Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced today that it has received a 510(k) clearance from the U.S. Food and Drug Administration (“FDA”) to market its Venus Versa Pro System, the Company’s new multi-application platform, for a variety of aesthetic and cosmetic procedures.
Venus Versa is a modular system based on a multi-application approach. It is customizable and upgradable and offers the most in-demand aesthetic treatments by supporting 10 optional applicators which utilize Venus Concept’s (MP)2, IPL and NanoFractional RF technologies. Designed as a modular platform, the Venus Versa can be configured to best suit any practice’s needs with the ability to add additional applications as the practice grows or changes.
The all new Venus Versa Pro System expands on the already comprehensive Venus Versa platform by incorporating proprietary advances in NanoFractional RF technologies from our dedicated skin resurfacing system, Venus VivaMD, providing higher power and deeper skin penetration for optimal results.
“This important clearance is a direct outcome of the new strategic plan we implemented earlier this year,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “Our new strategy has led us to prioritize the allocation of resources to our most promising growth opportunities and focus on continued innovation to accelerate our path to long-term, sustainable, profitability and growth. We anticipate that the Venus Versa Pro System will be an important contributor to revenue growth in 2024.”
“The Venus Versa Pro System once again demonstrates our commitment to continue to build upon our robust R&D pipeline,” said Hemanth Varghese, President & Chief Innovation and Business Officer of Venus Concept. “The advancements we are introducing in the Venus Versa Pro System, will provide superior, comprehensive technologies to support our existing and future customers, and address the growing demand for multi-modal solutions in aesthetics. Venus Versa has been one of the company’s best-selling products over the last 5 years with thousands of installations worldwide. We are confident that its new generation Venus Versa Pro System, can surpass the success of Venus Versa, offering our existing customer base an attractive upgrade option, as well as offering new customers a new standard of care to address nearly all their patient’s aesthetic concerns with one platform. We look forward to formally announcing our commercial launch in the coming weeks.”
