- Wellfully (WFL) launches Swisswell Boost, the world’s first science-based universal applicator designed for the delivery of topical health products
- It will also increase the speed of recovery as well as deliver specialised treatments for specific injuries like wound care and skin conditions
- The company says the universal applicator will be easily accessible to consumers around the world
- Shares in Wellfully were down 15.87 per cent to 5.3 cents as of 3:27 pm AEST
Wellfully (WFL) has launched Swisswell Boost, the world’s first science-based universal applicator designed for the delivery of topical health products.
The innovation will also increase the speed of recovery as well as deliver specialised treatments for specific injuries like wound care and skin conditions.
Like the company’s REDUIT device, the Swisswell Boost is a diamagnetic “push” to enhance transdermal delivery of active ingredients.
The company said the universal applicator will be easily accessible to consumers around the world.
Wellfully expects the innovation to have a positive impact on the company’s short to mid-term financial results, as it successfully leverages the existing industrial and supply-chain infrastructure developed over the last two years.
The Swisswell Boost also supports an expansion of the digital platform across new health applications, thereby assisting segmentation and understanding of customer needs and habits in the health space.
With the product, the company is tapping into a US$100 billion (A$140 billion) of topical drug delivery, expected to grow at a compounded annual growth rate of 5.8 per cent to reach US$158 billion in 2028.
This effectively increases the total addressable market by more than 20 per cent, from
around US$500 billion to US$600 billion.
In an another announcement released today, Wellfully noted the resignation of Antonio Varano della Vergiliana from its Board, effective from the end of June. Mr Varano, who joined the company in May 2019, had acted as Chairman until April this year, but is now turning his focus to “other endeavours.”
Notably, the Board will operate under a new compensation structure from July onwards. This will include a reduction in the number of Board members, a lower proportion of non-executive directors, and both variable and fixed consulting fee engagements.
Wellfully anticipates the overall measures will cut Board expenses from $428,000 to $214,000.
Shares in Wellfully were down 15.87 per cent to 5.3 cents as of 3:27 pm AEST.