We proudly announce the full exclusive interview between Pennystocks.news and Therma Bright Inc, which took place on October 26, 2020. This interview is a reference for the article about Therma Bright that has been posted earlier today – where the interview was transformed in an article.
Click here to read the article.
INTERVIEW WITH THERMA BRIGHT INC. – October 26, 2020
PSN: For those who are not (or little) familiar with Therma Bright Inc. (TSVX: $THRM), how can we describe your company and activities in the best way possible?
Therma Bright: we are a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The company’s initial breakthrough proprietary technology delivers effective, non-invasive and pain-free skincare. Therma Bright has engaged with Orpheus Medica to co-develop a rapid saliva screening test to detect Covid-19. The company has Health Canada and FDA approvals for its products and maintains a quality management system (QMS) for medical devices, ISO 13-485.
PSN: What are the short- and long-term goals of Therma Bright? And what business strategy is or will be used to achieve these term goals?
Therma Bright: The short-term goals for Therma Bright and our co-development partner Orpheus Medica will focus on the development of an exciting rapid saliva testing and screening technology called CoviSafe™. We want to prove that CoviSafe™ can work at detecting the Covid-19 in a rapid test format producing an accurate result in less than 20 minutes. We are diligently moving the progress forward from validation, prototyping, achieving regulatory approval and eventually commercialization. We hope to have a commercial ready product during early 2021.
Our long-term goals will be to offer a multi-suite of novel medical device products that use natural heat, cold or other non-invasive technology to treat common diseases. Part of the strategy will be to expand our current technology which will involve re-designing our product and to focus on e-commerce marketing channels incorporating an extensive social media campaign to sell our products. For the long term we hope to help solve this massive Covid-19 global pandemic with Covisafe™ and to expand to other diagnostic testing in the event the virus mutates and in the event the next pandemic hits the globe we will be ready to protect people around the world through testing with a cost effective solution.
PSN: Therma Bright Inc. holds patents pending and the trademarks for Therozap™ and the trademark InterceptCS™ along with regulatory approvals for its breakthrough Therma therapy technology. What can be said about Therozap™ and InterceptCS™?
Therma Bright: Therma Bright’s Therozap™ technology was initially intended to be used to relieve of pain and itch from mosquitoes, black flies, jelly fish and bee stings. In addition to these benefits, and what’s really cool about Therozap™, is that we have tested the product against the Zika virus in vitro with two level 4 labs in Canada. Those tests proved the Therozap™ was effective at killing the Zika virus in-vitro. Therozap™ uses specialized coatings combined with heat. Therma Bright has filed a patent for the technology and a received a trademark for Therozap™. In the future we plan on testing Therozap™ against the Dengue virus and if successful we will pursue a claim that the product works against Zika and Dengue along with the appropriate regulatory approvals.
Therma Bright’s InterceptCS™ product uses heat delivered in measured doses to treat HSV-1 which is the virus that causes cold sores. InterceptCS™ is a simple handheld device with a plug-in unit called an activator that allows the product to function. When someone gets a cold sore there is typically a tingling sensation in the lip area known as the prodrome stage. The user would place the InterceptCS™ on the lip area for 3-30 second heat treatments to prevent the cold sore.
InterceptCS™ utilizes a razor/razor blade business model whereby users can buy replacement activators from Therma Bright creating a recuring revenue stream. There are no messy creams to apply to the lip area or drugs to ingest to fight off HS1-V, some of which are not effective or provide minor relief. We have plans to develop a new device that is smaller and discrete, incorporates specialized antimicrobial coatings and incorporates Bluetooth technology to reorder activations.
Therma Bright received Health Canada approval for the prevention claim for InterceptCS™.
PSN: Therma Bright is in the research and development stage to develop a novel device for relief of pain associated with back, knee or other joint pain. What can we imagine in this phase? How is it different from the current offer?
Therma Bright: Therma Bright initially considered developing its own technology for pain relief and instead acquired Benepod® technology and VenoWave® to treat venous insufficiency and increase blood circulation in the legs from Saringer Life Science Technologies Inc. as part of an asset purchase. Therma Bright closed this asset acquisition during August 2020 in a all cash deal. Our Company felt this was a great acquisition as the technologies were already developed with IP such as patents and trademarks in place.
Benepod® uses contrast therapy- reciprocating between hot and cold. When a user experiences pain in the muscles or joints they would simply place the Benepod® product on the area they are experiencing pain for a few minutes. The product creates a natural anesthetic effect by calming the nerves in the area which sends a signal to the brain the pain is relieved. It is a natural product and there are no creams to apply or pills to ingest to relive pain.
PSN: Therma Bright wants to market its products online through various social media networks, and to eventually re-establish relationships with major North American and Global retailers. How far are you in this process and what strategy is being used?
Therma Bright: We’re currently revamping its online presence creating a consumer-focused website for all its products. The Company expects to have the website ready prior to year end 2020. The consumer products can be purchased via e-commerce transactions. As part of the new website launch the Company’s social media pages will be updated and utilized for marketing purposes. Most of the effort will be placed on selling product through our consumer websites and as the brand is established over time we will expand to retail. It is exciting as our margins will be a lot higher selling direct to consumer via e-commerce.
PSN: Earlier this month Therma Bright was pleased to announce the recent award of a Mitacs Elevate research internship program. What does this mean for your business today?
Therma Bright: Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges with research solutions from academic institutions. Mitacs is funded by the Government of Canada, the Governments of Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, Quebec and Saskatchewan, and Innovation PEI and Research Manitoba.
Therma Bright and our co-development partner Orpheus Medica were excited to expand our research collaboration with our academic collaborators with support from the Mitacs research internship program. This funding allows us to receive the necessary resources to complete the basic understanding of SARS-CoV-2 mode of action and allow us to design the most optimal biological candidates
PSN: Therma Bright now wants to fill the gap with CoviSafe™ in the current screening methods to detect the COVID-19 virus in asymptomatic subjects suspected of encountering COVID-19 positive individuals. How are the developments going and what are your current expectations? How do you estimate the opportunities with CoviSafe™?
Therma Bright: Worldwide experts have stated that the key to battle Covid-19 will involve vaccines, therapeutics, and extensive testing. Therma Bright and Orpheus Medica are aiming to prove that its test CoviSafe® can produce rapid, accurate and sensitive results using saliva. The CoviSafe® applications would apply to sports, airlines, hotels and hospitality, cruise lines, schools and businesses that need to test their employees. The current testing regime uses uncomfortable swabs with samples that must be sent to a lab causing delays with the results. We hope to avoid delays as our test would be a timely with a result in less than 20 mins and a lot less expensive than other methods.
PSN: Which events (apart from CoviSafe™) has Therma Bright experienced since the outbreak of COVID-19? How did the pandemic effect the business and how did you deal with this?
Therma Bright: We have constantly searched for new ideas to solve health issues that are device based. When the Covid-19 pandemic affected the globe, we were asked by shareholders if we had any solutions for Covid-19. Since Therma Bright has core competencies to develop medical devices such as ISO 13485 QMS, understanding of Health Canada and FDA regulations and an excellent group of regulatory consultants and advisors we felt up for the challenge. We initially considered personal protection equipment and then pivoted to working with Orpheus Medica on a rapid saliva diagnostic test, CoviSafe™, to detect Covid-19. It was a natural extension for Therma Bright to team up with Orpheus Medica to develop CoviSafe™ and especially due to the expertise between the two companies.
PSN: With CoviSafe™, Therma Bright works closely together with Orpheus Medica Inc. Why is this partnership so important for your business and the development of CoviSafe™?
Therma Bright: Recently, Therma Bright and Orpheus Medica announced the successful completion of the feasibility phase for CoviSafe™ and the engagement of nanoComposix Inc. to complete the next phase of development for CoviSafe™. NanoComposix is uniquely positioned to begin final development of CoviSafe™ and to assist Therma Bright and Orpheus Medica with defining optimal reagents and chemistries necessary to make CoviSafe™ an ultrasensitive, rapid, saliva-based, point of care lateral flow test for SARS-CoV-2.
NanoComposix is a global supplier of the widest variety of precisely engineered, highly characterized nanoparticles and provides full-service lateral flow assay development solutions for its medical device customers. nanoComposix has more than a decade of experience building precisely engineered and highly characterized nanomaterials for thousands of customers worldwide.
Therma Bright & Orpheus Medica will retain the commercial rights to the resulting CoviSafe™ rapid saliva test. The companies will work in parallel to complete development of the test prior to clinical testing for submission to Health Canada, FDA and to attain European CE marking to introduce CoviSafe™ into markets as quickly as possible.
PSN: What can be shared about your figures in Q3? To what extent has it fulfilled the objectives?
Therma Bright: Our year’s end is July 31st, and this is our Q1. Therma Bright should be looked at as an R&D company at this stage as we develop our existing products and our e-commerce and social media channels for our consumer products. We expect to see some excellent traction with our marketing initiatives starting in Q2 and Q3 for our consumer products. With CoviSafe™ we have fielded extensive customer requests and we are moving as quickly as possible to develop CoviSafe™ for worldwide markets. There is no shortage of demand for CoviSafe™ once we prove this technology works and receive regulatory approvals. We successfully closed the Orpheus Medica co-development agreement and acquired the Saringer Life Science Technologies assets during Q1.
PSN: in overall, what is the current financial state of the assets, income, revenue, and possible debts? In other words, how ‘healthy’ is Therma Bright in 2020?
Therma Bright: During Q1 Therma Bright successfully completed a financing for $1,250,000 and is well capitalized. The financing includes an accelerated warrant exercisable at $0.15 which the Company expects to be exercised prior to expiry during early 2021. This would result in further $1,250,000 into the Company’s treasury. Therma Bright is an R&D company that will focus on increasing sales of its consumer products with the launch of its new website presence as outlined. Once the CoviSafe™ product is commercialized the Company has received extensive requests to purchase product from around the world. There is currently a $40,000 term loan on the books and no other debt.
PSN: Why did Therma Bright enter the stock market? What has it achieved for the company since then?
Therma Bright: We entered the stock market to access capital more easily and to take advantage of higher multiples offered to public companies versus private companies. Recently our market capitalization has increased from just over $3M during June of 2020 to over $23M today. We expect our market capitalization to increase further with the successful commercialization of CoviSafe™ and the roll out of our consumer products e-commerce focused websites.
PSN: For those being quite unfamiliar with this industry, what is the main incentive for a company like Therma Bright to make it profitable and interesting for new investors or shareholders?
Therma Bright: There are considerable growth opportunities via e-commerce especially due to Covid-19 and the demand for at home medical device technology to relieve common health problems such as pain and other inflammatory issues.
Therma Bright expects to continue to develop novel devices that will incorporate light, heat, cold therapy, specialized coatings, bluetooth and AI in the future.
The game changer for our Company will be CoviSafe™ as it will assist people around the world to deal with this terrible Covid-19 pandemic. We expect, once commercialized, that CoviSafe™ will generate significant demand for a rapid saliva test that is non-invasive, easy to use and will product fast and accurate results.
PSN: Why should potential shareholders choose for Therma Bright? What sets your business apart from the competition in the cosmeceutical industry?
Therma Bright: We are a Canadian company with an experienced team that can develop innovative ideas quickly to fight global issues such as Zika or Dengue with Therozap™. In the example of CoviSafe™, along with our co-development partner Orpheus Medica and recently engaged nanoComposix, we are well positioned to develop a rapid saliva test to assist with the battle against Covid-19 around the world and to bring life back to normal with a test that will be accurate and inexpensive.
PSN: Finally, is there anything that has not been discussed in this interview about Therma Bright that you would like to share with us?
Therma Bright: We expect consistent news flow with both CoviSafe™ and our consumer products over the next quarter. Our stock has settled back to a reasonable level and this could very well be an excellent entry point for investors looking to invest in our Company. We look forward to some exciting news flow in the near future.
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