Fisher Wallace is Disrupting Big Pharma

Fisher Wallace has collected millions of dollars through equity crowdfunding to help reshape mental health care. Fisher Laboratories, a medical device business disrupting the mental health business with its FDA-cleared wearable brain stimulation technology, sees a time soon when pharmacological therapy will be the last resort for treating depression, anxiety, and insomnia.

The firm has raised millions of dollars through the equity crowdfunding website StartEngine to compete with Big Pharma by offering an FDA-approved gadget that is inexpensive out-of-pocket, has nearly no side effects. It has been proven effective in recent clinical trials.

Kelly Roman, CEO of Fisher Wallace, said, “The most commonly prescribed antidepressants were developed in the 1980s, cause side effects more often than they produce symptom remission, cost a fortune when you include doctor visits, and need to pass through the digestive system before reaching the brain.”

Wallace’s brain stimulation garment stimulates serotonin production and modulates brainwave activity by delivering pulsing electrical currents to the brain. During the pandemic, the business used moreover $2 million received through its StartEngine campaign to support three clinical investigations. On March 19, 2021, the findings were submitted to the FDA in the hopes of receiving new FDA approval and re-clearance for the treatment of MDD, GAD, and insomnia.

Too far, more than 70,000 people have acquired Fisher Wallace‘s Version 1 device through 14,000 prescribers. The business is working on a Version 2 gadget with the identical clinical dosage as the first. The device has a significantly superior industrial design and an app with hardware designed by Eric Fields, the award-winning designer of Beats and Nest products.