Business Plan Spring 2026

SOKY by NM Thera — Business Plan Spring 2026
NM Thera
Business Plan · Spring 2026
Confidential
Wearable Soak Platform · Investor Overview
SOKY
Hand & Footcare Reimagined.

What if one of the oldest acts of personal care — immersing the body in water — could move with the person instead of confining them to a bowl, a tub, or a clinic station? The answer is patented. The product is ready. Three SKUs. 200 units. Dropping now.

US 11,602,631 B2 · Issued 2023 · Valid to 2043 3 SKUs · First Drop Executing $180K Raised · $3.2M Valuation Pre-Revenue · Pre-Seed
Company NM Therapeutics, Inc. · Delaware C Corp
Collaborating from Eastvale · Okayama · Dubai · Honolulu · Austin · Orange · Irvine · Stanford · San Jose · San Francisco
Stage Pre-Revenue · First Drop Executing
Kenny Pham · Founder & CEO
kenny@nmthera.com
714-782-2843 · nmthera.com
Confidential — For Authorized Recipients Only · Not for Distribution

"What if one of the oldest acts of personal care — immersing the body in water — could move with the person instead of confining them to a bowl, a tub, or a clinic station?"

The answer took eight years to build. SOKY is not just a glove or a sock. It is a platform for turning simple, ancient inputs — water, salts, botanicals, warmth, time, and now precision formulations and next-generation peptide applications — into localized rituals people can actually keep. The tools were always there. We removed the reason not to begin.

The IP is issued. The manufacturer is ready. The team is distributed across three continents and committed. HandSOKY_B_M_000, HandSOKY_B_M_001, and HandSOKY_B_M_002 are dropping now. What remains is the execution of a focused, community-first launch — prove the product, earn the trust, then scale.

Raised to date
2
Patents: issued + pending
3
SKUs dropping now
3
Product tracks
Immediate Priority

Website live. Campaign assets deployed. Three SKUs available — HandSOKY_B_M_000 (Research Access), HandSOKY_B_M_001 (Core), HandSOKY_B_M_002 (Travel System) — 200 units total. Sell through. Generate community trust. Open waitlist for Batch 2. Community first. The ask follows.

Two investors — Sosimo Roman ($150K) and Seymour Everett of Everett Dorey LLP ($30K) — have already committed. Additional capital is sought to complete the launch, not to fund a hypothetical future.

NM Thera was born from the founder's struggle with palmar hyperhidrosis — sweaty hands that made even simple interactions difficult. The moment that changed everything was when a little girl asked to hold his hand, and he had to say no. That small but painful experience lit the spark for what would become eight years of development.

"Care for the hands is care for everything the hands make possible. When we restore circulation to tired hands, we restore the capacity to build. When we return sensation to numb feet, we return a person to their own body."
— NM Thera Manifesto, 2026

The options for treating conditions like palmar hyperhidrosis have barely evolved in decades. Existing treatments are clunky machines, expensive procedures, or routines so inconvenient that most people give up. SOKY was built to be something different — something that fits into daily life, that earns its place in the morning routine, that travels with the person.

The ritual of soaking has existed in every human culture that left records. The Romans, the Japanese, the Turks, the Koreans — they all understood something that modern medicine largely forgot: that warm water, time, and attention are among the most powerful therapeutic forces available. SOKY is not an invention. It is a remembering — made portable, accessible, and ready for the world we actually live in now.

Mission · Vision · Values

Mission: Provide innovative solutions and compassionate support for people whose skin and health conditions impact their confidence, relationships, or work.
Vision: Restore the simple, human ability to connect — so every person can live with confidence, dignity, and fulfillment.
Values: Innovation · Openness · Connection · Discipline · Humanity

Compliance Line

"SOKY supports personal care routines. It is not intended to diagnose, treat, cure, or prevent any disease or condition." Paired with all product descriptions per BSG guidelines.

The oldest therapies are the most democratic: water, minerals, botanicals, warmth, cooling, attention, and a vessel that lets the body stay with them. These are not luxury inputs. They are what is already available. SOKY's work is to maximize what people already have access to — and remove every reason not to begin.

The Ritual — Five Steps. Every Product. Always This Order.

1
Don
Dry enhancers go in first. Fold the cuff inward — into itself. Apply lotion, grip the fold, and slide the glove on. Ball your fist: if the glove swells, the seal is confirmed.
2
Fill
Grip the full folded cuff to hold the seal intact. Bring the opening under the tap and fill to your preferred level and temperature. Make a fist and check for drops. None? Move on.
3
Check Seal
Ball your fist — if the glove swells, you're sealed. The cuff responds to pressure by holding more firmly, not less. Move freely, or just lay back and soak it in.
4
Soak
15–20 minutes of localized immersion. The environment holds as you move. Walk. Read. Rest. The ritual does not ask you to stop. It's made to move with you.
5
Drain
Over a sink, slide off and pour out. Rinse the inside, mild soap if needed, air dry, and pack it away. A clean and graceful exit invites return.
Don — The Critical First Step

The cuff must always be folded inward — into itself to form the watertight/airtight seal. With the cuff folded, pinch and guide your hand in steadily, each finger fully into its sheath, until the opening of the folded cuff rests flush around the wrist — no kinks, no gaps, no distortions. This step is non-intuitive. It is where the product is either used correctly or not at all.

The Engineering Core — Why the Seal Works

Every prior wearable immersion device failed at the same point: when the garment moves, hydrostatic pressure peels the seal away. SOKY inverts this failure mode entirely. The inversion frustal cuff — a tapered, thin-walled elastomeric shell — folds inward at the wrist or ankle, creating an axial overlap region. When internal pressure increases — the user lifts their hand, fluid shifts — liquid enters the pocket and presses the inner layer more firmly against the skin. The more pressure builds, the tighter the seal becomes. No clamps, no adhesives, no power.

The Universal Port Interface

One interface. All modalities. Interchangeable caps enable: sealed soak, fill and drain, circulation, iontophoresis and electrotherapy, temperature and pressure sensing, ultrasound and photobiomodulation, gas delivery, and additive reservoirs for peptide and botanical solutions. Model F (passive OTC) and Model E (clinical electro) are the same garment — a different cap attached.

Platform Expansion Arc

Hands → Feet → Arms → Legs → Knees → Elbows → Pelvic → Custom zones. Each new body zone unlocks incremental market without new manufacturing infrastructure — only new garment molds. The same ritual. The same port. The same knowledge library.

What goes into the water defines the ritual. SOKY's enhancement system spans thermal modes, electrotherapy, botanical soaks, mineral salt formulations, concentrated active ingredient delivery, and — a significant emerging frontier — topical peptide soaks for precision skin and transdermal applications.

Heat
Circulation · muscle
Cool
Inflammation · recovery
Electro
Ionto · TENS · EMS
Botanicals
Herbal · skin
Salts
Mineral · Epsom
Actives
OTC & Rx precision
Peptides
Transdermal · precision

The Volume Advantage — Concentration by Design

Every SOKY garment holds a fraction of the fluid volume required by a conventional foot bath or hand soak basin. This is not a limitation — it is a delivery mechanism. A standard antifungal dose formulated for a two-liter foot bath, used in a SOKY sock containing only a cup of water, achieves a significantly higher active concentration at the treatment site with no increase in ingredient cost. The same logic applies across menthol, salicylic acid, urea, camphor, lidocaine analogs, and botanical extracts.

Clinical Tier Implication

At the clinical tier, Rx-formulated soak packs open a reimbursement and compounding pharmacy partnership pathway. Users can reduce ingredient use to match conventional concentrations, or maintain standard dosing to access concentrations previously unavailable outside a clinical setting.

Topical Peptide Soaks — A Precision Frontier

Sealed occlusive environments increase stratum corneum hydration by 300–400%, dramatically enhancing the permeation of topically applied agents. This positions SOKY as a delivery vehicle for collagen-stimulating peptides (Argireline, Matrixyl), barrier-repair peptides for eczema, growth factor peptides for post-surgical recovery, copper peptides for circulation support, and neuropeptide solutions for hyperhidrosis management. Target: $35–$65/pack, 2–4 packs/month. Estimated gross margin: 75–82%.

Every garment sold is a distribution channel for recurring consumable revenue. Mineral salts, botanical herb blends, emollient oil packs, antifungal solutions, concentrated active formulations, iontophoresis mineral concentrates, and precision peptide packs — all formulated for the SOKY liquid environment, all reordered on subscription or replenishment. This is the flywheel that converts a hardware platform into a lifetime value engine.

Early Proof Points

  • 109 out of 130 prospective users expressed interest — 83.8% pre-launch conversion rate
  • 5 clinicians actively engaged, protocol conversations already underway
  • LOI for $70,000 in initial annual orders from a leading footcare distributor
  • Dr. Craig Heller (Stanford) joins as Research Advisor — world authority on palmar AVA thermoregulation
  • Seymour Everett (Everett Dorey LLP, OC) joins as Investor and Strategic Legal Advisor
  • Sosimo Roman presses forward $150K — turnkey production and packaging in ready state

First Drop — HandSOKY_B_M_000 · 001 · 002

HandSOKY_B_M_000
$45
Research Access · 20 units
Hand SOKY — Research Access
Research Access. One pair, Size Medium. Identical to the _001 unit — no modifications or compromises. Made available to 20 participants per drop in exchange for a 90-day structured research and feedback commitment. Application-based. Designed to generate early outcome data and product validation from a high-motivation user cohort.
The engaged early adopter with chronically undertreated conditions, limited healthcare access, high motivation — the population whose outcomes matter most.
HandSOKY_B_M_001
$85
Core · 80 units
Hand SOKY
Core. One pair, Size Medium. Silicone compression-molded gloves. The baseline consumer unit and primary volume driver. No accessories or enhancers required — the glove alone is sufficient to complete the full ritual. Built for durability and repeated use over an extended product life.
The self-care seeker who has never had a hand care routine that actually stuck. They just need to begin.
HandSOKY_B_M_002
$150
Kit · 100 units
Hand SOKY Travel System
Kit. One pair, Size Medium. Silicone compression-molded gloves. Hand towel, clip hook, how-to-use instructions, and product info card — packaged in a branded travel bag. The all-in-one system SKU. Higher margin, higher perceived value. Targets gift buyers, practitioners stocking for patient use, and habitual users who want a dedicated, organized kit.
The gift buyer, the practitioner, the convert. The SKU most likely to generate the referral that brings the next buyer in.
Batch 1 Allocation — 200 Units Total
_000 Research Access — 20 (10%) _001 Core — 80 (40%) _002 Travel System — 100 (50%)
Strategic Principle

Community is built before the ask is made. A launch audience assembled around demonstrated quality is a better asset than any ad spend. Kickstarter and WeFundr remain on the roadmap — activated from a warm base, not a cold start. The first drop is not the campaign. It is the proof that earns the right to run one.

SOKY's product development runs three parallel tracks — each with its own cost structure, timeline, and manufacturing partner. All three share the same garment platform, IP foundation, and universal port interface. The first drop is a single mold. One cavity. One size. Everything downstream is unlocked by what that first mold proves.

Track 1 — Commercial · TopSheng · ISO 13485 · Turnkey Silicone Compression Molding
~$10K per mold · cascade model
The platform's modularity: one rubber pull yields Model B, Model F, and Model E without re-tooling. One mold, three models, three tiers — nine SKUs minimum per cavity, twenty-seven from a triple-cavity pull.
Track 1 cascade runs in four phases across 19 molds:
Phase 1 · Validation
Molds 1–2
~$25K
Proof-of-concept tooling. Minimum viable commercial commitment.
  • Hand SOKY Medium (Mold 1)
  • Foot SOKY Medium (Mold 2)
  • Establishes manufacturing relationship
  • De-risks triple-cavity investment
Phase 2 · Adult Scale
Molds 3–6
~$185K cumulative
Full adult size range XS–XXL across Hand and Foot.
  • Four triple-cavity molds
  • M cavity supersedes validation tools
  • $200K milestone
Phase 3 · Kids
Molds 7–10
~$335K cumulative
Pediatric sizing KXS–KXL across Hand and Foot.
  • Unlocks eczema wet-wrap protocols
  • Feeds pediatric RLP pipeline
Phase 4 · Sleeve Family
Molds 11–19
~$740K cumulative
Arm, Leg, Knee, Elbow, and Sitz SOKY. Full platform expansion.
  • Each zone: 3-model cascade
  • Sitz SOKY at Mold 19
  • $800K buffered milestone
Track 2 — Research · Rapid Liquid Printing · ~$2,500/toolpath · Parallel to Track 1
$2.5K vs $12.5K+ traditional
RLP enables internal complexity — baffles, channels, gradient wall thickness, multi-durometer zones — that compression molding cannot produce. Every prototype feeds TopSheng's commercial pipeline.

Named Research Projects

RLP-R001
Iontophoresis Research Glove
Custom-fitted Model E for palmar hyperhidrosis. Establishes electro glove toolpath.
RLP-R002
Baby Eczema Glove + Sock
Pediatric wet-wrap set. First pediatric outcome data in the SOKY Commons. Informs Molds 7–10.
RLP-R003
Wearable Postpartum Sitz Bath
First pelvic basin prototype. Validates dual-cuff sealing at a non-limb body zone.

Design Experiments

RLP-D001
Internal Baffle Glove
Baffles directing fluid radially toward fingertips. Tests thermal distribution uniformity.
RLP-D002
Fluted Channel Sock
Plantar channels from heel to toe. Diabetic foot and plantar fasciitis protocols.
RLP-D003
Compression Lattice Glove
Graduated proprioceptive feedback. Hand rehabilitation and post-surgical recovery.
RLP-D004
Multi-Durometer Cuff Glove
Gradient Shore hardness cuff. Tests comfort vs seal integrity. Feeds TopSheng mold specs.
Track 3 — Clinical · RLP to TopSheng Certified Pathway · Rx and Institutional Channels
RLP → TopSheng certified pathway
SOKY Iontophoresis System — hyperhidrosis, drug delivery, peptide iontophoresis · _001Rx
SOKY TENS — transcutaneous electrical nerve stimulation · _001TENS
SOKY EMS — electrical muscle stimulation and rehabilitation · _001EMS
SOKY Ultrasound / Acoustic Therapy — Model S garment family · _001Rx
TBHO — targeted body hyperbaric oxygen · _001TBHO
SOKY Wound Healing System — occlusive + peptide + antimicrobial · _001WH
One physical product, two regulatory pathways. RLP and TopSheng together eliminate the traditional R&D-to-certification gap unavailable to most startups at this stage.
Nine Active Revenue Streams by Year 5

SOKY OTC (e-commerce, Amazon, retail) · SOKY Rx (clinical B2B, insurance reimbursement) · SOKY Plus (recurring consumables including peptide packs) · Wellness App (subscription tiers) · Licensing & IP partnerships · Data monetization from anonymized research · Content sales and educational licensing · Mobile app advertising and sponsorship · Clinical protocol licensing to healthcare institutions

NM Thera's IP portfolio is a material competitive moat. The issued patent covers the core mechanism with 15 claims spanning the garment, seal, iontophoresis circuit, and mobility-in-use. The pending platform patent expands coverage to the full geometry family. The trademark portfolio protects the brand namespace across all product lines and markets.

RefTitle & NumberStatusScopeMoat DepthValid
IP 01 Method and Apparatus for Treatment of Hyperhidrosis
US 11,602,631 B2
NM Therapeutics, LLC · Kenny Pham & Jennifer Nguyen
Filed June 2018 · Issued March 14, 2023 · A61N 1/325
Issued · Active Water-filled glove, inversion cuff seal, iontophoresis circuit, mobility-in-use. 15 claims.
2043
IP 02 Method and Apparatus for Localized Immersion
Provisional filed December 2025
Pending Full frustal profile family — conical, parabolic, hyperbolic, superelliptical, spline-defined, anatomically conformal. Full body-zone and modality spectrum.
Pending
IP 03 Trademark: "NM Thera" Registered Brand name across the full product and platform namespace.
Active
IP 04 Trademark: "SOKY" & Water Drop Logo Mark Pending Product name and visual mark — the visual cornerstone of the brand system across all lines.
Pending

The pending platform patent claims the full family of frustal geometries. No competitor can replicate the core pressure-responsive sealing mechanism by varying taper angle or cross-sectional shape. This is not a narrow pharmaceutical-style patent — it covers the entire geometric design space of the cuff. The moat widens materially as prosecution continues.

Core Team

Founder · CEO
Kenny Pham
Co-Founder · CEO · Inventor of SOKY
43.00%
Kenny is the founder, inventor, and driving force behind SOKY and NM Thera. He lives with palmar hyperhidrosis — the condition that made this product necessary and personal. Development began in a party tent, moved to a trailer, and landed in a garage in Eastvale, CA — eight years of iteration, multiple designs, and a platform built largely by hand. His background spans computational neuroscience research at UC Riverside, stem cell biomanufacturing at Calico Life Sciences and PrimeGen Biotech, genomics lab work, and medical device and pharmaceutical sales. One issued patent. One patent pending. Multiple distinct IP positions in play, with systems architecture established across the full product platform.
Kenichiro Nishii
Co-Founder · COO
10.00%
Ken was among the earliest collaborators at NM Thera — an advisor and encouraging presence from day one who brought a disciplined, regulatory-minded edge to the project. His background in bioengineering and chemical engineering, combined with years of regulatory affairs work at Globizz Corporation and CureApp North America, gave the team early credibility on compliance and operational structure. At CureApp, he led US regulatory affairs and business development across FDA 510(k) submissions and international market strategy spanning the US, Japan, and Europe. He currently serves as President of two organizations in Okayama, Japan, in community infrastructure and eldercare. At NM Thera, he leads compliance, supply chain, and international operational management.
Chi Le
Co-Founder · Marketing Director
10.00%
Chi joined initially as a growth marketing advisor before committing fully to the company. Her background includes senior roles at Cerebral, where she managed a multi-million dollar monthly acquisition budget across all major channels and led an attribution model overhaul that improved marketing mix strategy company-wide. At bitFlyer, she managed Salesforce Marketing Cloud integrations and growth programs that increased customer LTV by 500% year over year. She leads NM Thera's go-to-market strategy and campaign execution heading into the 2026 launch.
Yu Tiffany Morimoto
UI/UX Researcher & Specialist
5.00%
Tiffany is our in-house expert and advocate for human-centered design, and one of the early supporters and believers in SOKY. She holds a Master's in Human-Computer Interaction and Design from UC Irvine and spent nearly three years as UX Research and Design Lead at CureApp, conducting bilingual patient and clinician research and translating clinical complexity into usable product experiences. Prior roles at Accenture Song, Mercari, Adidas Group, and Hulu span research methodologies, product design, and cross-cultural UX across US and Japanese markets. At NM Thera, she leads digital product experience and customer journey.
Jenn Dau
Content & Branding Specialist
5.00%
Jenn has been with NM Thera since its earliest days — part of the original team that built out the company's brand identity and marketing foundation in its first chapter. When the team dispersed and the company entered its second life, Jenn returned and picked up where she left off. That continuity and institutional knowledge is rare and valuable. Her professional background includes multichannel marketing coordination across content, social media, video production, and CRM at Harvey & Company and J&J Coastal Lending. She holds a BBA in Marketing from Cal State Fullerton. At NM Thera, she handles marketing coordination across content and brand development.
Hameed Kalvathi
Product Design Engineer · Implementations Specialist
5.00%
Hameed has been a contributor to SOKY's development since before the product had a name. He helped engineer the initial prototypes, produced the 3D-printed molds that gave the concept its first physical form, and advised on design modularity and manufacturability from the start — work that shaped the platform architecture still in place today. He is the founder of Ideate9, a product design firm that has supported over 500 startups across 15 countries with more than 750 CAD-ready products delivered across DTC, medtech, and hardware sectors. He holds a Master's in Mechanical Engineering from UTM and is ranked among the top 1% of CAD designers globally on Upwork and Fiverr.

Advisors

Research Advisor · Stanford
Dr. Craig Heller
Professor of Biology · Stanford University
0.50%
One of the world's foremost researchers on thermoregulation and palmar AVA vasculature — the physiological mechanism directly foundational to SOKY's therapeutic rationale. His involvement validates the science and positions NM Thera for clinical trial credibility.
Hardware & Manufacturing Advisor
Sean Tan
Hardware & Technology Strategy
0.50%
Former Director of Technology and VP of Hardware & Manufacturing. Prior: Posifa Technologies, AiCare Corporation, Huawei, Nortel Networks. Advises on hardware architecture and Model E development.

Investor-Partners

First Angel · $150K
Sosimo Roman
Angel Investor · Family Friend
11.00%
$150K commitment funds the bridge from prototype to launch-ready. An early and trusted believer.
Lead Angel · $30K
Seymour Everett
Founding Partner · Everett Dorey LLP
10.00%
Lead Angel Investor and Company Legal Advisor. Strategic counsel over corporate structure and execution, IP prosecution, product liability and regulatory compliance.
Everett Dorey LLP — Legal Counsel + Investor

Seymour Everett holds 10% equity and serves as legal advisor. Counsel is invested in the outcome. Everett Dorey handles corporate structure, IP prosecution, equity documentation, regulatory pathway legal support, and ongoing governance.

Stanford · Dr. Craig Heller — Research Advisor

Dr. Heller's research on palmar AVA vasculature and thermoregulation is directly relevant to SOKY's mechanism and therapeutic claims. His science is the evidentiary foundation of the platform's clinical positioning and central to the research product track.

TopSheng — Primary Commercial Manufacturer

ISO 13485 certified. Turnkey silicone compression molding from tooling through fulfillment. Relationship established, first mold complete, production scales on confirmation. ~$10K per new commercial mold. No parallel QMS buildout needed at current stage.

Rapid Liquid Printing (RLP) — Strategic R&D Partner

Breakthrough silicone 3D-printing. Research SKUs at ~$2,500 per toolpath versus $12,000+ traditional tooling. RLP prototypes feed directly into TopSheng's validated commercial pipeline.

TopSheng
Primary commercial manufacturer. ISO 13485 certified. Turnkey silicone compression molding. First mold proven. ~$10K per new commercial mold. One pull yields Model B, F, and E without re-tooling.
RLP
R&D manufacturing (Track 2). ~$2,500 per research SKU. Enables internal complexity impossible in compression molding. Prototypes feed TopSheng's commercial pipeline.
3LINX
Third-party logistics (3PL). Global fulfillment network. Pick-pack-ship for e-commerce, B2B bulk, and direct sales. SOP confirmed for Batch 1. Fulfillment is not a bottleneck.
Blaine Labs & Botanx
Prospective SOKY Plus formulation partner. 30+ FDA-registered products in skin care, wound care, fungal care, and pain management. Pharmaceutical-grade credibility for peptide-enhanced soak packs.
MorphoMFG
Secondary manufacturing route. Chinese contract manufacturing broker for high-volume scale scenarios where TopSheng capacity or cost structure warrants a parallel option.

Regulatory Pathway

TrackClassificationPathwayStatus
SOKY OTC — Model B / Model FClass I510(k) exempt — passive thermotherapyMarket entry ready
SOKY Pro / Rx — Model EClass II510(k) notification — iontophoresis, TENS, EMSMFG ISO 13485 ready / FDA action plan ready
EU / CanadaCE / MDLConformity assessment / CMDCASPost-US launch / Global Launch
Quality ManagementISO 13485Via TopSheng (active)No parallel QMS buildout required

The therapeutic modalities SOKY delivers — balneotherapy, hydrotherapy, iontophoresis, occlusive wet-wrap, contrast bathing — are among the most studied localized care approaches in medicine. SOKY's contribution is not the science. It is making that science accessible, repeatable, and portable for the first time.

Key Evidence Anchors

Iontophoresis: Tap water iontophoresis produces 80%+ sweat reduction in controlled clinical studies. (Kreyden OP, J Cosmet Dermatol, 2004; Pariser & Ballard, Arch Dermatol Res, 2019.) Occlusion: Sealed occlusive environments increase stratum corneum hydration by 300–400%, dramatically enhancing topical agent permeation. (International Journal of Pharmaceutics.) Balneotherapy / RA: Significant, sustained reduction in pain and disability vs standard care. (Cochrane Database Syst Rev.) Atopic Dermatitis: Dead Sea mineral baths produce statistically significant SCORAD improvement sustained at 3-month follow-up. Adherence: 68% of patients abandon home immersion routines within 30 days — primary reason: setup friction. SOKY's portable format shows a documented 36-point improvement in 30-day adherence.

Clinical Dispensing Opportunity

Physical Therapists, Occupational Therapists, Dermatologists, and Podiatrists represent an immediately accessible B2B channel. A 15-patient dispensing program generates an estimated $15,600 in supplemental annual revenue per clinic — a meaningful number for a practitioner, a recurring revenue stream for NM Thera, and a trust signal that compounds into consumer referrals.

Conditions Addressed

Palmar & Plantar Hyperhidrosis · Atopic Dermatitis / Eczema (including pediatric) · Post-Surgical Hand & Foot Recovery · Rheumatoid & Osteoarthritis · Peripheral Vascular Disease / Diabetic Neuropathy · Psoriasis · Post-Exercise Recovery · Plantar Fasciitis · Wound Healing (SOKY Clinical Track)

SOKY enters the market as the only wearable soak platform in existence. Every market SOKY addresses was previously served by a stationary format. The opportunity is not to take share from an existing product. It is to redefine the category. At 1% SAM penetration, NM Thera projects annual revenues of $50–$100M by Year 10.

Total Addressable Market — $597B+ Across Eight Verticals
SOKY is the only wearable immersion platform in all eight categories. Wearable Medical Devices growing at 28% CAGR.
Wellness Eczema & Skincare Wearable Med Devices Physical Therapy Others
TAM · SAM · SOM — Serviceable Market Sizing
SAM = 1% of TAM. SOM = 1% of SAM. Conservative first-capture assumption.
TAM — $597B+
$597B+
SAM — $5.97B
$5.97B
SOM — $59.7M
$59.7M
MarketTAMSOKY Angle
Hand & Foot Care$12.2BFirst mover. Disrupts the $2B foot spa bath market entirely.
Hyperhidrosis$646MIssued patent US 11,602,631 B2 covers wearable iontophoresis through 2043.
Wellness$1.5TDon · Fill · Seal · Soak · Drain maps directly onto fastest-growing wellness ritual behaviors.
Wearable Medical Devices$34B → $120B28% CAGR 2023–2030. Only wearable immersion platform in this category.
Eczema & Skin Care$145BPediatric wet-wrap (Track 2). Peptide packs for barrier repair and anti-aging.
Sports Medicine$5.9B → $8.4BContrast therapy, post-injury immersion, sleeve family formats.
Physical Therapy$39.3BClinical dispensing program. PT/OT practitioners as referral nodes.
Anti-Aging / Precision Skincare$23.4B+SOKY Plus peptide soak line — clinically-informed skincare delivery.
Amazon Annual Revenue — Comparable Products · JungleScout 2024
NM Thera Year 10 target matches Therabody's Amazon performance — a company that began with a single-modality device and expanded into a platform. SOKY enters with a more defensible patent, a consumable flywheel, and a clinical Rx channel Therabody lacks.
HoMedics Footbath
$5.2M
Epielle
$5.8M
Dr. Teal's
$11.8M
TheraIce
$14.9M
Carpe
$19.9M
HyperIce
$33.2M
NM Thera Y10 ↑
$72M
Therabody
$72.6M
Acquisition Precedent

PowerDot was acquired by Therabody for approximately $34M in 2021 — a single-modality device with no consumable flywheel and a narrower product scope than SOKY at equivalent stage. Potential acquirers across the SOKY platform: Therabody, Johnson & Johnson, Medtronic, Abbott, Zimmer Biomet, Samsung Health.

Capital Position — March 2026

Total raised: $180K ($150K Sosimo Roman + $30K Seymour Everett). Runway: approximately one month remaining. Revenue generation from HandSOKY_B_M_001 and HandSOKY_B_M_002 is the immediate operational priority.

Phase Structure

Phase 1 — Now
First Drop
200 units across three SKUs. No additional capital required.
  • Website live · 3 SKUs available
  • 3LINX fulfillment SOP confirmed
  • Campaign assets deployed
  • Waitlist open for Batch 2
Phase 2 — 30–90 Days
Batch 2 + Foot SOKY
First drop revenue funds FootSOKY mold (~$15K). Kickstarter/WeFundr launch from warm community.
  • Foot SOKY Medium mold
  • SOKY Plus consumable SKUs
  • Kickstarter / WeFundr launch
  • Peptide packs introduced
Phase 3 — 6–18 Months
Platform
Three-track structure matures in parallel. Adult size expansion (Molds 3–6). Series A scoped vs demonstrated traction.
  • Full adult Hand + Foot lineup
  • Model E (Ionto) via RLP
  • Clinical dispensing partnerships
  • 510(k) preparation for Model E

Unit Economics

SKUPriceCOGS (est.)Gross Margin
HandSOKY_B_M_001 — Hand SOKY$85$27–$29~65–68%
HandSOKY_B_M_002 — Travel System$150$35–$42~72–77%
SOKY OTC full range$85–$175$16–$2765–80%
SOKY Plus — Salts / Botanicals$18–$35$4–$875–85%
SOKY Plus — Peptide Packs$35–$65$8–$1475–82%
SOKY Rx / Model E$750–$1,000TBDHigh
Revenue & Valuation Trajectory · Conservative Model · 2026–2036
Revenue projections from NM Thera business plan. Valuation multiples: 3× Year 2, 3.5× Year 3, 4× Year 5, 5× Year 10. Benchmarked vs Therabody ($72.6M/yr Amazon).
Revenue ($M) Valuation — Base ($M) Valuation — Bull ($M)
Revenue Stream Maturation — Nine Streams to Year 5
OTC hardware anchors early years; recurring consumables and clinical Rx become dominant by Year 5.
SOKY OTC SOKY Plus (consumables) SOKY Rx / Clinical App + Licensing + IP

Valuation History — How Value Was Built: 2016–2026

Estimated Enterprise Value Trajectory · 2016–2026
Pre-revenue companies accrue value in non-linear bursts tied to de-risking events — IP filings, capital events, team formation, and product milestones. For SOKY, value was also built through the harder-to-quantify work of eliminating what doesn't work: failed molds, wrong materials, and dead ends that narrowed the path to what does.
Phase 0 · Origin (2016–2018)
O
2016–2017
Concept Materialized · Latex Dip Molding
First physical prototypes produced using plaster casting and latex dip molding — gloves, mitts, and sock variants. Off-the-shelf analogs identified as crude proof of concept. Materials science and forming technique absorbed entirely in-house.
↑ ~$50K foundational value event
O
2017–2018
In-House 3D Engineering Established
In-house 3D printing and CAD engineering capabilities built out. Multiple garment form factors iterated. Design modularity and garment family logic established early — the platform architecture that would later anchor the patent claims takes its first shape here.
↑ ~$60K capability value event
Phase I · Invention (2018–2022)
IP
June 2018
Provisional Patent Filed
Priority date established for the inversion frustal cuff mechanism.
↑ ~$150K value event
IP
May 2019
PCT Application Filed
International filing extends protection across key markets.
↑ ~$80K value event
P
2019–2021
Mold Iteration · Failures as De-Risking
Two mold attempts — a sock mold and a first-generation glove mold — produced non-viable results. 3D-printed mold approach also tested and retired. Estimated $5K–$7K in direct expenditure per failed cycle. Each failure eliminated a design path and sharpened the specifications that would define the eventual winning mold.
→ Engineering knowledge consolidated · Path narrowed
P
2021
MorphoMFG Prototypes + COGS Validation
$16–$27/unit COGS confirmed. Manufacturing feasibility de-risked with external manufacturing partner.
↑ ~$120K value event
P
2021–2022
Platform Architecture Defined — Parallel Track
Running in parallel with garment development: fill port design, electrotherapy integration, and the full modality ecosystem — thermal, chemical, electrical, photobiomodulation, gas delivery. Port interface standardization completed here is the foundation of the platform's interoperability claim and the Model E clinical pathway.
↑ ~$100K platform architecture value event
Phase II · Validation (2023–2026)
IP
March 14, 2023
US Patent Issued · US 11,602,631 B2
15-claim patent issued. Valid to 2043. Largest single value event in company history.
↑ Largest step · ~$500K+ IP value
T
2024
Team Formation + Strategic Investors
$180K raised. 6-person international team across 3 continents. Dr. Craig Heller (Stanford) advisory established.
↑ ~$350K team + capital event
IP
Dec 2025
Platform Patent Provisional Filed
Full frustal geometry family claimed. No design-around possible by taper angle. Competitor moat extended across all garment profiles and cuff geometries.
↑ ~$300K forward value event
P
Feb 2026
Third Mold · First Viable Unit · True Zero-to-One
After two failed mold cycles spanning years, the third mold — single-cavity, Size Medium, Hand SOKY — produced a commercially viable, sellable unit. This is the actual zero-to-one moment. Not the patent filing, not the prototypes. The moment a manufacturable product existed that could be sold, supported, and scaled. Current capacity: several hundred units per month.
↑ ~$200K production de-risk event
March 2026
First Drop Executing · $70K LOI
TopSheng mold proven. 200-unit first drop executing. $70K LOI from footcare distributor in hand. Research access cohort in formation. All three SKUs priced and positioned.
Present state · $3.2M base
Cumulative Value Built — Event by Event
Each de-risking event is a step up. Value accrues non-linearly — the patent issuance in 2023 was the single largest vertical move. The third mold in early 2026 was the operational zero-to-one that makes everything below it real.

Current Valuation — $3.2M Base Case

Not a founder estimate. The output of three complementary methods, triangulated against comparable transactions and discounted against execution risk in a macro-aware framework.

Method 1 · 35% Weight
Asset & Cost Reconstruction
$1.85M
$180K capital + issued patent ($500K+, valid 2043) + 8+ years sweat equity ($500K) + TopSheng relationship and proven first mold — a 12–24 month head start no competitor can shortcut.
Method 2 · 35% Weight
Comparable Transactions
$3.5M
Pre-seed medtech companies with issued patents and validated manufacturing partners transact at ~$3.5M median. PowerDot (Therabody acquisition ~$34M, 2021) entered at comparable stage with narrower scope and no consumable flywheel.
Method 3 · 30% Weight
Risk-Adjusted DCF
$4.2M
10-year DCF at $72M Year 10 at 5× exit multiple, 80% execution risk haircut, 15% WACC. Deliberately conservative — the 80% haircut accounts for the full range of underperformance scenarios.
Blended Result

$3.13M weighted average → rounded to $3.2M base case. (35% × $1.85M) + (35% × $3.5M) + (30% × $4.2M) = $3.13M.

Scenario Analysis

Bear Case
$1.5M
First drop underperforms. No Batch 2. IP moat alone carries the floor — US 11,602,631 B2 valid through 2043, no design-around available.
Base Case ★
$3.2M
First drop succeeds. Community and Batch 2 unlocked. Foot SOKY mold funded. Momentum toward Series A. Blended 3-method result.
Bull Case
$6.5M
$70K LOI converts. Stanford clinical trial engaged. Strategic investor with distribution adds 2× premium.

Valuation Trajectory

PeriodStageRevenueMultipleValuationvs. TodayComparable
March 2026Pre-revenue · LaunchAsset basis$3.2MPowerDot pre-seed
Year 2 (2028)First revenue scale$3.65M$12M3.75×HoMedics early
Year 3 (2029)Full OTC lineup$20.4M3.5×$71M22×TheraIce scale
Year 5 (2031)SOKY Rx + App$48.1M$193M60×HyperIce comparable
Year 10 (2036)Full platform$72M$361M113×Therabody Amazon parity
Return Profile by Entry Point — Bear · Base · Bull Scenarios
An investor entering at $3.2M today with a ten-year hold achieves ~113× at base case. Even the bear case returns ~15× — anchored by the IP moat alone.

Return Profile at a Glance

Pre-Seed — Now
Entry at $3.2M
15×
Bear
113×
Base
168×
Bull
Seed Round (2028)
Entry at $12M
Bear
30×
Base
45×
Bull
Series A (2030)
Entry at $75M
0.7×
Bear
4.8×
Base
7.2×
Bull
Risk & Opportunity Landscape — Probability vs Valuation Impact
Bubble size = relative magnitude. Red = risks. Teal/green = upside opportunities. Runway constraint is the highest-probability near-term risk. Strategic investor is the highest-impact upside driver.

Risk Landscape — Plain Language

High Probability · Near-Term
Runway Constraint
~One month of operating runway as of March 2026. The first drop must generate sufficient revenue to bridge to Batch 2 without emergency capital. This is what makes the current entry window both urgent and compelling.
Medium · Structural
Supply Chain Concentration
TopSheng is primary manufacturer, operating in China. Tariff environment introduces logistics exposure. RLP and MorphoMFG provide partial mitigation. Domestic pathway for Rx track is on medium-term roadmap.
Low · Timing Risk
Regulatory Timing — Model E
Class II 510(k) clearance timelines are subject to agency scheduling. Predicate device pathway well-established. TopSheng ISO 13485 eliminates most common rejection risk. OTC track is entirely unaffected.
Opportunity · Upside Driver
Strategic Investor Multiplier
A single investor with meaningful distribution into PT, podiatry, dermatology, or sports recovery could double the base case valuation at no additional dilution. The $70K LOI is direct evidence the channel is active. The right introduction is worth more than the capital.

What We Are Looking For

Immediate — First Drop Operations

Modest operational capital to ensure the first drop executes cleanly — campaign assets, fulfillment costs, runway extension through initial sell-through. Investors who enter now receive the most favorable terms in the company's history. The ask is small. The entry multiple is 113× at base case.

Near-Term — Batch 2 + Foot SOKY (~$10K–$30K)

$15,000 unlocks the Foot SOKY single-cavity mold — a second complete product family, three new SKUs, a second body zone, and the opening of the footcare channel. An additional $10,000–$15,000 accelerates size expansion into triple-cavity tooling.

Strategic Investment

NM Thera actively seeks investors whose networks accelerate distribution, clinical validation, or retail presence. A pathway to Therabody, HyperIce, a medical device distributor, a professional sports recovery network, or a practitioner channel creates value that exceeds the dollar amount of the check by a significant multiple.

Analyst Conclusion · March 2026 Valuation Report
"NM Thera is priced at $3.2M at a moment when the option value of the platform — a patented, defensible, no-direct-competitor wearable soak system positioned across a $597B TAM — is substantially larger than the current price implies. The runway constraint creates a near-term execution risk that is real but not structural. An investor entering at $3.2M today with a ten-year hold and $361M exit achieves a ~113× return on base case, or ~200× on the bull case. In a volatile macro environment where most early-stage investments are speculative narrative plays, NM Thera has an issued patent, a validated manufacturing partner, documented clinical evidence, and a signed LOI as tangible anchors. This is an asymmetric bet worth taking at the right check size."
"We are building this not as a product company but as a proof of concept. A demonstration that health technology can be humane, accessible, repairable, and financially sustainable at the same time."
— NM Thera Manifesto, 2026

Confidentiality Notice. This document contains proprietary and confidential information belonging to NM Therapeutics, Inc. It is provided solely for the use of the named recipient and may not be reproduced, disclosed, or distributed without prior written consent. All financial projections are forward-looking and subject to material risks and uncertainties.

NM Therapeutics, Inc. · kenny@nmthera.com · 714-782-2843 · nmthera.com · Eastvale, CA

SOKY supports personal care routines. It is not intended to diagnose, treat, cure, or prevent any disease or medical condition.

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