Venus Concept (NSDQ:VERO) announced today that it won CE Mark and Health Canada approval for its Venus Epileve device for hair removal, reduction and more.
The Epileve is intended to treat hirsutism (male-pattern hair growth in women), permanent hair reduction and pseudofolliculitis barbae (condition in which shaving causes inflammation and bumps to develop on the skin) in Europe. The system is intended for hair removal, permanent hair reduction and treating pseudofolliculitis barbae in Canada.
Venus Epileve is an expansion of Venus Concept’s diode laser hair removal platform, following the Venus Velocity, which was released in 2017. Epileve is a portable tabletop device designed for compatibility with all skin types. It has a real-time cooling system for patient safety and comfort, while its integration with Internet of Things (IoT) technology helps collect information to enhance efficiency.
“The receipt of CE Mark and Health Canada authorization for our new laser hair removal solution, the Venus Epileve represents another example of Venus Concept’s ability to introduce new and innovative solutions designed specifically for the non-traditional aesthetics market,” Venus Concept CEO & director Domenic Serafino said in a news release.
“Building on the success of the Venus Velocity, we designed the Venus Epileve as a cost-effective laser hair removal solution for customers outside of the medical aesthetics market. We are preparing for a limited launch of the Venus Epileve in Europe and Canada beginning in the second quarter of 2020 with the full launch targeted for the second half of 2020. We look forward to the commercial expansion of Venus Epileve in these markets contributing to our solid growth profile next year and we expect our expanded portfolio of laser hair removal solutions will help us further penetrate the $1.4 billion global hair removal market in the years to come.”
Last month, Venus Concept entered into a merger agreement with Restoration Robotics (NSDQ:HAIR), which produces the Artas and Artas iX robotic hair restoration systems. Artas iX won CE Mark in August.