Speaker 1: Now on Bloomberg Radio, we take stock of healthcare. The
Speaker 1: issue of drug pricing has been at the forefront, certainly
Speaker 1: in the political realm for the last few months. We're
Speaker 1: living in a very special time in the history of
Speaker 1: the pharmaceutical industry. Three of all biotechs that start actually
Speaker 1: get a drug approved. It's a very hard thing to do.
Speaker 1: Bloomberg taking stock healthcaret and focus on Bloomberg Radio. Don't
Speaker 1: sweat it. Never let them see you sweat. Well, it's
Speaker 1: possible now, but not because of an antipe perspirin. It's
Speaker 1: a new technology that actually kills under arm sweatlands by
Speaker 1: micro waving them. The company is Mirror Dry. The CEO
Speaker 1: joins us now he's the CEO of Mirror mar Labs.
Speaker 1: Michael Klein, Welcome to the show. Thank you very much,
Speaker 1: glad to be here. My mind is still boggled. How
Speaker 1: does this work. It's it's a it's a revolutionary technology
Speaker 1: that was put together by the foundry in Silicon Valley,
Speaker 1: which has had a number of successful company ventures. And
Speaker 1: the founder years ago looked at how were bothered by
Speaker 1: their sweat and they really weren't. And there really still
Speaker 1: is not any good alternatives for that. In other words,
Speaker 1: you can look at let's talk about anti purss burns
Speaker 1: and deodorants. They only have about efficacy rate. So I'm
Speaker 1: sure a lot of your listeners right now are going, well,
Speaker 1: that makes sense. That's why I wear a T shirt,
Speaker 1: That's why I do things. There was a recent article
Speaker 1: in the Wall Street Journal, I think on July by
Speaker 1: Elizabeth Holmes that said is your deodor working? And talked
Speaker 1: about how of women carried the odor and around with
Speaker 1: them to reapply it during the day. So the other
Speaker 1: options or botox, and the other options were surgery. Uh.
Speaker 1: They looked at all types of different energy modalities and
Speaker 1: found that microwave, very concentrated, very short bursts of microwave
Speaker 1: energy under the arm not only eliminated the sweat and
Speaker 1: the odor glands, but also the hair. So you get
Speaker 1: kind of a trifecta sweat, odor in hair. The company
Speaker 1: currently doesn't make money. The company does the company me
Speaker 1: right now. We have revenues. We just finished the second
Speaker 1: quarter about eleven point seven million. We're not profitable yet.
Speaker 1: We're working on the top line and working towards that. Now.
Speaker 1: I know that you are not necessarily recently but you
Speaker 1: were previously the chief executive of EndoGastric. That's correct. Um,
Speaker 1: why go public in the reverse merger? Why did that
Speaker 1: take place? Do you think because we believe that this
Speaker 1: technology h is we have a we have a window
Speaker 1: of opportunity to really get this out there, and we
Speaker 1: believe that getting this out letting people see it the
Speaker 1: biggest issue. Why not wait until you're profitable and large
Speaker 1: because right now, right now, I honestly believe that we
Speaker 1: can get it through the through the public markets. We
Speaker 1: can get a very strong interest in this and then
Speaker 1: drive it from that standpoint. Is there a health risk here?
Speaker 1: Is killing sweat glands on your body? Great question? Uh?
Speaker 1: The the people wonder, they say, okay, you're getting rid
Speaker 1: of sweat glands, and we suppose us to have sweat glands. Uh.
Speaker 1: The amount of sweat glands under your arms, it's only
Speaker 1: about one to one and a half percent of your body.
Speaker 1: We've done over seventy thousand procedures to day, and so
Speaker 1: the thermal regulation of the body is not affected. And
Speaker 1: it's also been passed by every regulatory group. We are
Speaker 1: FDA cleared. Now this is very important in the ascetic industry.
Speaker 1: We are FDA cleared, we're c MARK cleared in in Europe,
Speaker 1: and we also just received approval in China where ce
Speaker 1: FDA approved there and you made China's you know, there's
Speaker 1: twenty hospitals, private hospitals that offer aesthetic procedures in China,
Speaker 1: So we were very excited about that. Tell us a
Speaker 1: little bit about the company, the composition of the company,
Speaker 1: because I think you did a private alternative funding raise
Speaker 1: of about nine million dollars earlier this year. That's correct,
Speaker 1: And so what we're doing right now is we did
Speaker 1: the we did the alternative, we through the pipe. We
Speaker 1: we got it to this point where we are right
Speaker 1: now is is looking to get more money in through
Speaker 1: the pipe to continue to drive the company from a
Speaker 1: capital standpoint. So again, how big is the market you
Speaker 1: work through doctors in their offices, How does the pricing,
Speaker 1: how does the pass through the company? Well, let me
Speaker 1: the size of the market, I believe is immense, and
Speaker 1: let me talk about that. First of all, there's UH.
Speaker 1: If you're just talking about clinical hyper hydrosis of people
Speaker 1: that are diagnosed with having UH sweat problems that literally
Speaker 1: go for botox and surgery, you're talking about two million worldwide.
Speaker 1: But the market to me is the antiperspirant in the
Speaker 1: deodorant market, which as we in sixteen will be about
Speaker 1: an eighteen billion dollar market and is in five years
Speaker 1: from now it's projected to be twenty four billion dollar market.
Speaker 1: And the reason I believe that the market is that
Speaker 1: big is because for a number of people, deodorants just
Speaker 1: don't work. Plus people just don't like putting harsh chemicals
Speaker 1: on under their arms. For example, if you look on
Speaker 1: the back of your antiperspirant, almost everyone says that do
Speaker 1: not apply if you have broken skin or or cuts.
Speaker 1: Yet women shave under their arms every day. So I
Speaker 1: guess the mantra for for us is it's almost like
Speaker 1: when laser first came out for hair removal for legs,
Speaker 1: you know, laser throw away your razor. Then lasers came out,
Speaker 1: throw away your glasses, mirror drives coming out, and we're
Speaker 1: staying throw away your antiperson prints and your deodorance. Just quickly,
Speaker 1: where is the product? Where's it made? The main the
Speaker 1: product is made in Santa Clair, California, Thank you very much.
Speaker 1: Michael Klein is the chief executive of Miramara Labs, talking
Speaker 1: about their technology that wipes out under arm sweat glands,
Speaker 1: and odor. It's called Mirror Drive. You're listening to taking Stock.
Speaker 1: I'm Pim Fox my co host Kathleen Hayes, and this
Speaker 1: is Bloomberg.