Miramar Labs

About Miramar Labs

Miramar Labs, Inc., founded in 2006 by Nimesh Shah and Steve Kim, is a medical device company that developed the miraDry system, a non-invasive solution for treating excessive underarm sweat, or axillary hyperhidrosis. The company originated from The Foundry, a medical device incubator, and was initially known as Foundry Newco X, Inc. before a series of name changes. A significant milestone occurred in July 2017, when Sientra, Inc., a medical aesthetics company, acquired Miramar Labs for an initial $20 million in cash, with potential for an additional $14 million in milestone-based payments.

The company's core offering is the miraDry system, which utilizes proprietary microwave technology to target and eliminate sweat and odor glands in the underarm area. This procedure, which also permanently reduces hair of all colors, received its first FDA clearance in 2011. The technology works by delivering precisely controlled electromagnetic energy that heats and destroys the glands, a process known as thermolysis, while a cooling system protects the skin's surface. The results are typically immediate and lasting, as the destroyed glands do not regenerate. The business model centers on selling the miraDry capital equipment to dermatology and plastic surgery practices and then supplying single-use applicators for each procedure, creating a recurring revenue stream. The treatment is sold through dermatologists, plastic surgeons, and aesthetic specialists directly to consumers seeking a permanent solution for underarm sweat and odor.

Miramar Labs addresses a substantial market of individuals bothered by excessive sweating. The miraDry procedure is positioned as a long-term alternative to treatments like Botox, which require repeated sessions. The treatment is performed in a clinician's office, typically taking about an hour after the administration of local anesthesia. While most patients achieve desired results with one or two treatments, a third may sometimes be necessary. The company has established a global presence, with the miraDry system available in over 50 countries.