BURLINGTON, Mass., April 3 /PRNewswire-FirstCall/ --
Palomar Medical Technologies, Inc. (Nasdaq: PMTI) announced two new
handpieces, the LuxV(TM) and the LuxB(TM), for the Palomar EsteLux(TM) Pulsed
Light System at the American Academy of Dermatology's (AAD) 61st Annual
Meeting, in San Francisco, held from March 21st to 26th. The LuxV handpiece
provides for fast and effective treatment of pigmented lesions and mild to
moderate acne (pending FDA clearance). The LuxB handpiece allows for effective
treatment of lighter pigmented lesions on fair skin as well as leg and spider
veins. As a result, Palomar now offers six versatile handpieces for the
EsteLux system.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000308/PMTILOGO )
In addition, Palomar launched a new platform, the Palomar MediLux(TM)
Pulsed Light System. This system provides physicians with higher power and a
higher repetition rate than the EsteLux(TM) system. The MediLux system, like
the EsteLux system, has six versatile handpieces, including the LuxV, LuxB,
LuxY, LuxG, LuxR and LuxRs, and can be used for the removal of hair and
treatment of pigmented and vascular lesions and acne (pending FDA clearance).
The MediLux system offers a new snap-on connector making it easy to switch
between handpieces and provide treatments tailored to each individual.
Chief Executive Officer Joseph P. Caruso commented, "Palomar came to this
year's AAD meeting feeling particularly invigorated having recently signed an
agreement with The Gillette Company (NYSE: G) to complete development and
commercialize a patented home-use, light-based hair removal device for women.
Along with this momentum, we were able to announce at the AAD several new
handpieces and a new platform. Needless to say, we believe 2003 will be a very
exciting year for Palomar."
Caruso continued, "Palomar is proud of its continued improvement to the
EsteLux system platform including both new handpieces and the new MediLux
system platform. Palomar has kept its commitment to continually provide value
to customers who invest in our platforms. The EsteLux and MediLux systems are
the most affordable pulsed light systems on the market and the handpieces each
have a one-year unlimited shots warranty."
Chief Financial Officer Paul S. Weiner commented, "We have recently
completed a very successful west coast roadshow where we met with managers of
numerous investment funds to discuss Palomar's strategic initiative and growth
potential. The tremendous interest generated in Palomar through these meetings
is not surprising given the recent $3.4 million investment from Craig Drill
Capital in New York City. We look forward to continued positive meetings with
investors and fund managers in 2003."
About Palomar Medical Technologies Inc:
Palomar is a leading researcher and developer of light-based systems for
hair removal and other cosmetic treatments. Recently, 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 1996, 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 hair removal 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.palmed.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.palmed.com
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CONTACT:
Paul S. Weiner, Chief Financial Officer for
Palomar Medical Technologies Inc, +1-781-993-2411, ir@palmed.com
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