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