Therma Bright Inc. (OTC: TBRIF), an emerging player in the healthcare sector, is making significant progress with its diverse range of medical devices and diagnostic solutions aimed at addressing unmet clinical needs. The company's flagship product, the Venowave VW5, is a circulation booster designed to mitigate deep vein thrombosis (DVT), capitalizing on a treatment market projected to grow to $1.62 billion by 2032. This year, Therma Bright achieved several milestones that highlight its growing industry influence.
The Venowave VW5 is an FDA-approved device aimed at improving blood circulation in the lower extremities. Designed to be worn on the calf, the lightweight device uses wave-like motions to stimulate blood flow, thereby preventing blood clots. This is crucial for conditions like DVT, which affects up to 900,000 people in the U.S. annually and can lead to severe complications if untreated. Additionally, the Venowave can manage post-thrombotic syndrome symptoms, prevent primary thrombosis, and treat lymphedema.
In a noteworthy development, Therma Bright announced on August 27 that it had secured a nationwide U.S. distribution partner for the Venowave. Subject to the success of an initial sales program, this partner has committed to acquiring inventory valued at $2.38 million. Moreover, in August, the Venowave received a permanent Healthcare Common Procedure Coding System (HCPCS) code from the U.S. Department of Health & Human Services' Centers for Medicare and Medicaid Services (CMS). This critical designation enhances the product's credibility and could serve as a catalyst for Therma Bright to secure a leadership position in the DVT treatment market.
Therma Bright is also making headway in the stroke treatment arena with its investment in Inretio, the developer of the Preva® clot-retrieval device. The global coronary stents market was estimated at $8.82 billion in 2022 and is expected to reach $16.14 billion by 2030. The Preva® device aims to revolutionize ischemic stroke treatment by increasing efficacy and reducing complications during thrombectomy procedures. The technology recently completed its third successful human trial, offering a new approach to clot retrieval that minimizes the need for repeated maneuvers and reduces the risk of embolization. With more than 690,000 ischemic stroke patients in the U.S. annually, this device could significantly improve treatment outcomes.
Further expanding its portfolio, Therma Bright has increased its investment in InStatin, a company developing inhaled statin therapies for respiratory conditions like asthma and chronic obstructive pulmonary disease (COPD). Targeting the lungs directly, InStatin aims to provide more effective treatment options for a range of respiratory ailments. With the COPD market alone valued at over $16 billion annually, Therma Bright stands to benefit from InStatin's growth.
Therma Bright's innovation pipeline includes other promising products like a Digital Cough Test app developed with AI4LYF, which uses AI to monitor respiratory diseases based on cough sounds. Other notable products are the Benepod™ Hot & Cold Contrast Therapy Device for Pain Relief, the AcuVid™ COVID-19 Rapid Antigen Test Solution, InterceptCS™ for at-home cold sore prevention, and the TherOZap™ thermal therapy for insect bite relief.
With the global DVT market projected to reach $1.5 billion by 2032 and other innovations like the Preva® device and inhaled statins addressing multi-billion-dollar markets, Therma Bright is well-positioned to capture significant market share. Investors may want to keep an eye on this small company, with a current market cap of about $20 million and a stock that has rallied over 350% this year as of September 5, as it continues to expand its presence in lucrative healthcare sectors.
