Zeltiq Aesthetics

Zeltiq
Public
Traded as ZLTQ
Industry Cryolipolysis
Founded 2005
Founder Mitchell Levinson
Headquarters Pleasanton, California, United States
Key people
 Mark J. Foley, President and Chief Executive Officer
Products CoolSculpting Procedure
Revenue $111.6 million (2013)[1]
Website www.coolsculpting.com/about-zeltiq/

ZELTIQ Aesthetics is a public company based in Pleasanton, California that markets and licenses the CoolSculpting cryolipolysis procedure. The company holds the largest market share for non-invasive fat reduction procedures. Its sole product, CoolSCulpting, is "the main Cryolipolysis device available in the market".[1][2] The company was founded in 2005 and raised $75 million in funding before going public in 2011. Its CoolSculpting procedure was approved by the Food and Drug Administration for "body-sculpting" on the flanks (sides) in 2010, stomach fat in 2012 and thighs in 2014.

History

ZELTIQ was founded in 2005[3][4] by Mitch Levinson[5] as Juniper Medical Systems.[6] It was originally a healthcare-focused division of a wireless technology holding company, Juniper Group.[7] The company changed its name to ZELTIQ in July 2007.[8]

ZELTIQ's CoolSculpting procedure was invented by Dieter Manstein from the Massachusetts General Hospital and Rox Anderson, from Harvard Medical School.[9][10] An early prototype was created to advance cryolipolysis studies being done on pigs in 2008.[11][12] The device underwent clinical trials later that year,[13] and an exclusive license was awarded to ZELTIQ to commercialize the technology.[10][14]

In 2009 Gordie Nye was appointed CEO, replacing founder Levinson, who remained on the board.[5][15] By this time, CoolSculpting had already been approved by the Food and Drug Administration for cooling skin before dermatological procedures and other uses, but had not yet been approved for killing fat cells.[16] ZELTIQ waited for FDA approval before marketing the device,[17] however a growing number of doctors were using it off-label for "body-sculpting" procedures.[18] By 2010, the company had raised $50 million in financing over three rounds of funding.[4][19] An additional $25 million in funding was raised in June 2010.[20]

The company's CoolSculpting procedure was approved by the Food and Drug Administration for flanks (sides) in September 2010[21] and for stomach fat in 2012.[21] It has also been approved by Health Canada and the European Union.[22] By late 2010 CoolSculpting had been introduced as a body-sculpting procedure in Europe, Asia and Canada.[14] By 2011 ZELTIQ was approved to market the procedure in 46 countries.[23]

CoolSculpting became popular in the United States around 2011.[21] In the first half of that year, ZELTIQ's revenues grew four-fold to $31.6 million, though it was still operating at a small loss.[3][23] ZELTIQ filed for an initial public offering later that year.[3][23] The IPO raised $91 million.[24]

By January 2012, there had been 150,000 CoolSculpting treatments.[25] In 2014, ZELTIQ introduced a new model of the CoolSculpting device that didn't use a suction cup and was cleared by the FDA for use on thighs.[26][27]

CoolSculpting

Main article: Cryolipolysis

CoolSculpting is a noninvasive body sculpting procedure.[28] It is based on cryolipolysis,[29] a method of controlled cold exposure that causes an inflammatory response in fat cells, resulting in gradual cell death and consumption by macrophages, without causing damage to other tissues.[30] It is intended for body contouring and not general weight loss. As of 2013, clinical trials have found that Cryolipolysis is moderately effective and has mostly mild and temporary side-effects.[31]

ZELTIQ's revenues come from selling CoolSculpting equipment and from a fee doctors pay for each treatment they perform.[20][23] It is the company's sole product[32] and the main brand used for Cryolipolysis.[1][2] The CoolSculpting treatment process involves a fatty area of the body being sucked into a suction cup-type device and cooled.[33][34] Different shapes of suction cup and different programming in the machine are used for different areas of the body.[35] Typically an individual treatment lasts one hour for each part of the body being treated and involves two treatments, eight weeks apart. The number and duration of treatments vary.[21]

References

  1. 1 2 3 Coppola, Gabrielle (September 29, 2014). "Manhattan Analysts Lose Belly Fat". Bloomberg. Retrieved September 28, 2014.
  2. 1 2 Kabir Sarbana; Vijay K. Garg (July 1, 2014). Lasers in Dermatological Practice. JP Medical Ltd. p. 356. ISBN 978-93-5152-300-0.
  3. 1 2 3 Avalos, George (July 13, 2014). "Pleasanton-based Zeltiq files for $115 million IPO". San Jose Mercury News. Retrieved September 16, 2014.
  4. 1 2 Martino, Maureen (June 3, 2010). "Zeltiq raises $25M for fat-reduction tech". FierceMedicalDevices. Retrieved September 28, 2014.
  5. 1 2 Brown, Steven (September 29, 2009). "Zeltiq Aesthetics changes CEOs". San Francisco Business Times. Retrieved January 28, 2015.
  6. ↑ Hay, Timothy (July 14, 2011). "Medical Device Co. Zeltiq Aesthetics Files Plans For IPO". VentureWire.
  7. ↑ "PartnerCare enters strategic alliance with Synergy". Long Island Business News. October 16, 1998. pp. 7B.
  8. ↑ ZELTIQ Aesthetics, Inc.; Yahoo Profile, Yahoo, retrieved January 28, 2015
  9. ↑ Kron, Joan (May 2008). "The New Fat-Blaster". Allure.
  10. 1 2 Jancin, Bruce (April 2009). "Cryolipolysis on Track to Become First Cool Way to Remove Cellulite". Skin & Allergy News. 40. p. 11.
  11. ↑ Mathew Avram (March 9, 2015). Fat Removal: Invasive and Non-invasive Body Contouring. John Wiley & Sons. ISBN 978-1-4443-3428-9.
  12. ↑ Coleman, Sydney R.; Sachdeva, Kulveen; Egbert, Barbara M.; Preciado, Jessica; Allison, John (2009). "Clinical Efficacy of Noninvasive Cryolipolysis and Its Effects on Peripheral Nerves". Aesthetic Plastic Surgery. 33 (4): 482–488. doi:10.1007/s00266-008-9286-8. ISSN 0364-216X.
  13. ↑ Dobson, Roger (November 25, 2008). "Forget lipo -- just freeze out the flab". The Daily Mail.
  14. 1 2 Lee, Jenny (August 23, 2010). "Lose those love handles". The Vancouver Sun. Retrieved September 28, 2014.
  15. ↑ "Diary:Movers and Shakers". Chemistry & Industry. November 9, 2009.
  16. ↑ Weintraub, Karen (March 29, 2010). "Who might be a candidate?". The Boston Globe.
  17. ↑
  18. ↑ Louis, Catherine (June 30, 2010). "Beauty Spots". The New York Times. Retrieved January 28, 2015.
  19. ↑ Konish, Lorie (October 2, 2009). "Prism's Nye To Use New CEO Role To Boost Zeltiq's Series D Push". VentureWire.
  20. 1 2 Gormley, Brian (June 3, 2010). "Zeltiq Snaps Up $25M Series D For Cosmetic Fat Reduction". VentureWire.
  21. 1 2 3 4 Stevens, W. G.; Pietrzak, L. K.; Spring, M. A. (2013). "Broad Overview of a Clinical and Commercial Experience With CoolSculpting". Aesthetic Surgery Journal. 33 (6): 835–846. doi:10.1177/1090820X13494757. ISSN 1090-820X.
  22. ↑ Boey, Gerald E.; Wasilenchuk, Jennifer L. (2014). "Enhanced clinical outcome with manual massage following cryolipolysis treatment: A 4-month study of safety and efficacy". Lasers in Surgery and Medicine. 46 (1): 20–26. doi:10.1002/lsm.22209. ISSN 0196-8092.
  23. 1 2 3 4 Cowan, Lynn (October 10, 2011). "Zeltiq Is Next Week's IPO". Wall Street Journal. Retrieved January 28, 2015.
  24. ↑ Spears, Lee (October 19, 2011). "Zeltiq Aesthetics Raises $91 Million in Initial Public Offering". Bloomberg. Retrieved September 28, 2014.
  25. ↑ Uken, Cindy (January 11, 2012). "Non-invasive procedure popular method to get rid of unwanted 'love handles'". The Billings Gazettte. pp. C1. Retrieved September 28, 2014.
  26. ↑ Stahl, Stephanie (May 27, 2014 1). "Health: Procedure Now Approved To Melt Fat Off Thighs". CBS News. Retrieved October 11, 2014. Check date values in: |date= (help)
  27. ↑ Leuty, Ron (April 14, 2014). "Hot on 'cool' thighs, Zeltiq wins FDA clearance for fat-chilling procedure". BizJournals. Retrieved October 7, 2014.
  28. ↑ Rubin, Rita (September 30, 2010). "High-tech 'fat blasters' promise results with no surgery". USA Today. Retrieved September 28, 2014.
  29. ↑ Marc R. Avram (March 1, 2014). Lasers and Light Source Treatment for the Skin. JP Medical Ltd. p. 167. ISBN 978-93-5090-995-9.
  30. ↑ Avram, Mathew M.; Harry, Rosemary S. (2009). "Cryolipolysis™ for subcutaneous fat layer reduction". Lasers in Surgery and Medicine. 41 (10): 703–708. doi:10.1002/lsm.20864. ISSN 0196-8092.
  31. ↑ H. Ray Jalian & Mathew M. Avram (March 2013). "Cryolipolysis: a historical perspective and current clinical practice". Seminars in cutaneous medicine and surgery. 32 (1): 31–34. PMID 24049927.
  32. ↑ Cowan, Lynn (October 19, 2011). "Zeltiq Aesthetics Closes Up 19.2% After IPO". VentureWire.
  33. ↑ Fulmer, Melinda (August 16, 2013). "With cosmetic treatments, more men enlist in battle of the bulges". Los Angeles Times. Retrieved October 11, 2014.
  34. ↑ Woolston, Chris (November 8, 2010). "Freezing fat might shrink it". Los Angeles Times. Retrieved September 26, 2014.
  35. ↑ Gordon, Jennifer (February 18, 2013). "Fat-freezing device may bring gradual results". St. Joseph News.
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