Soliton Enters into Distribution Agreement with Aesthetic Solutions, Inc. for Initial Commercial Launch of its RAP Device
Soliton, Inc. (Nasdaq: SOLY) announced a distribution agreement with Aesthetic Solutions, Inc. to launch its Rapid Acoustic Pulse (RAP) device for tattoo removal and cellulite reduction. The U.S. commercialization is set for early 2021, pending FDA clearance for cellulite. Aesthetic Solutions will target high-volume physician practices for distribution and servicing of the RAP device until Soliton's own sales force is established. The device aims to lower tattoo removal costs and improve profitability for practitioners compared to existing methods.
- Distribution agreement with Aesthetic Solutions for RAP device enhances market access.
- Targeted launch strategy focuses on high-volume tattoo removal and cellulite reduction practices.
- Potential to reduce tattoo removal costs and increase profitability for practitioners.
- RAP technology not yet cleared by the FDA for cellulite reduction.
- The device is currently limited to tattoo removal, restricting full market potential.
HOUSTON, Sept. 10, 2020 /PRNewswire/ -- Soliton, Inc., (Nasdaq: SOLY) ("Soliton" or the "Company"), a medical device company with a novel and proprietary aesthetic platform technology, today announced it has entered into a distribution and sales agreement with Aesthetic Solutions, Inc. to distribute its Rapid Acoustic Pulse (RAP) device and advanced design cartridges during the initial U.S. commercial launch, targeted for the first half of 2021.
The team at Aesthetic Solutions, Inc. will strategically focus on and target placement of the RAP device in physician practices that currently treat high volumes of patients for tattoo removal and cellulite reduction, upon FDA clearance. Their team will sell and service the RAP devices until Soliton's direct sales force is fully established for the expected national rollout.
As previously announced under Soliton's COVID-19 Adjusted Commercialization Strategy, the RAP device is planned to incorporate both the tattoo removal indication and the cellulite reduction indication, pending FDA clearance of the cellulite indication.
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"We are excited to have set in place a plan for the strategic distribution of our RAP device for our initial commercial launch," commented Christopher Capelli, MD, founder, President and CEO of Soliton. "Aesthetic Solutions has an exceptional reputation in the industry and we believe will generate positive results for Soliton among dermatologists, particularly key opinion leaders with strong relationships with their patients. Our relationship with Aesthetic Solutions represents a key step forward in accomplishing a successful commercial launch and we welcome their team as our sales and distribution partner."
"We are thrilled to partner with Soliton for the sales and distribution of its unique multi-indication aesthetic device," said Tim Howder, President of Aesthetic Solutions, Inc. "With 30 years of experience in aesthetic medical device rentals and distribution, we are excited to apply our unique skill sets in a program of strategic device distribution and service. Our highly trained sales and service staff teams are eager and ready to partner with Soliton to ensure success in the launch of this exciting multi-use device. We are well-equipped to support the company's upcoming launch and we look forward to a successful relationship."
Soliton's RAP technology has not yet been cleared by the FDA for cellulite reduction and is not available for sale in the United States for this indication.
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 completed a clinical study using the 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
This press release includes 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 statements involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, our ability to successfully launch our product. 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, actual results or outcomes may prove to be materially different from the expectations 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,'' "would," ''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 in our filings with the Securities and Exchange Commission ("SEC"), including under the heading " Risk Factors" in the Form 10-K for year ended December 31, 2019 filed with the SEC and as updated in our Form 10-Q filings and in our other 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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FAQ
What is the distribution agreement announced by Soliton with Aesthetic Solutions, Inc.?
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