Soliton Announces Completion of New Replaceable Cartridge to Target Cellulite Reduction
Replaceable Treatment Cartridge Paves the way for Future Recurring Revenue Stream
HOUSTON, May 1, 2019 /PRNewswire/ -- Soliton, Inc., (Nasdaq: SOLY) ("Soliton" or the "Company"), a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center ("MD Anderson"), today announced that its manufacturing partner has delivered the first single-use cartridges capable of delivering the therapy targeting cellulite reduction.
The cartridge attaches to the treatment head and is designed to be used for a single patient cellulite treatment and then replaced. The cartridge is capable of delivering higher-powered acoustic pulses at greater depths than the Company's tattoo removal cartridge, and both cartridges can be used with the same higher-powered pulse generating console, creating a true platform technology with a range of potential uses in the practitioner's office. Neither the cartridge nor the device has been cleared by the FDA.
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"We are very enthusiastic about the flexibility that our interchangeable treatment heads will bring to the practitioners that partner with us for the treatment of cellulite reduction and tattoo removal," commented Dr. Chris Capelli, President, CEO and co-founder of Soliton. "Our therapy will be delivered through single-use cartridges that are designed to be used for one patient treatment. Once our device is cleared by the FDA, we expect to deliver a recurring revenue stream and drive top-line growth for the Company."
Dr. Capelli added: "We believe that this recurring revenue model will be readily adopted by the marketplace as other aesthetic technologies have led the way with pay-per-use models. We believe practitioners will be enthusiastic about our technology that, upon FDA clearance, could be used across multiple indications."
About Soliton, Inc.
Soliton, Inc. is a medical device company with a novel and proprietary platform technology licensed from MD Anderson. The Company's first planned commercial product is designed to use rapid pulses of designed acoustic shockwaves in conjunction with existing lasers to accelerate the removal of unwanted tattoos (RAP device). In addition, higher energy versions of acoustic pulse devices are in early stages of development for potential stand-alone treatment of cellulite and other indications. Both products are investigational and are not available for sale in the United States.
For more information about the Company, please visit: http://www.soliton.com
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the ability of the Soliton RAP technology, including the cellulite treatment cartridge, to prove safe and effective at reducing cellulite, for the Company's devices to achieve FDA clearance for the tattoo and cellulite indications, and whether the Company's intended revenue model will be accepted by the market. These statements relate to future events, future expectations, plans and prospects. Although Soliton believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Soliton has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under in our SEC filings, including under the heading "Item 1A. Risk Factors" in the Form 10-K for year ended December 31, 2018 we filed with the SEC and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. Soliton undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
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SOURCE Soliton, Inc.
Released May 1, 2019