Rapid Acoustic Pulse device granted patent in Europe; a total of 11 issued patents and 42 pending patent applications in various countries
HOUSTON, April 4, 2019 /PRNewswire/ -- Soliton, Inc., (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 the European Patent Office has issued a notice of grant for its European Patent Application No. 14760628.9 based on International Application No.PCT/US2014/021746; Entitled "Rapid Pulse Electrohydraulic (Eh) Shockwave Generator Apparatus And Methods For Medical And Cosmetic Treatments," by Christopher C. Capelli. The Patent is eligible for validation in 38 European countries.
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Clinical trials for tattoo removals have demonstrated that using the Company's RAP device, in conjunction with a Q-Switched laser, allows for multiple passes of laser treatment in a single treatment session. The current standard of care for tattoo removal is to use a Q-Switched laser to ablate the tattoo ink particles into pieces small enough for the body's natural processes to remove them. Independent studies have shown this standard treatment requires on average ten or more office visits to achieve acceptable results. In our own clinical trial using the RAP device in conjunction with a Q-Switched laser, patients experienced 75% to 100% removal of their tattoos in just three office visits.
Dr. Chris Capelli, President and CEO of Soliton, commented, "We now have eight patent families pending relating to the technologies that makes our RAP device and certain variations possible, with still more potential patent applications under way. Our patent portfolio is comprised of five pending U.S. patent applications, 11 granted and 33 pending foreign counterpart patent applications, and four pending PCT patent applications, each of which we either own directly or we are the exclusive licensee."
Dr. Capelli continued, "This latest patent protection is particularly important because of the breadth of countries throughout Europe impacted by the grant. Tattoo removal is a global opportunity, with worldwide sales in the segment estimated to be approximately $4.8 billion annually by 2023."
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.
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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 Soliton to secure adequate patent protection and the estimated potential size of the global tattoo 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 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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