporate activities, including the election or removal of directors and the outcome of tender offers, mergers, proxy contests or other purchases of common stock that could give our stockholders the opportunity to realize a premium over the then-prevailing market price for their shares of common stock. This concentrated control will limit your ability to influence corporate matters and, as a result, we may take actions that purchasers in this Offering do not view as beneficial. In addition, such concentrated control could discourage others from initiating changes of control. In such cases, the perception of our prospects in the market may be adversely affected and the market price of our common stock may decline.
General Risks and Disclosures
Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.
Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.
The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.
Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.
You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events through continuing disclosure that you can use to evaluate the status of your investment.
Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company's employees, including its management. You should carefully review any disclosure regarding the company's use of proceeds.
Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.
Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company's board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.
Wally Klemp is an experienced and successful entrepreneur with 30 years of company-building history. He has founded multiple Houston-based biotech companies collaborating with the largest cancer research center, including Moleculin Biotech, Inc, which he took public in 2016. He has focused the last 15 years on developing and marketing therapeutic devices and drugs from concept through FDA approval. Prior to that,...Expand Bio
Wally Klemp is an experienced and successful entrepreneur with 30 years of company-building history. He has founded multiple Houston-based biotech companies collaborating with the largest cancer research center, including Moleculin Biotech, Inc, which he took public in 2016. He has focused the last 15 years on developing and marketing therapeutic devices and drugs from concept through FDA approval. Prior to that, Mr. Klemp was founder, CEO and Chairman of Drypers Corporation, a publicly traded multinational consumer products company, growing Drypers from start-up to nearly $500 million in annualized sales as of March 31, 2000 and #1 on the 1993 INC 500 List of America’s Fastest Growing Companies, and earning the American Marketing Association’s Gold Edison Award in 1997. He developed growth strategies, orchestrated mergers and acquisitions, and had direct responsibility for numerous financings, including two Nasdaq IPOs.Collapse Bio
Dr. Capelli is the lead inventor of Soliton’s RAP technology. Chris led the Office of Technology Based Ventures at The University of Texas M.D. Anderson Cancer Center where he formed the foundational concepts that have become RAP and eventually left M.D. Anderson to co-found Soliton. Prior to M.D. Anderson, Dr. Capelli served the director of the Office of Technology Management at the University of Pittsburgh. Both...Expand Bio
Dr. Capelli is the lead inventor of Soliton’s RAP technology. Chris led the Office of Technology Based Ventures at The University of Texas M.D. Anderson Cancer Center where he formed the foundational concepts that have become RAP and eventually left M.D. Anderson to co-found Soliton. Prior to M.D. Anderson, Dr. Capelli served the director of the Office of Technology Management at the University of Pittsburgh. Both an MIT engineer and a medical doctor, Chris is the holder of numerous patents that helped several companies launch. He was the founder of BioInterface Technologies, Inc., which developed new a silver-based antimicrobial technology for use in wound care, and he was co-inventor of the core technology that eventually became Dexcom, an $12.5 billion medical device company August 2018.Collapse Bio
Prior to joining Soliton, Ms. Bisson worked as a financial and business development consultant advising a number of life science companies. Lori served as the CFO of Zeno Corporation, a medical device company focused on new technology in the aesthetics area, and previously held various positions with Drypers Corporation, a publicly traded multinational consumer products company, where she ultimately held the title...Expand Bio
Prior to joining Soliton, Ms. Bisson worked as a financial and business development consultant advising a number of life science companies. Lori served as the CFO of Zeno Corporation, a medical device company focused on new technology in the aesthetics area, and previously held various positions with Drypers Corporation, a publicly traded multinational consumer products company, where she ultimately held the title of Vice President of Integrated Solutions and oversaw accounting, information technology, and logistics for the US operation. Lori began her career at Arthur Andersen, LLP as an auditor focused on consumer products companies.Collapse Bio
In addition to being a lawyer and having served as a Washington State Senator, Mr. Tanner has served as Chief Operating Officer of Zeno Corporation, a company that developed and marketed dermatology devices and drugs from concept through FDA approval and market launch. Prior to that, Joe has held senior leadership positions in the contract electronics manufacturing industry as well as the consumer products...Expand Bio
In addition to being a lawyer and having served as a Washington State Senator, Mr. Tanner has served as Chief Operating Officer of Zeno Corporation, a company that developed and marketed dermatology devices and drugs from concept through FDA approval and market launch. Prior to that, Joe has held senior leadership positions in the contract electronics manufacturing industry as well as the consumer products industry, with responsibilities for both domestic and international operations.Collapse Bio
VP & GM for CoolSculpting at Allergan since ZELTIQ was acquired in April 2017
VP & GM for CoolSculpting at Allergan since ZELTIQ was acquired in April 2017Collapse Bio
CEO of Elira Therapeutics; past CoolSculpting Head of Mktg
CEO of Elira Therapeutics; past CoolSculpting Head of MktgCollapse Bio
Founder of SkinCare Physicians, Boston, MA
Founder of SkinCare Physicians, Boston, MACollapse Bio
Founder of SkinCare Physicians, Boston
Founder of SkinCare Physicians, BostonCollapse Bio
Main Line Center for Laser Surgery, PA
Main Line Center for Laser Surgery, PACollapse Bio
Chair of the UOC Department of Dermatology
Chair of the UOC Department of DermatologyCollapse Bio
Founder of Capital Laser & Skin Care, DC
Founder of Capital Laser & Skin Care, DCCollapse Bio
Dir. of Laser & Skin Surgery Center NY
Dir. of Laser & Skin Surgery Center NYCollapse Bio
Mass General Hosp. Dermatology
Mass General Hosp. DermatologyCollapse Bio
CFO of Moleculin Biotech; Past Mgr Deloitte
CFO of Moleculin Biotech; Past Mgr DeloitteCollapse Bio
Laser and Cosmetic Dermatology, Scripps Clinic, San Diego
Laser and Cosmetic Dermatology, Scripps Clinic, San DiegoCollapse Bio