P&G Ventures -- Press Release
P&G Ventures, the early stage startup studio within P&G (NYSE:PG), has announced the four finalists for the third annual P&G Ventures CES Innovation Challenge.
Overview
We are developing an OTC medical device that uses light therapy to deliver temporary drug-free relief of allergy symptoms. Unlike traditional approaches, our technology is entirely drug-free and easy to use, working quickly to relieve the inflammation that causes allergy symptoms and ultimately improving allergy sufferers’ quality of life.
We are preparing for our final clinical trial during the upcoming fall ragweed season. We plan to submit a De Novo petition to the FDA later in 2021.
The Problem
More than 50+ million Americans suffer from allergies. Of those afflicted with nasal allergies, more than 66% are dissatisfied with their current allergy medications, reporting bothersome side effects, that the medications don’t work long or fast enough, and that they don’t treat the symptoms.
* Source
Allergy symptoms can also lead to an impaired quality of life because of factors such disturbed sleep, fatigue, decline in cognitive processing, degraded memory, and depression. Overall, allergy symptoms lead to an estimated $18 billion worth of indirect costs in lost productivity and absenteeism.
We believe the problem is only made worse by climate change, with longer and more intense allergy seasons causing prolonged suffering for more people.
Currently available allergy medications can cause unpleasant side effects:
In addition, a large number of people should not be taking allergy medications due to pre-existing conditions.
As a result, many of today’s consumers are actively seeking alternative therapies to live less toxic lives. For those seeking non-drug solutions, there has been no single natural remedy that can provide efficient symptom relief in one convenient treatment.
The Solution
Fluo Labs is pioneering photobiomodulation, a form of light therapy, to temporarily reduce the symptoms of seasonal allergies in a drug-free manner.
Photobiomodulation is commonly used in the medical community to relieve pain, reduce inflammation, heal wounds and regenerate tissue. In the case of nasal allergies, the Fluo’s precisely engineered light structure is designed to reduce the inflammation caused by allergens, therefore reducing the miserable nasal symptoms. In this way, the device is designed to act as a natural, drug-free antihistamine.
Our premarket clinical stage medical device is being developed as an OTC alternative to traditional allergy medications by using drug-free technology that tackles common allergy symptoms like congestion, runny nose, itchy nose and sneezing.
Our scientists are engineering the proper therapeutic balance of wavelength, dosage, power and pulse structure to effectively contain and ultimately terminate immune and inflammatory responses and thus reduce inflammation.
The Fluo device is designed to be easy and fast to use with a treatment that takes less than 30 seconds. Here’s how our prototype currently works:
We are also launching a community marketing initiative under the Seize the Sneeze ™ banner to capture consumer insights on their personal experience with allergies.
The Market
In 2017, allergy relief is a $24 billion global market and expected to grow beyond $40 billion by 2025 with a CAGR of 6.3%.
Currently, individuals suffering from moderate allergies spend an average of $650 per year on symptom relief, even though the majority (66%) report dissatisfaction with their current allergy medications.
Yet, there has been little incentive to innovate and develop better OTC allergy treatments in the past 30 years because existing medications are considered to “do a decent job”.
Fluo Labs is bringing a novel and modern solution to this neglected space
In what we believe is another classic tale of disruption, we are developing an entirely new category in allergy care. It’s a complete departure from the conventional allergy relief protocols.
Our premarket clinical device is being developed as an OTC consumer product that is a drug-free alternative to antihistamines and corticosteroids.
Our Traction
Patented Technology, Promising Partnerships, and More
Fluo Labs has already achieved multiple significant milestones, including:
* Source: Evaluating approved medications to treat allergic rhinitis in the United States: an evidence-based review of efficacy for nasal symptoms by class. Benninger M, Farrar JR, Blaiss M, Chipps B, Ferguson B, Krouse J, Marple B, Storms W, Kaliner M. Ann Allergy Asthma Immunol. 2010 Jan;104(1):13-29.
Why Invest
The global allergy treatment market represents a huge market opportunity expected to hit $40 billion in 2025.
Beyond this opportunity, we’re also on a mission to improve the quality of life of millions of allergy sufferers around the globe. Seasonal allergies aren’t going away and their symptoms increasingly cause massive physical, economic and social struggles for allergy sufferers. We see it as our duty to bring our drug-free treatment to market as soon as we can so that people with allergies can quickly get back to functioning at their best.
We are ready to help millions of people Seize the Sneeze. Join us!
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
P&G Ventures, the early stage startup studio within P&G (NYSE:PG), has announced the four finalists for the third annual P&G Ventures CES Innovation Challenge.
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Company | : | Fluo Labs, Inc. |
Corporate Address | : | 1479 Glencrest Dr. #A, San Marcos, CA 92078 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $3,800,000.00 |
Minimum Investment Amount(per investor) | : | $250.00 |
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 10,000 |
Maximum Number of Shares Offered | : | 3,800,000 |
Price per Share | : | $1.00 |
Pre-Money Valuation | : | $12,000,000.00 |
Early Bird
Friends and Family – first 7 days | 10% bonus shares
Early Bird – next 7 days | 8% bonus shares
Volume
Tier 1 perk - ($5,000+ 12% bonus shares)
Tier 2 perk - ($10,000+ 15% bonus shares)
The 10% StartEngine Owners' Bonus
Fluo Labs, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.00 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
*All perks occur when the offering is completed.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
To our would-be investors and followers,
You should have received a notice from Start Engine on October 21, 2021, informing you of our decision to terminate our equity crowdfunding campaign. The notice was sent to all investors informing them that all funds contributed for the purchase of Fluo Labs equity will be returned to you within 10 days without any holdbacks or fees.
We'd like to thank each of you for believing in the promise of our product as shown with your pledge. We would like to hear from you, and know that you have indeed been made whole with the return of your funds. For that or for any other questions, I invite you to communicate with me at lej@fluolabs.care.
We hope you will stay in touch. Please do not hesitate to reach out at any point.
In the meanwhile, we are moving ahead with our vision of developing a technology to help allergy sufferers to alleviate their symptoms of seasonal allergies without having to use drugs.
Only the very best to each of you,
Lawrence Johnson, CEO
A few months ago, we sent out a survey to our dedicated community members and some helpful folks over at Surveymonkey. Why? To help us get a closer, more personal look at life with seasonal allergies is really like. And the results were eye-opening! To see what the survey-takers had to say, head here to read our breakdown of the results on our blog!
We recently had a Q&A for all your allergy FAQs with Dr. Ed Lisberg, where we dug deeper into topics like dosage importance and immunotherapy side-effects, and we sure did learn a lot! If you missed the event, we’ve got some good news for you - we’ve compiled some of the most interesting questions into the short highlight reel below! Watch to learn more!
Ragweed: a plant in the daisy family whose small, lightweight grains of pollen can travel far and wide, or as we like to call it, a major bummer to our end-of-summer plans!
CAUTION ⚠️ Ragweed season is upon us and can last all the way through mid-October! We’ve got a while to go before our noses are in the clear! Ragweed 🌿 season is arguably one of the most annoying times for a person with seasonal allergies. As the most common trigger for hay fever, Ragweed is sure to start trouble for a whole lot of noses out there! 🤧
To read more about Ragweed and the havoc it wreaks click here.
Believe it or not, we weren't always in the business of tackling seasonal allergies. The first chapter of our light therapy journey started when we set out to create a cosmetic application device that was intended for cosmetic use. Once that enterprise was sold, our team began pouring into the fundamental research surrounding light therapy's use for seasonal allergies. Initial studies were run with unwieldy machines operated by clinical technicians. While the results proved to be significant in improving allergy symptoms, the technology was not ready for primetime. Our team, however, wanted to advance the technology and adapt it into a handheld device that was just as efficient and safe to use, as needed, in the comfort of one's home. In any case, our interest in this application of light therapy only got stronger when we started digging deeper into just how debilitating nasal allergies are for the 50+ million Americans who suffer from them. The more we learned, the more we realized this massive problem needed a new, better solution!
By that point, we committed to developing our technology to address the growing problem of seasonal allergies with a drug-free, effective alternative to traditional allergy meds. And getting it right was a lot harder than it sounds. Our scientists needed to research properties like wavelength, fluence, power density, pulse structure, timing, distance, coherence, beam profile, and spectral width. It's a mouthful, we know, but finding this precise balance was crucial to the effectiveness of our treatment. And after years of dedicated research, our scientists finally engineered the patented formula we have today!
Still, there are many other complicated and time-consuming steps for us to complete. As a science-driven company, we need our technology to be both effective and trusted by consumers. To do that, we're currently taking part in extensive research and testing, acquiring patents, conducting clinical trials, and completing the complex but necessary steps of securing FDA approval. As a driven and passionate team, we've got exactly what it takes to accomplish our mission of bringing allergy relief to millions!
Last week you got to see a working prototype of our device. Getting to that stage, though, took a lot of careful planning. In today's world, design is an integral part of launching a successful product. According to this article by the Harvard Business Review, companies that employ a design strategy grow faster and have higher margins than their competitors.
A finding that shows that superior design drives superior returns is incentive enough to dedicate efforts to the aesthetics of our device and its packaging, but for us, it was about more than just that. Beautiful and appealing designs can break the ice and help consumers introduce and adopt a new technology, which was exactly what we needed.
We knew that our product had to be an approachable new technology - it couldn't feel mechanical or intimidating. At the same time, though, we didn't want to blend in. Instead, our product needed to stand out from other offerings in our product category. Our strategy involved using satisfying-to-hold organic shapes that are both familiar and dynamic while also being so streamlined that using the technology would be instinctively easy. We worked with Spitfire Industry, a boutique design firm that expertly straddled the delicate balance of our specific wants and needs.
Our design strategy was crafted to gain the attention of early adopters and word-of-mouth influencers who will form the core of our early customer base. This group doesn't settle for generic design, so we are appealing to them with a strong design aesthetic. The care taken around our visual design should also reflect the care we have also taken with the quality and performance of our technology.
We've still got some tweaking to do before our device is at its final stage (the image you see is that of a working prototype), but just looking at its bright, electric colors and dynamic shapes fills us with excitement and anticipation for how it will be received by its end users.
We are thrilled to announce our partnership with a leading global life sciences company. The partnership champions Fluo Labs’ vision to bring its technology to a global stage. Its financial component will help Fluo Labs fulfill its mission to improve the quality of life for millions of allergy sufferers across the globe. Of even greater value is our partner’s support and leadership in regulatory, marketing and commercialization matters which will help Fluo Labs accelerate its plans to bring innovation to the fast-growing respiratory care category on a global scale.
Please note that under our agreement, we have agreed not to identify our partner at this time as parties work diligently to establish the next phases of our partnership.
If you haven’t registered for our event already, don’t worry! There’s still time to save your spot for our chat with Dr. Lisberg on August 10th at 1 PM EST (10 AM PST). Just click the link below and you’ll get all the information you need to join us! We hope to (virtually) see you there!
Link to join: https://bit.ly/2WRUh6B
Hi all!!
We’ve just hit another fun milestone in our product development and testing phases: the working prototype of the device and the proto-packaging are done!
As consumers, we don’t really recognize the effort that goes into product packaging, especially if said product needs to comply with FDA labeling requirements. Take the obligatory user manual for instance. It’s easy to disregard all the boring smallprint but it’s required to be in there.
Let’s just say that there’s more to it than meets the eye and we’re proud to have created packaging that complies with regulatory obligations and still allows our brand to shine through and differentiate us from typical medical products. There is still lots of tweaking to do, but we’re quite pleased with how everything looks so far.
The device that you see in the images below is a 3D printed working prototype which means that the device itself is functional but the design is not final. For the product packaging, the brilliant folks at Kaleidoscope produced 10 hand-assembled prototype boxes, each configured to house a device, charging cable, carrying case, quick how-to guide, a user manual and proper labeling throughout.
These prototypes are now on their way to the Human Factors study, a necessary step towards an FDA accreditation. This study centers around how a typical user will interact with the device to ensure that the design, labeling, instructions and packaging properly explain how to effectively and safely use the device. Here are more details about the Human Factors evaluation.
Stay on the lookout for updates on the subject! 😉
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