BURLINGTON, Mass., March 1 /PRNewswire-FirstCall/-- Palomar Medical
Technologies Inc (Nasdaq: PMTI) today announced that the United States
District Court for the District of Massachusetts issued a "Markman" ruling
Friday, February 27, 2004 in the ongoing patent infringement action between
Palomar and Cutera, Inc. (formerly Altus Medical Inc.). The ruling represents
a major step in Palomar's efforts to enforce its patent portfolio and will
have considerable impact on the case as it proceeds toward trial. If Palomar
prevails at trial, Cutera may be ordered to pay millions in damages for past
sales and may also be ordered to stop selling any products that perform hair
removal.
In the ruling, the District Court largely embraced Palomar's position,
finding for Palomar on critical issues dealing with U.S. patent 5,735,844. The
ruling arises from a Markman Hearing, where both sides presented their
arguments to the Court on the interpretation of the patent claims at issue.
The Markman ruling establishes the scope of the patent claims and how the
patent terms should be constructed or defined. A copy of the Court's Markman
Order is available at: http://pacer.mad.uscourts.gov/recentopinions.html.
The legal precedent from a Markman Hearing can be determinative of the
outcome at trial on issues of validity and infringement of patents. For
example, the District Court ruled in favor of Palomar over Cutera that one of
the patent claims at issue does not require contact between the hair removal
device and the skin. Chief Executive Officer Joseph P. Caruso commented, "We
are very pleased with the Court's interpretation of the scope of the claims we
are asserting against Cutera. We believe the Judge's claim construction ruling
is a clear win for Palomar."
General Counsel Patricia A. Davis, a registered patent attorney,
commented, "The Court's ruling validates our belief not only in the strength
of this patent but also in the corresponding family of patents. The family of
patents associated with U.S. Patent 5,735,844 includes another U.S. patent
5,595,568, a European patent EP 0 806 913 B1 and additional corresponding
foreign patent applications. Palomar has also been notified that a second
European Patent will be granted and, like the patent at issue, includes claims
that cover Cutera's products."
Palomar currently sub-licenses two competitors to this patent family for a
7.5% royalty on their products. In addition, Palomar has filed a claim against
Lumenis, Inc. for patent infringement of both U.S. patents 5,595,568 and
5,735,844 in the United States District Court for the Northern District of
California.
About Palomar Medical Technologies Inc: Palomar is a leading researcher
and developer of light-based systems for hair removal and other cosmetic
treatments. Last year, Palomar and The Gillette Company (NYSE: G) entered into
an agreement to complete development and commercialize a patented home-use,
light-based hair removal device for women. New and exciting indications are
being tested to further advance the hair removal market and other cosmetic
applications. Palomar pioneered the optical hair removal field, when, in 1997,
it introduced the first high-powered laser hair removal system. Since then,
many of the major advances in light-based hair removal have been based on
Palomar technology. There are now millions of light-based cosmetic procedures
performed around the world every year in physician offices, clinics, spas and
salons.
For more information on Palomar and its products, visit Palomar's website
at http://www.palomarmedical.com. To continue receiving the most up-to-date
information and latest news on Palomar as it happens, sign up to receive
automatic e-mail alerts by going to the E-mail Alerts page in the Investor
Relations' section of the website.
With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements,
including but not limited to statements relating to new markets, development
and introduction of new products, and financial projections that involve risk
and uncertainties that may individually or mutually impact the matters herein,
and cause actual results, events and performance to differ materially from
such forward-looking statements. These risk factors include, but are not
limited to, results of future operations, technological difficulties in
developing or introducing new products, the results of future research, lack
of product demand and market acceptance for current and future products, the
effect of economic conditions, challenges in managing joint ventures and
research with third parties, the impact of competitive products and pricing,
governmental regulations with respect to medical devices, including whether
FDA clearance will be obtained for future products, the results of litigation,
difficulties in collecting royalties, potential infringement of third-party
intellectual property rights, and/or other factors, which are detailed from
time to time in the Company's SEC reports, including the report on Form 10-K
for the year ended December 31, 2002 and the Company's quarterly reports on
Form 10-Q. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. The Company
undertakes no obligation to release publicly the result of any revisions to
these forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contacts:
Paul S. Weiner
Chief Financial Officer
Palomar Medical Technologies Inc
781-993-2411
ir@palmed.com
SOURCE Palomar Medical Technologies Inc.
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Related links:
http://www.palomarmedical.com
Company News On-Call:
http://www.prnewswire.com/comp/107555.html
CONTACT:
Paul S. Weiner, Chief Financial Officer,
Palomar Medical Technologies Inc, +1-781-993-2411, ir@palmed.com
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