Soliton Appoints Sean J. Shapiro as Vice President of Sales

Rhea-AI Summary

Soliton, Inc. has appointed Sean J. Shapiro as the new Vice President of Sales, effective January 1, 2021. This strategic move comes as the company anticipates FDA clearance for its RAP device aimed at cellulite reduction within Q1 2021. Shapiro brings extensive experience from his previous roles, including generating $11 million in revenue at Viveve and leading the launch of the $15 million Cellfina device at Merz. Soliton aims to leverage Shapiro's expertise to successfully commercialize its innovative medical devices.

Positive

• Appointment of a seasoned sales executive, Sean J. Shapiro, expected to enhance commercial strategy.
• Anticipation of FDA clearance for the RAP device to treat cellulite may open new revenue streams.

Negative

• Dependence on regulatory approval for commercialization may present risks to growth timelines.

HOUSTON, Dec. 30, 2020 /PRNewswire/ -- Soliton, Inc., (Nasdaq: SOLY) ("Soliton" or the "Company"), a medical device company with a novel and proprietary platform technology, today announced the appointment of Sean J. Shapiro as Vice President of Sales, effective January 1, 2021.

Brad Hauser, Soliton's President and CEO, commented, "We are very excited to have Sean join our team during this pivotal time for the company as we anticipate clearance of our 510(k) application for cellulite reduction during the first quarter of 2021. Sean is a seasoned sales executive who has successfully launched several aesthetic devices in the industry, and we look forward to leveraging his extensive experience as we prepare for the commercial launch of our RAP technology during the first half of next year."

Most recently, Mr. Shapiro was Vice President of Commercial Operations at Viveve Inc., a Women's Health Company which manufactures patented CMRF Technology, where he recruited a sales team which generated approximately $11 million in revenue in the year of launch. Prior to this, Mr. Shapiro served as Senior Director of the North America Device Division at Merz, where he successfully led a team of over 60 sales professionals and helped launch Cellfina, a cellulite treatment device which generated $15 million in sales during the first year, along with Ultherapy, an industry leading skin tightening device.

"I am truly looking forward to being a part of an established veteran leadership team with such innovative technology that will provide practitioners and patients superior results in cellulite and tattoo removal," said Mr. Shapiro, Soliton vice president of sales, "I am also excited to become a key contributor to the commercial success and build a talented and determined sales organization."

Join our more than 200K subscribers here to follow the Company: https://soly-investors.com

About Soliton, Inc.

Soliton, Inc. is a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of MD Anderson Cancer Center. The Company's first FDA cleared commercial product will use rapid pulses of acoustic shockwaves as an accessory to lasers for the removal of unwanted tattoos. The Company is based in Houston, Texas, and is actively engaged in bringing the Rapid Acoustic Pulse ("RAP") device to the market. The Company believes this "Soliton" method has the potential to lower tattoo removal costs for patients, while increasing profitability to practitioners, compared to current laser removal methods. Soliton has filed a 510(k) application with the FDA for clearance of its RAP device to improve the appearance of cellulite and is investigating potential additional capabilities of the RAP technology. The device is currently cleared in the United States only for use in tattoo removal and is not yet cleared for use to address cellulite.

For more information about the Company, please visit:  http://www.soliton.com

Forward-Looking Statements

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, our ability to launch our RAP device in the first half of 2021, our ability to receive FDA clearance for the cellulite indication in the first quarter of 2021, our ability to effectively commercialize our products, and the ability of the RAP device to successfully treat cellulite. 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, 2019 we filed with the SEC on March 2, 2020 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.

View original content to download multimedia:http://www.prnewswire.com/news-releases/soliton-appoints-sean-j-shapiro-as-vice-president-of-sales-301199206.html

SOURCE Soliton, Inc.

FAQ

Who is Sean J. Shapiro and what experience does he bring to Soliton?

Sean J. Shapiro is the new Vice President of Sales at Soliton, with a track record including generating $11 million in revenue at Viveve and launching a $15 million cellulite treatment device at Merz.

What is the significance of the FDA clearance for Soliton's RAP device?

FDA clearance for the RAP device is crucial for Soliton's business as it would allow the company to enter the cellulite treatment market and potentially increase profitability.

When is the expected FDA clearance for the RAP device?

Soliton anticipates receiving FDA clearance for the RAP device aimed at cellulite reduction in the first quarter of 2021.

What impact does Sean J. Shapiro's appointment have on Soliton's sales strategy?

Shapiro's appointment is expected to strengthen Soliton's sales strategy, leveraging his extensive experience in launching aesthetic devices successfully.