Aesthera Corp. announced yesterday (Tuesday) that it received FDA approval for the "Aesthera Photo-Pneumatic" system, intended for the treatment of skin defects, pigmentation and permanent hair removal
By: John Ben Zaken, InformationWeek
Aesthera Corp., a start-up company in the field of medical devices, whose founders are graduates of Luminis, announced on 3/5 that it received FDA approval for the "Aesthera Photo-Pneumatic" system, intended for the treatment of skin defects, pigmentation and permanent hair removal.
The photopneumatic treatment is unique as it is applied painlessly due to the combination of pneumatic energy and broadband light. The treatment is safer compared to other light-based treatments and considerably reduces the side effects such as redness, burning and scars.
Astra CEO Alon Maor said that receiving FDA approval for the photopneumatic treatment is a significant milestone for the American cosmetic treatment market, which is estimated at approximately 25.5 billion dollars a year, due to it being the first treatment method applied without pain. He added that the company met its goals of developing a pain-free and safe treatment and through the photopneumatic method it is also faster and more efficient.
The start-up company Aesthera Corporation, established by a number of Lumenis graduates, completed a second capital raising round in February of this year in the amount of 6.5 million dollars.
The fundraising round was led by the Californian venture capital fund MedVenture, and previous investors in the company, the venture capital fund Adam Street Partners and private investors who have invested $2.5 million in the company to date also participated. Among the private investors are Zeev Tadmor, who was the president of the Technion and a member of the board of directors of Lumanis, Yasha Seton, the CEO of Lumanis in the past, and Amnon Harari, who was also a member of the board of directors of Lumanis.
Astra, founded in 2004 by Alon Maor, formerly the vice president of Luminis and now CEO of Astra, and Bob Anderson, develops a laser product intended for the cosmetic market, it is a photo-pneumatic technology that uniquely combines pneumatic energy with broadband light that is supposed to reduce pain fivefold in cosmetic treatments.
The technology can be applied in various treatments, including hair removal, skin rejuvenation and treatment of veins, damaged skin and varicose veins.
The market for laser cosmetic treatments is estimated at $7 billion and is expected to grow to $12 billion in the next two years, and the market for equipment for hair removal treatments is estimated at $500 million per year.
