This round is no longer accepting investments, but hundreds just like it are live now.

Log In

GET A PIECE OF FISHER WALLACE LABORATORIES

Prescription Wearables For Mental Health

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.

This Reg A+ offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

$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: CBSNIH


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

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

Kelly Roman

Co-Founder, CEO, and Director

For more than a decade, Kelly Roman has helped pioneer the prescription wearable category and has expertise in product development, regulatory affairs, healthcare marketing and clinical trial strategy. Prior to co-founding Fisher Wallace, Kelly graduated from Harvard and served as an award-winning executive in the digital advertising and SaaS industries. He recently served on the boards of two charter high schools in New York City.

Charles "Chip" Fisher

Charles "Chip" Fisher

Co-Founder & Chairman & Director

Charles “Chip” Fisher grew up in the electronics business - his father, Avery Fisher, founded Fisher Radio (later renamed Fisher Electronics). After graduating from Harvard and serving as a sales executive at IBM, Chip acquired the original intellectual property to the Fisher Wallace Stimulator and is the company’s CFO and largest shareholder - and a recent TEDx contributor.

Simon Webster

Simon Webster

Board Member

Simon is CEO of SHUFL Capital, the venture capital firm that recently invested in Fisher Wallace Laboratories. Simon's early career was spent in the UK financial services sector leading business change, delivering technology transformations and supporting M&A transactions. He led CPA Global on its 20 year journey from a £50m business to its recent public market entry at a value of £6.5bn. Simon has been investing in and working with founders of growth businesses in the SHUFL sectors since 2010.

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

Owners bonus
Stack Owner's Bonus & Rewards!

Members get an extra 10% shares in addition to rewards below!

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Fisher Wallace Laboratories.

JOIN THE DISCUSSION

0/2500

JC
John Cranford

2 months ago

\\\\

0

0

WC
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

1

1













CK
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.

8

0













JJ
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.

1

0













DE
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.

1

0













DE
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!

1

0













MR
MIKE RAST

3 months ago

I am an investor, investing the required $1500 to receive the unit. I have not received my unit!

1

0













RE
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.

1

0













SS
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.

0

0

VL
Victoria Loudis

3 months ago

I too invested $1500 and haven't seen any thing about a free unit... Victoria Loudis

1

0













HOW INVESTING WORKS

Cancel anytime before 48 hours before a rolling close or the offering end date.

WHY STARTENGINE?

REWARDS

We want you to succeed and get the most out of your money by offering rewards and memberships!

SECURE

Your info is your info. We take pride in keeping it that way!

DIVERSE INVESTMENTS

Invest in over 200 start-ups and collectibles!

With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.

With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.

At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.

Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.

StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.

For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.

For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.

Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.

Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.

Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.

PREVIOUSLY CROWDFUNDED
$8,322,178.72
RAISED
$517,329.06
INVESTORS
506
MIN INVEST
$192.06
VALUATION
$100.28M

Get To Know Us

Our Team

Careers

Blog

Important Message

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. INVESTMENTS ON STARTENGINE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.

www.StartEngine.com is a website owned and operated by StartEngine Crowdfunding, Inc. (“StartEngine”), which is neither a registered broker-dealer, investment advisor nor funding portal.
Unless indicated otherwise with respect to a particular issuer, all securities-related activity is conducted by regulated affiliates of StartEngine: StartEngine Capital, LLC, a funding portal registered here with the US Securities and Exchange Commission (SEC) and here as a member of the Financial Industry Regulatory Authority (FINRA), or StartEngine Primary, LLC, a broker-dealer registered with the SEC and FINRASIPC . You can review the background of our broker-dealer and our investment professionals on FINRA’s BrokerCheck here. StartEngine Secondary is an alternative trading system regulated by the SEC and operated by StartEngine Primary, LLC, a broker dealer registered with the SEC and FINRA. StartEngine Primary, LLC is a member of SIPC and explanatory brochures are available upon request by contacting SIPC at (202) 371-8300.

Investment opportunities posted and accessible through the site are of three types:

1) Regulation A offerings (JOBS Act Title IV; known as Regulation A+), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Primary, LLC (unless otherwise indicated). 2) Regulation D offerings (Rule 506(c)), which are offered only to accredited investors. These offerings are made through StartEngine Primary, LLC. 3) Regulation Crowdfunding offerings (JOBS Act Title III), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Capital, LLC. Some of these offerings are open to the general public, however there are important differences and risks.

Any securities offered on this website have not been recommended or approved by any federal or state securities commission or regulatory authority. StartEngine and its affiliates do not provide any investment advice or recommendation and do not provide any legal or tax advice with respect to any securities. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. StartEngine does not verify the adequacy, accuracy or completeness of any information. Neither StartEngine nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, or completeness of any information on this site or the use of information on this site. See additional general disclosures here.
By accessing this site and any pages on this site, you agree to be bound by our Terms of use and Privacy Policy, as may be amended from time to time without notice or liability.

Canadian Investors Investment opportunities posted and accessible through the site will not be offered to Canadian resident investors. Potential investors are strongly advised to consult their legal, tax and financial advisors before investing. The securities offered on this site are not offered in jurisdictions where public solicitation for offerings is not permitted; it is solely your responsibility to comply with the laws and regulations of your country of residence.

California Investors Only – Do Not Sell My Personal Information

(800-317-2200). StartEngine does not sell personal information. For all customer inquiries, please write to contact@startengine.com.

StartEngine’s Reg A+ offering is made available through StartEngine Crowdfunding, Inc. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view StartEngine’s offering circular and risk associated with this offering.

StartEngine Marketplace

The availability of company information does not indicate that the company has endorsed, supports, or otherwise participates with StartEngine.

None of the information displayed on or downloadable from www.startengine.com (the 'Website') represents a recommendation, offer, or solicitation of an offer to buy or sell any security. It also does not constitute an offer to provide investment advice or service. StartEngine does not (1) make any recommendations or otherwise advise on the merits or advisability of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

All investment opportunities are based on indicated interest from sellers and will need to be confirmed.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks, and you should complete your own independent due diligence regarding the investment. This includes obtaining additional information about the company, opinions, financial projections, and legal or other investment advice. Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment.

StartEngine Marketplace (“SE Marketplace”) is a website operated by StartEngine Primary, LLC (“SE Primary”), a broker-dealer that is registered with the SEC and a member of FINRA and the SIPC. StartEngine Bulletin Board ("SE BB") is a bulletin board platform that advertises interest in shares of private companies that previously executed Reg CF or Reg A offerings. SE BB enables shareholders to communicate interest in potential sales of shares in private companies and investors to discover, review, and potentially invest in private companies. As a bulletin board platform, SE BB provides a venue for investors to access information about private company offerings and connect with potential sellers. SE BB is distinct and separate from StartEngine Secondary (“SE Secondary”), which is an SEC-registered Alternative Trading System (ATS) operated by SE Primary. SE Secondary facilitates the trading of securities by matching orders between buyers and sellers and facilitating executions of trades on the platform. While a security may be displayed on the bulletin board, these securities will be subject to certain restrictions which may prevent the ability to buy and sell these securities in a timely manner, if at all. Even if a security is qualified to be displayed on the bulletin board, there is no guarantee an active trading market for the securities will ever develop, or if developed, be maintained. You should assume that you may not be able to liquidate your investment for some time or be able to pledge these shares as collateral.