Providing Effective Cosmeceutical Skin Care
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Therma Bright Inc. (TSXV:THRM) (“Therma Bright”) is a progressive medical device technology company that is focused on serving the $21 billion cosmeceutical industry. The company holds and is seeking various trademarks and patents for its thermal therapy technology that uses heat and light energy to deliver effective, non-invasive and pain-free skincare. This includes their InterceptCS™ device, which helps prevent cold sores from materializing and their TherOZap™ technology, that utilizes thermal therapy to combat the effects of insect bites and stings.
The skincare market is rapidly growing due to an aging population, advances in product development and the emergence of a niche market known as cosmeceuticals. Like cosmetics, cosmeceuticals are topically applied, with the difference being that they contain ingredients that influence the skin’s biological function. These ingredients have benefits beyond those offered by traditional cosmetics including effective protection, prevention and regeneration capabilities. As the demand for effective treatments promoting healthy skin increases, consumers are continuing to educate themselves about homemade and alternative treatments to commonly advertised expensive procedures.
Between 2013 and 2023, the skincare device market alone is expected to grow at a compounded annual growth rate of 11.9 percent, according to a study conducted by Research and Markets. A common skincare problem for most adults is the herpes simplex virus (HSV) or cold sores. Cold sores are blisters that generally develop on a person’s face, usually around the mouth. Approximately 67 percent of the world’s population under 50 years of age suffer from cold sores, according to a study conducted by the World Health Organization (WHO) in 2017.
Therma Bright has two products that are commercially available, including the InterceptCS™, which uses infrared light and heat to help prevent cold sores from materializing on the skin. The company currently has 18,000 units available for purchase that are packaged with 2 free activators. The activators generate the recurring revenue stream, ‘razor and razor blade’ model, after the company sells the unit. Currently all additional activators purchased provide one activation, the ‘razor blade’, a high margin recurring revenue stream to the company. The company has re-engineered the activator to provide multiple activations to support the legacy product. In the future a new device is in the works that will incorporate multiple activations in a seamless purchase process.
Therma Bright’s second product is the patent-pending TherOZap™ technology, which uses heat to decrease inflammation, pain and itchiness associated with insect bites and stings. The company’s redesigned topical applicator uses controlled heat and a silver antimicrobial coating to treat the effects of stings and bites. Additionally, Therma Bright has been testing the device’s efficacy in combating mosquito-borne illnesses such as the Zika virus. With promising preclinical trials and initial testing results, Therma Bright is working towards testing the device for treating West Nile and Dengue viruses.
In addition to the R&D being conducted on mosquito borne diseases, Therma Bright is interested in developing a pain relief product that integrates their thermal therapy technology with CBD and THC to provide pain relief those suffering from back pain, arthritis and other orthopedic-based pain.
Moving forward, Therma Bright will be rebranding their corporate website and the recently-acquired coldsores.com, which will be the new e-commerce home for their InterceptCS™ and TherOZap™ technology. In addition to their upcoming social media campaign, the company is looking for distribution partners to help move their existing 18,000 units of product.
Rob Fia, Therma Bright’s CEO, has worked with numerous companies in the natural resources, technology, healthcare (software and device related) and alternative energy industries and has help founded numerous companies in Africa, Canada, Chile and Colombia. Fia notably owns approximately 6.25 percent of the company’s shares himself.
- Serving the $21 billion cosmeceuticals market.
- 18,000 units of the InterceptCS™ ready to move.
- InterceptCS™ stops cold sores before they materialize.
- Multi-use activators have been designed and ready for manufacture to support legacy device.
- Second generation InterceptCS™ device to include multiple activations.
- Patent-pending TherOZap™ technology is in preclinical and initial testing and has shown promising results
- TherOZap™ technology could be used to counteract the effects of the Zika, West Nile and Dengue viruses.
- Once testing complete the company will seek FDA approval for potential claims on the TherOZap™ technology for efficacy against mosquito borne diseases.
- Additional R&D projects involve a thermal therapy device for pain relief and incorporates medicinal cannabis or CBD from hemp.
- Acquired coldsores.com as e-commerce platform for InterceptCS™
- CEO Rob Fia owns approximately 6.25 percent of the company’s shares.
InterceptCS™ is a Class II cold sore prevention device that topically provides heat from a hand-held, single-use disposable unit in three 30 second intervals to prevent outbreaks. Most of the cold sore products available in Canada treat the cold sore once it has developed. However, the InterceptCS™ device provides consumers with a non-invasive, no mess- and side-effect- free, treatment for prevention of cold sores that you can buy over the counter.
Therma Bright is using a ‘razor and razor blade’ model as part of a recurring revenue approach. Currently, Therma Bright has 18,000 units in stock that sell at $49.99 and includes two free single-use activators. The razor blade model combined with the redesigned multi-use activators, provides the company with the potential for significant revenue growth and high gross margins.
How it works
The InterceptCS™ system uses infrared light and heat to deeply penetrate the skin to kill the infected cells that cause cold sores. It does this by initiating a heat shock response in the bacteria cells. The heat shock proteins in the bacteria cell tell it to self-destruct, which predictably results in the death of the cell and allows the skin to return to its normal healthy state.
Therma Bright will start by deploying its 18,000 units in stock and is currently redesigning the InterceptCS™ system. The next iteration of the device will incorporate new technology that utilizes coatings, a smaller scale and more attractive look. Users will also be able to reload the device through Bluetooth technology or a physical applicator with multiple activations.
Therma Bright has developed a Class II medical device for the treatment of bug bites. The TherOZap™ technology can reduce the inflammation, relieve symptoms of pain and reduce the itchy feeling that is associated with insect bites and insect stings. The device is approved by regulatory bodies, including in the US and Canada.
In October 2016, Therma Bright entered into an exclusive product development agreement with Microbonds, an advanced coatings and electrical design company, to design Therma Bright’s thermal insect device. Therma Bright is looking into the possibility of incorporating Microbonds’ proprietary silver antimicrobial coating in the TherOZap™ technology. Silver is a well-known antimicrobial agent that is known for its efficacy and is used in a range of applications such as water and air filtration, wound and burn bandages, textiles, building supplies and food packaging.
The new device is patent-pending and builds on past devices that applied heat to the affected site. The redesigned applicator topically delivers controlled heat and antimicrobial coatings or solutions to the treatment area.
Therma Bright is exploring the applications of this device outside of the treatment of bites and stings. The company plans to use this technology in the treatment of mosquito borne viruses such as the Zika virus or West Nile virus. In April 2017, Therma Bright signed an agreement with the University Health Network, a major landmark in Canada’s healthcare system and a teaching partner of the University of Toronto, to initiate testing of the TherOZap™ technology.
The TherOZap™ technology encompasses specialized coatings, light, heat, and solutions with possible antimicrobial properties that were tested for efficacy against the Zika virus. In January 2018, results released from the preclinical study indicated that the device is able to inhibit the Zika virus.
Having received promising results after its preclinical study on the effectiveness of the device in regards to the Zika virus, Therma Bright has been exploring the efficacy the device against other mosquito-borne diseases, most notably the Dengue and West Nile viruses.
Currently, Therma Bright will continue testing the device’s efficacy in treating the mosquito-borne viruses it has been researching. The company is also awaiting the approval of additional patents they have filed regarding the TherOZap™ technology.
Pain Relief R&D Project
Aside from their R&D interest in TherOZap™ technology, Therma Bright is also focused on addressing the pain relief sector in the healthcare industry. In May 2018, Therma Bright announced that they intend to conduct research into the use of its thermal therapy technology when combined with CBD and THC to help those who experience pain in their everyday lives. Therma Bright will be conducting their research in conjunction with well-known pain relief labs and clinics and will be collaborating with these entities to develop a patented and or trademarked thermal therapy device(s) to aid in the relief of back pain, arthritis and other orthopedic-based pain with the help of CBD and THC.
Therma Bright is in the process of reviewing the acquisition of additional thermal therapy treatments and marketing avenues for their products.
In May 2018, Therma Bright acquired the domain coldsore.com. The company is planning to use this website as its main source of information for their current and future products.
“Therma Bright is pleased to announce that it has acquired coldsores.com as part of a rebranding and social media initiative for our preventative cold sore product; InterceptCS™,” said Therma Bright CEO Rob Fia. “In the near future we expect to revamp our corporate website and will tie in coldsores.com to our existing two e-commerce websites; interceptcs.com and interceptcoldsore.com.”
Rob Fia — CEO & Director
Mr. Fia was initially involved with Therma Bright Inc. (formerly, The Jenex Corporation) as an investor and now serves as CEO & Chairman of the Board of Directors.
Mr. Fia has an extensive contact base in the investment community and the financial sector as well as knowledge of the TSX, TSXV and CSE listing processes and guideline requirements. Mr. Fia’s 18 years’ experience in the investment business has encompassed both equity research and corporate finance advice to early stage, promising companies. He has developed a career of working with early stage technology, medical device, mining and oil & gas companies and advising corporate executives on business matters dealing with corporate finance, strategy, expansion, mergers and acquisitions, concept creation, private equity, corporate development, and corporate governance. Mr. Fia’s transition to CEO of Therma Bright Inc. was only natural given his significant experience working with promising companies and with more than a year of product development at Therma Bright he has transitioned legacy technology that Therma Bright expects to position in the future into substantial revenue. Mr. Fia received his B.Comm. (Honours) degree from the I.H. Asper School of Business at the University of Manitoba and holds the Chartered Financial Analyst designation.
Victor Hugo — CFO
Mr. Victor Hugo is senior financial analyst at Marrelli Support Services Inc., providing CFO, accounting, regulatory compliance, and management advisory services to numerous issuers on the TSX, TSX Venture Exchange and other Canadian and US exchanges. Mr. Hugo is a CPA, CMA and holds a Bachelors of Commerce with Honours specializing in Accounting and Cost and Management Accounting from Potchefstroom University in South Africa. Mr. Hugo served as CFO for several TSX Venture Exchange companies. He has over 20 years’ experience in a variety of industries including the mining and manufacturing sectors, with responsibility for accounting, budgeting and financial reporting.
Spencer Sung Bum Huh, Bec. — Director
Mr. Huh graduated from the Korea University in Seoul with a BEc. He is an experienced and proven financial professional with more than 25 years of financial and operational experience in Canada and Korea, and a track record of supporting ambitious growth plans. His expertise includes financial operations, strategy, performance management, and business planning for Korean and Canadian companies.
Mr. Huh began his career in 1993 as an investment advisor with Hanwha securities, second largest non-bank finance group in Korea. After immigrating to Canada in 2000, he served for 6 years as an investment advisor with BMO Nesbitt Burns in Toronto and subsequently he joined TD Canada Trust in Vancouver. Since 2012, Mr. Huh worked with numerous private and publicly listed companies in Korea and Canada, including mining, medical device, and high-tech companies. He has played an integral role in the establishment, acquisitions, and financing for these companies.
Tim Peterson — Director
Mr. Peterson has a Bachelor of Arts degree in economics from the University of Western Ontario. He sat on the Board of Directors of Augen Gold, Trelawney Mining, Northern Crown Capital, Inc. (a merchant banking firm), Process Capital, Nordex Explosives and Oxygen and Prescott Paper Products, as well as the Mississauga Hospital Foundation. Mr. Peterson is a former Ontario MPP (Mississauga South). Mr. Peterson is the brother of two prominent Liberal politicians: former Premier of Ontario, David Peterson and former federal cabinet minister, Jim Peterson.
Joseph Heng — Director
Mr Heng is a Chartered Accountant with 40 years of experience. He has been self-employed for 18 years. Mr. Heng has over 14 years of public company management experience, having served in the role as a director and/or CFO for various public companies listed on Canadian stock exchanges during that time. Mr. Heng graduated from the University of Malaya with a Bachelor of Science degree in Physics and Mathematics in 1968. Mr. Heng obtained his Chartered Accountant designation from the Ontario Institute of Chartered Accountants of Ontario in 1973. Mr. Heng is currently a Life Member of the Institute of Chartered Accountants of Ontario.
Leo Notidis — Advisor
Leonidas Notidis has spent nearly two decades advising Senior leadership teams from multinational corporations on entering global retail markets. As a previous Senior Director of Negotiation Strategy for a global leader in negotiation, he has consulted and coached C-suite leadership teams from over 200 of the Fortune 500 companies. His in-depth knowledge of the Retail and Pharmaceutical industry and the dynamics of the North American market have seen him take on the role of teacher, lecturer, consultant and practitioner. Having previously served on the Board of The Jenex Corporation, he is proud to lend his expertise from the pharmaceutical industry to once again build strategies to maximize the enormous potential present.
Joseph Galli — Advisor
Joseph is involved in the early stage capital markets as an investor and sits on numerous Boards of Advisors in the healthcare & cannabis, technology and financial services industries. He is also the founding member of the Montreal chapter of the Private Capital Markets Association of Canada (PCMA) and is on the National Board of Directors for Canada. Over the past 35 years, Joseph has completed dozens of restructuring, due diligence and acquisition mandates in numerous industries on behalf of private equity and venture capital firms and industry clients. Joseph has directed over 200 conferences, seminars and workshops, has been a board member of several private and public organizations and is also an investor in a number of early stage public companies in Canada and the USA. Mr. Galli is the Chairman of PENTOR Finance, a residential mortgage lending company.
Bruno Maruzzo — Advisor
Bruno Maruzzo has over 25 years’ experience in working with small to medium size technology companies in the computer, electronics and medical device fields as well as working in venture capital investing in technology-oriented companies. Through his consulting company, TechnoVenture Inc., he has provided general management, financing, business development and technical services to a variety of publicly traded and private technology and medical companies.
Mr. Maruzzo has served as senior management, director and advisor to a number of publicly traded medical technology companies.
Mr. Maruzzo holds a BASc in Electrical Engineering from the University of Waterloo, a MASC in Biomedical Engineering from the University of Toronto and an MBA from the University of Toronto.
Stephen Bennett, PhD — Advisor
Dr. Steven Bennett has over 20 years of research experience in multiple central nervous system (“CNS”) disorders, pain, and cancer. Dr. Bennett has developed expertise in molecular biology, cell biology, animal models, project leadership and research strategy. Dr. Bennett, a bench-to-clinic researcher, has trained at top academic institutes with reputed leaders in the field of Alzheimer’s disease, opiate receptors and melanoma.
Over the past 5 years, Dr. Bennett has shifted towards the cannabis industry and cannabis research. The development of an effective transdermal cannabinoid patch in 2014 lead to the launch of Prescott Logic, LLC., a private research laboratory owned by Dr. Bennett. Dr. Bennett became the Scientific Director of Evolab in Denver, Colorado, focusing on cannabis processing, namely extraction, distillation, and preparative chromatography of the plant. At Evolab total revenues climbed over 10 times during Dr. Bennett’s tenure. In 2017 Dr. Bennett joined the Maricann Group out of Toronto as Chief Scientific Officer to further the processing capacity and continue the development of medical cannabis products. Recently, Dr. Bennett incorporated Prescott Logic Technologies, Ltd. in British Columbia and soon to incorporate in Germany. Dr. Bennett will focus on product, equipment, and scientific research and development in order to advance of scientific knowledge of cannabis and cannabinoid/terpene based therapies.
Dr. Bennett’s role with Therma Bright will be to focus on the development of advanced pain relief formulations to be incorporated with Therma Bright’s thermal therapy technology and advise on how best to test Therma Bright’s thermal technology with cannabinoids and to advise on optimal research protocols and methodologies for Therma Bright’s technology platform.
Michael Bosman — Advisor
Michael is leveraging 20 years of senior commercial roles in the pharmaceutical/OTC industry to advise promising stakeholders in the medical device and cannabis industry. Michael’s breadth of experience includes multiple therapy areas at both Global and Affiliate operations at 3 major organizations- GlaxoWellcome, Eli Lilly, and, most recently, Novartis Pharma. Senior roles have included New Product Planning, Market Research, Marketing, Sales, Brand Planning and extensive collaboration with Clinical, Health Policy & Regulation divisions. Michael has been an active team leader during all phases of product development from 6 years pre-launch through launch through to generic introduction. Michael has also served as a Global Expert Consultant on Customer Segmentation and Direct-To-Consumer marketing.
Gilbert Sharpe — Advisor
Is the former long-time Director of the Legal Branch of the Ontario Ministry of Health and Long-Term Care, brings invaluable experience from a distinguished 40-year career in legal practice and advisory roles. He recently established his own boutique healthcare advisory service, following 15 years in private practice as a partner at several major Bay Street law firms.
Gilbert offers unparalleled experience in healthcare public policy and regulation, and intimately understands the complex realm of evolving public and private healthcare in Canada. Through his involvement with the Ministry of Health since 1975, and associated work with numerous government ministries and agencies, Gilbert has influenced some of the most important legal issues and policy matters affecting modern health care in Canada. This includes the development of legislation and policies to improve the Ontario and Canadian health care system.
Internationally, Gilbert has been an advisor on healthcare projects for the World Bank, Inter-American Bank, and the World Health Organization. He advised on US healthcare reforms in part during his tenure as a professor in the health law group at Loyola University in Chicago.
Gilbert holds several professorships, including the Institute of Health Policy, Management and Evaluation (IHPME) at the University of Toronto. Gilbert received his LLB and LLM from Osgoode Hall Law School. He is President of the Canadian Institute of Law and Medicine and Editor-in-Chief of Health Law in Canada. Gilbert has published several books, hundreds of articles, and is a sought-after speaker at conferences.
Gilbert Sharpe brings to Therma Bright years of experience in health law and government policy. Mr. Sharpe’s healthcare experience encompasses both academia and practical medicine. He has introduced medical devices from around the world to the International & Canadian Medical community and has been a catalyst to bring them to market.
Stephen McNeill — Advisor
Stephen McNeill is a marketing strategist who has been helping businesses increase sales through innovative solutions. As managing partner of Q4 Communications, he has been instrumental in the evolution of Q4 from traditional marketing to digital advertising, sales funnels, chatbots and other emerging technologies that are having significant success in generating leads, and sales, for clients. He has been working in the cannabis industry for the past 5 years and is an associate of 3 West Management Group, an Ontario-based consulting firm of pharmaceutical, biomed and medical device experts with over 30 years experience in product launches, sales and marketing.
Too Jae Min, PhD – Advisor
Dr. Too Jae Min has over 18 years experience in both academia and the business world acting as CEO of medical device and cosmetic companies. Dr. Min is currently, Professor, Department of Anesthesiology and Pain Medicine at Korea University Medical School. Dr. Min is a member of both the American and Korean Society of Anesthesiologists. Dr. Min is a member of the Medical Device Standard Development Committee in Korea and has co-authored over 50 peer reviewed publications for which he has received over 5000 citations. He has been awarded multiple prizes in his scientific field including: Dong-Soong Best Scientist Award (2011), Best Anesthesia and Pain Medicine article of year (2016), and Best Artificial Intelligence application in the medical field (2018). He received his Ph.D. in Medical Science, Graduate School of Korea University, Seoul, Korea in 2010 and his postgraduate from the Business School of Korea University (Advanced Management Program) during February 2018.
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