- Therma Bright Inc.’s proprietary technology has received Class II medical device status from the U.S. Food and Drug Administration
- The global market for cosmeceuticals was valued at nearly $47 billion in 2017 and is estimated to see continued growth
- The company is waiting on regulatory approvals for its thermal therapy technology, which incorporates the use of cannabis or cannabidiol
Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF), a medical device technology provider focused on addressing dermatological needs in the multi-billion-dollar cosmeceutical (the convergence of cosmetic and pharmaceutical products) industry, offers relief for insect and marine life bites and stings, which is especially relevant as spring weather patterns transition into increasingly wet and humid conditions.
The company’s pain-free skin care offerings alleviate pain, itch and discomfort caused by a myriad of creatures, including bees, wasps, hornets, mosquitos, black flies and jellyfish. Therma Bright’s products, devices and treatments are effective and non-invasive, offering both cosmetic and medicinal or therapeutic benefits. This proprietary technology has received Class II medical device status from the U.S. Food and Drug Administration.
The global market for cosmeceuticals was valued at nearly $47 billion in 2017 and is estimated to be worth more than $80 billion by 2023. The industry is growing at a rate of nearly 9.5 percent, according to a report published by Mordor Intelligence (http://ibn.fm/8VK8q). Many factors are contributing to this growth, including a “sustained rise in aging population globally.” As the life expectancy for both women and men increases, the share of people over 75 using cosmetics is also on the rise. Women and men are desirous of maintaining a youthful appearance, and this healthy demand for such cosmetic products has opened a window for innovation. The industry continues to thrive as a result of these factors.
Currently, Therma Bright is utilizing social media to market its products, working to develop and maintain relationships with established North American and global retailers. In an effort to enter the flourishing cannabis market, Therma Bright is also researching methods of utilizing medical grade cannabis or cannabidiol (CBD) to achieve back, knee and other joint pain relief. Once it obtains the proper regulatory approvals, the company plans to use its wholly owned subsidiary to produce and sell its thermal therapy technology, which incorporates medical cannabis.
For more information, visit the company’s website at www.ThermaBright.com
NOTE TO INVESTORS: The latest news and updates relating to THRBF are available in the company’s newsroom at http://ibn.fm/THRBF
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