WEBVTT - Miramar Labs Wipes Away Sweat Glands and Odor (Audio)

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<v Speaker 1>Now on Bloomberg Radio, we take stock of healthcare. The

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<v Speaker 1>issue of drug pricing has been at the forefront, certainly

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<v Speaker 1>in the political realm for the last few months. We're

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<v Speaker 1>living in a very special time in the history of

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<v Speaker 1>the pharmaceutical industry. Three of all biotechs that start actually

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<v Speaker 1>get a drug approved. It's a very hard thing to do.

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<v Speaker 1>Bloomberg taking stock healthcaret and focus on Bloomberg Radio. Don't

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<v Speaker 1>sweat it. Never let them see you sweat. Well, it's

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<v Speaker 1>possible now, but not because of an antipe perspirin. It's

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<v Speaker 1>a new technology that actually kills under arm sweatlands by

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<v Speaker 1>micro waving them. The company is Mirror Dry. The CEO

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<v Speaker 1>joins us now he's the CEO of Mirror mar Labs.

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<v Speaker 1>Michael Klein, Welcome to the show. Thank you very much,

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<v Speaker 1>glad to be here. My mind is still boggled. How

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<v Speaker 1>does this work. It's it's a it's a revolutionary technology

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<v Speaker 1>that was put together by the foundry in Silicon Valley,

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<v Speaker 1>which has had a number of successful company ventures. And

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<v Speaker 1>the founder years ago looked at how were bothered by

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<v Speaker 1>their sweat and they really weren't. And there really still

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<v Speaker 1>is not any good alternatives for that. In other words,

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<v Speaker 1>you can look at let's talk about anti purss burns

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<v Speaker 1>and deodorants. They only have about efficacy rate. So I'm

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<v Speaker 1>sure a lot of your listeners right now are going, well,

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<v Speaker 1>that makes sense. That's why I wear a T shirt,

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<v Speaker 1>That's why I do things. There was a recent article

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<v Speaker 1>in the Wall Street Journal, I think on July by

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<v Speaker 1>Elizabeth Holmes that said is your deodor working? And talked

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<v Speaker 1>about how of women carried the odor and around with

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<v Speaker 1>them to reapply it during the day. So the other

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<v Speaker 1>options or botox, and the other options were surgery. Uh.

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<v Speaker 1>They looked at all types of different energy modalities and

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<v Speaker 1>found that microwave, very concentrated, very short bursts of microwave

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<v Speaker 1>energy under the arm not only eliminated the sweat and

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<v Speaker 1>the odor glands, but also the hair. So you get

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<v Speaker 1>kind of a trifecta sweat, odor in hair. The company

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<v Speaker 1>currently doesn't make money. The company does the company me

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<v Speaker 1>right now. We have revenues. We just finished the second

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<v Speaker 1>quarter about eleven point seven million. We're not profitable yet.

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<v Speaker 1>We're working on the top line and working towards that. Now.

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<v Speaker 1>I know that you are not necessarily recently but you

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<v Speaker 1>were previously the chief executive of EndoGastric. That's correct. Um,

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<v Speaker 1>why go public in the reverse merger? Why did that

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<v Speaker 1>take place? Do you think because we believe that this

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<v Speaker 1>technology h is we have a we have a window

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<v Speaker 1>of opportunity to really get this out there, and we

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<v Speaker 1>believe that getting this out letting people see it the

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<v Speaker 1>biggest issue. Why not wait until you're profitable and large

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<v Speaker 1>because right now, right now, I honestly believe that we

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<v Speaker 1>can get it through the through the public markets. We

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<v Speaker 1>can get a very strong interest in this and then

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<v Speaker 1>drive it from that standpoint. Is there a health risk here?

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<v Speaker 1>Is killing sweat glands on your body? Great question? Uh?

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<v Speaker 1>The the people wonder, they say, okay, you're getting rid

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<v Speaker 1>of sweat glands, and we suppose us to have sweat glands. Uh.

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<v Speaker 1>The amount of sweat glands under your arms, it's only

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<v Speaker 1>about one to one and a half percent of your body.

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<v Speaker 1>We've done over seventy thousand procedures to day, and so

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<v Speaker 1>the thermal regulation of the body is not affected. And

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<v Speaker 1>it's also been passed by every regulatory group. We are

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<v Speaker 1>FDA cleared. Now this is very important in the ascetic industry.

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<v Speaker 1>We are FDA cleared, we're c MARK cleared in in Europe,

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<v Speaker 1>and we also just received approval in China where ce

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<v Speaker 1>FDA approved there and you made China's you know, there's

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<v Speaker 1>twenty hospitals, private hospitals that offer aesthetic procedures in China,

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<v Speaker 1>So we were very excited about that. Tell us a

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<v Speaker 1>little bit about the company, the composition of the company,

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<v Speaker 1>because I think you did a private alternative funding raise

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<v Speaker 1>of about nine million dollars earlier this year. That's correct,

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<v Speaker 1>And so what we're doing right now is we did

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<v Speaker 1>the we did the alternative, we through the pipe. We

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<v Speaker 1>we got it to this point where we are right

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<v Speaker 1>now is is looking to get more money in through

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<v Speaker 1>the pipe to continue to drive the company from a

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<v Speaker 1>capital standpoint. So again, how big is the market you

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<v Speaker 1>work through doctors in their offices, How does the pricing,

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<v Speaker 1>how does the pass through the company? Well, let me

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<v Speaker 1>the size of the market, I believe is immense, and

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<v Speaker 1>let me talk about that. First of all, there's UH.

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<v Speaker 1>If you're just talking about clinical hyper hydrosis of people

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<v Speaker 1>that are diagnosed with having UH sweat problems that literally

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<v Speaker 1>go for botox and surgery, you're talking about two million worldwide.

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<v Speaker 1>But the market to me is the antiperspirant in the

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<v Speaker 1>deodorant market, which as we in sixteen will be about

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<v Speaker 1>an eighteen billion dollar market and is in five years

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<v Speaker 1>from now it's projected to be twenty four billion dollar market.

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<v Speaker 1>And the reason I believe that the market is that

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<v Speaker 1>big is because for a number of people, deodorants just

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<v Speaker 1>don't work. Plus people just don't like putting harsh chemicals

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<v Speaker 1>on under their arms. For example, if you look on

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<v Speaker 1>the back of your antiperspirant, almost everyone says that do

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<v Speaker 1>not apply if you have broken skin or or cuts.

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<v Speaker 1>Yet women shave under their arms every day. So I

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<v Speaker 1>guess the mantra for for us is it's almost like

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<v Speaker 1>when laser first came out for hair removal for legs,

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<v Speaker 1>you know, laser throw away your razor. Then lasers came out,

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<v Speaker 1>throw away your glasses, mirror drives coming out, and we're

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<v Speaker 1>staying throw away your antiperson prints and your deodorance. Just quickly,

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<v Speaker 1>where is the product? Where's it made? The main the

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<v Speaker 1>product is made in Santa Clair, California, Thank you very much.

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<v Speaker 1>Michael Klein is the chief executive of Miramara Labs, talking

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<v Speaker 1>about their technology that wipes out under arm sweat glands,

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<v Speaker 1>and odor. It's called Mirror Drive. You're listening to taking Stock.

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<v Speaker 1>I'm Pim Fox my co host Kathleen Hayes, and this

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<v Speaker 1>is Bloomberg.