Dread those pesky forehead wrinkles that appear any time you crack a facial expression? The scientists at Redwood City-based believe their technology can reduce those lines and are looking to commercialize their technology in Europe after receiving fourth round funding of $33 million.
The toxin-free treatment, known as focused cold therapy (FCT), uses an extremely cold needle to freeze the muscles in the forehead to relax them. The needle is only inserted 4 mm into the skin to create a “cold zone” that puts the muscles into hibernation, explained President and CEO Clint Carnell.
Unlike botox, nothing is injected into the nerves during the 10-minute procedure, yet the results last for a similar period of two to four months. Carnell said there are very few risks involved because the worse case scenario is that a cold area is applied to the forehead.
“We believe that our natural, non-toxin approach will expand the entire category by pulling toxin-averse patients off the sidelines and into the doctor's office,” said Carnell.
The global aesthetic market is worth approximately $2 billion as more people are willing to receive a little augmentation to remove those facial imperfections. Addressing critics of plastic surgery, Carnell responded, “People don’t want to look different, they just want to look the best they can be.”
A pricetag hasn’t been set, Carnell said, but the average price of a botox treatment can range from $200 to $500, according to various medical sites.
Myoscience is also looking to use the toxin-free treatment for other therapeutic uses like pain and muscle disorder treatment, a $9 billion global market, the company said.
“Aesthetics is just the first indication of the treatment,” Carnell said. “We’ve got lots of work to do.”
For five years, scientists primarily did clinical work with 500 subjects to build a solid device. Then in 2012, the company began focusing on the applied treatment to the nerve, Carnell said. Now the company is on its way to Europe and Canada after it received its CE Mark clearance in December 2011 to begin administering the treatment.
The company has submitted a 510k application to the US Food and Drug Administration (FDA) and hopes to receive approval in 2014, Carnell said. The company plans to soon enroll subjects in trial studies to receive FDA clearance for the treatment. The technology is currently cleared in the U.S. for pain management and general surgical use.
The following investors have backed Myoscience: Accuitive Medical Ventures, American Equities Overseas, DeNovo Ventures, Medicis Capital, Nexus Medical Partners, Saratoga Ventures, and Valiance.
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