Usually we can not disclose the identity of a client for a
variety of reasons. For our newest
client, Virulite, LLC. not only can we disclose the identity, we even issued a press
release via Business Wire that they are available for acquisition. They do not have that many employees, they
all know about a possible sale, and in this case there is benefit in spreading
a wide net into pharmaceutical and medical device manufacturing companies.
Virulite, LLC. is the manufacturer of the Virulite device, an innovative hand-held
device that uses near infra-red light to reduce the healing time of cold sores
by up to 50%. It was developed in the
through clinical trials there, and is even approved and sold by the National Health
They have not yet developed a market outside the
why they retained our services. I was
hesitant at first because we don’t typically represent clients that demand a
large purchase price without earnings to back it up (usually a venture capitalist is what a company like this needs), but in this case a few
things changed my mind.
One compelling reason to take this project on was the simple
fact that the device works. I read the
reports, but what really drove it home was when I did a Google search and found
testimonials on the web for the time it was being sold on Walgreens online for
their test marketing. The testimonials
were outstanding. I was intrigued.
The market is nothing less than massive, with
GlaxoSmithKline doing around $2 billion in cold sore remedies. As you know, many of the drug companies like
GSK have to continually bring new products to market as their old drugs dropped
out of patent protection and become prey to generic knock offs. Did you know it takes an average of $800
million of R&D to develop a new drug?
Further, the drug companies are seeking non-drug remedies for some
ailments, because of the liability of using drugs.
It all adds up to the potential for Virulite to find a good
home with a company here in the
most likely a pharmaceutical firm or medical device company.