GET A PIECE OF FISHER WALLACE LABORATORIES
Prescription Wearables For Mental Health
$517,329.06 Raised
Offering Circular | Selected Risks Related to this Offering | SEC EDGAR Page
REASONS TO INVEST
- The company has demonstrated product-market-fit by distributing 100,000 Version 1.0 devices via 14,000 prescribers (over $40M in lifetime revenue) and is nearing completion of its Version 2.0 device, OAK.
- The company completed a large clinical trial using its Version 2.0 technology in pursuit of FDA approval, and a CE Mark (EU/UK), for the treatment of depression, and has partnered on an anxiety study with the Seattle Police Department.
- The depression treatment market is large and growing, and currently lacks solutions that are simultaneously fast-acting, self-administered, affordable out-of-pocket, and free of serious side effects.
Overview
Better Mental Healthcare
*OAK (Version 2) is currently under development and not yet available on the market.
Fisher Wallace is an R&D stage medical device company that has developed wearable brain stimulation technology that comfortably stimulates the brain to treat common mental health conditions without causing serious side effects.
Under temporary clearance from the FDA, Fisher Wallace distributed over 100,000 proof-of-concept devices to patients via 14,000 prescribers, and is now applying for FDA approval for the treatment of depression. With the temporary clearance expiring, Fisher Wallace now has until March 1, 2024 to fulfill the requirements for premarket approval to treat depression with its new transcranial alternating current stimulation (tACS) technology.
As part of its application, the company recently submitted the results of a 255-subject, triple-blind, randomized, controlled trial that used its fixed output device, and is in the process of submitting the results for publication in a peer-reviewed journal. The company’s previous depression research includes a pilot study conducted at Mount Sinai Beth Israel Hospital that was published in the Journal of Nervous and Mental Disease. (source)
In 2022, the company sponsored a first responder study in collaboration with the Seattle Police Department and Washington State University to improve the mental health and wellness of first responders. The results of this study, expected by Q2 2023, are intended to support scaling the company’s solution to first responder communities nationwide.
The company is nearing completion of OAK, the mass market version of its fixed output technology, in collaboration with the engineers and designers behind Beats, Nest and the Microsoft Hololens. OAK is designed to inherit any regulatory approvals or clearances that may result from our clinical research. With world-class design and scientific validation, OAK is intended to appeal to millions of people seeking a better way to improve mental health and wellness.
THE MARKET
Depression, anxiety and insomnia are at scale
*People who have depression and anxiety symptoms estimated based on 2021 survey conducted by the National Institutes of Health (source). Additional sources: CBS, NIH
Nearly one-third of US adults report experiencing symptoms of depression or anxiety. (source) According to the CDC, 70 million Americans suffer from chronic sleep deprivation (source).
THE PROBLEM
Delayed treatment effect, side effects, modest efficacy, and high administrative costs make drug therapy and behavioral therapy insufficient solutions
Antidepressants often take many weeks to be effective (source), cause a wide range of side effects, and even in generic form are expensive when the cost of doctor visits is included.
The average cost of behavioral therapy is $100 - $200 per session (source) and as many as half of patients fail to complete the “homework” associated with behavioral therapy that’s needed to experience results (source). While these standards of care help millions of patients every year, millions more are in need of safe and effective alternatives and adjuncts.
THE SOLUTION
Self-administered technology that’s rapidly effective with minimal side effects
Our clinical trial evidence demonstrates that our technology rapidly improves depression symptoms without causing serious side effects when used daily for 20 minutes per treatment session. 77.4% of surveyed customers intend to use their Fisher Wallace device for the rest of their lives to maintain mental health and cognitive performance.
*OAK (Version 2) is currently under development and not yet available on the market.
OUR TRACTION
Proven product-market fit and scalability
Under temporary FDA clearance, Fisher Wallace succeeded in distributing over 100,000 variable output devices through 14,000 providers and was named one of five “Health-Tech Start-Ups to Watch” by Entrepreneur magazine.
The company’s ongoing clinical research with its new fixed output technology is designed to both obtain new FDA indications as well as enable the company to obtain insurance coverage once commercialized. Medicaid in Maine (MaineCare) was the first state Medicaid program to fully cover the purchase of Fisher Wallace’s variable output technology.
*OAK (Version 2) is currently under development and not yet available on the market.
WHY INVEST
Join us as we disrupt the mental health industry
*OAK (Version 2) is currently under development and not yet available on the market.
Our team is uniquely prepared to bring a refreshing vision of mental healthcare to life. We believe we possess the technology, skills, and timing required to successfully build and scale our solution. Become a shareholder in Fisher Wallace as we disrupt the status quo to better serve tens of millions of patients.
THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE
CROWDCHECK VERIFIED REPORT CAN BE FOUND HERE.
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.
ABOUT
HEADQUARTERS
630 Flushing Avenue, Box 84
Brooklyn, NY 11206
WEBSITE
View Site
Fisher Wallace Labs makes wearable brain stimulation technology that has been prescribed by over 14,000 providers to treat mental health conditions. The company is pursuing FDA approval and building a Version 2.0 device called OAK.
TEAM
Kelly Roman
Co-Founder, CEO, and Director
Charles "Chip" Fisher
Co-Founder & Chairman & Director
Simon Webster
Board Member
TERMS
Fisher Wallace Laboratories
Overview
PRICE PER SHARE
$10.67
DEADLINE
Aug 11, 2023
VALUATION
$100.28M
FUNDING GOAL
$192.06 - $10M
Breakdown
MIN INVESTMENT
$192.06
MAX INVESTMENT
$999,992.40
MIN NUMBER OF SHARES OFFERED
18
MAX NUMBER OF SHARES OFFERED
937,207
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Class B Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
Loyalty Bonus
Investors who have previously invested in the company receive 5% bonus shares of the company’s Common Stock.
Amount-Based Bonus
Tier 1 | $1,500+
Invest $1,500+ and receive 2% bonus shares.
Tier 2 | $5,000+
Invest $5,000+ and receive 5% bonus shares.
Tier 3 | $10,000+
Invest $10,000+ and receive 10% bonus shares.
Tier 4 | $25,000+
Invest $25,000+ and receive 15% bonus shares.
The 10% StartEngine Owners' Bonus
Fisher Wallace Laboratories, 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 Class B Common Stock at $10.67 / share, you will receive 110 shares of Class B Common Stock, meaning you'll own 110 shares for $1,067. 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 canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and Loyalty Bonus in addition to the aforementioned bonus.
ALL UPDATES
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
REWARDS
JOIN THE DISCUSSION
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W Kim Colich
2 months ago
Hi Kelly, I invested in 2020 and again last year. I was considering again, but have some questions...
When you started this campaign in March, you had a VALUATION of $83.08M and the Campaign DEADLINE was Feb 25, 2024 and the minimum investment was $490.82. Now I see you are ending the campaign on Aug 11, 2023 (over 6 months earlier) and your VALUATION has increased to $100.28M (a hefty 25% increase), but the minimum investment is now only $192.06. I certainly applaud lowering the minimum investment amount, but what is driving these other changes? Did those who invested during the first month or so get in at an $83M valuation and those investing now are getting in at $100M. Why would that be - what changed? Your share price and maximum target for this raise remain unchanged... What's going on? Please advise. Thanks for clarifying. Blessings
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Chet Karnas
3 months ago
I invested $1,500.00 through StartEngine. How do I obtain my coupon for the new OAK device? I previously purchased the original device.
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Jacob J Jessop
3 months ago
Hey I invested 1500 into your company about a year ago and still haven't received my promised device and have not received an update please contact me and give me a update you can reach me at jacobjessop16@Gmail.com thank you.
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Diana Ensor
3 months ago
To hear back from you ( in response to the below post) do I need to log back in or could you please email me? I will not remember to log back in! dineyensor@gmail.com
Thank you.
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Diana Ensor
3 months ago
I invested $1500 thinking that I would receive a free unit. Either I have not received any notification about receiving such or whatever notification I did receive I did not understand. Can you please spell out in simple terms what I get for my $1500 investment. Thank you!
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MIKE RAST
3 months ago
I am an investor, investing the required $1500 to receive the unit. I have not received my unit!
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Richard Eilert
3 months ago
I have not been able to stay in touch with my Start The Engine investments because managing my personal portfolio takes all of my daily time. could someone there be kind enough to bring me update on all my investments with start the engine-Please! I would uppriciated verimuch. My # 760-224-6063 Thank You.
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Sharon Stellingworth
3 months ago
As an investor in your company what makes you better than Trubrain? The product seems the same although they seem further ahead in designs.
Sharon S.
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Victoria Loudis
3 months ago
I too invested $1500 and haven't seen any thing about a free unit...
Victoria Loudis
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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John Cranford
2 months ago
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