Soliton signs Agreement with Global Manufacturer Sanmina
Expects Delivery and Sales of Initial RAP Devices for Tattoo Removal in Mid-2020
HOUSTON, March 9, 2020 /PRNewswire/ -- Soliton, Inc., (Nasdaq: 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 it has entered into a Manufacturing Services Agreement with Sanmina Corporation, a leading integrated manufacturing solutions provider, as it transitions to manufacturing for the limited launch of its Rapid Acoustic Pulse ("RAP") device for tattoo removal expected in mid-2020.
Under the terms of the agreement, which is effective March 6, 2020, Sanmina Corporation will manufacture Soliton's RAP device and replaceable cartridges.
"We are delighted to continue to partner with Sanmina Corporation as we begin our transition into the manufacturing phase of commercialization ahead of the planned mid-2020 limited launch of our unique RAP device," said Dr. Chris Capelli, Soliton's President, CEO and co-founder. "Sanmina's expertise and world-class service are a great match for Soliton's innovative device, which is FDA-cleared for tattoo removal and we believe has potential in additional aesthetic indications including cellulite removal and fibrotic scarring, and we look forward to working with them in the years ahead."
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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 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 is investigating potential additional capabilities of the RAP technology in clinical and preclinical testing, including the potential to improve the appearance of cellulite by creating mechanical stress at the cellular level and inducing significant collagen growth and the potential to treat keloid and hypertrophic scars by targeting the stiffened environment in the intracellular matrix.
For more information about the Company, please visit: http://www.soliton.com
Forward-Looking Statements
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 to partner with Sanmina in manufacturing the RAP device and to launch its product in mid-2020, and the potential additional capabilities of the RAP technology in other indications. 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 under in our SEC filings, including under the heading "Item 1A. Risk Factors" in the Form 10-K for year ended December 31, 2019 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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SOURCE Soliton, Inc.
Company Codes: NASDAQ-NMS:SOLY