BURLINGTON, Mass., July 23 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies, Inc. (Nasdaq: PMTI), a leading researcher and developer of
light-based systems for cosmetic treatments, announced today that it has
entered into a Distribution Agreement with Astron Clinica, Ltd. to
distribute a range of aesthetic imaging products in the United States and
Canada.
The agreement gives Palomar exclusive distribution rights to sell Beau
Visage(TM), a clinically proven skin imaging and consultation system, to
medical professionals. Palomar's customers can use Beau Visage(TM) during
initial client meetings to visualize and measure blood, pigment, and
wrinkles before recommending the most effective cosmetic treatments
available using Palomar's StarLux(TM) Laser and Pulsed Light System.
Palomar's customers can use Beau Visage during subsequent visits to show
changes in their clients' skin by tracking and measuring actual improvement
in skin appearance. Providing such quantifiable data on changes in skin
health should greatly improve client satisfaction.
Customers using Beau Visage in conjunction with Palomar products are
able to better tailor treatments to the specific needs of each client and
then demonstrate and quantify the before-and-after effect of Palomar
treatments. This should enable Palomar customers to sell more treatments,
thereby increasing revenue and decreasing time to return on investment in
Palomar aesthetic light based systems.
Also under the Distribution Agreement, Palomar will sell Astron
Clinica's Physiometrics(TM) photographic imaging system which captures a
library of images of the body. This new technology will allow for visual
documentation of the benefits that will be seen using the recently
introduced Palomar Aspire(TM) SlimLipo(TM) laser-assisted lipolysis system.
Commenting on this agreement Joseph P. Caruso, Chief Executive Officer
of Palomar, said, "Working with Astron Clinica enables Palomar to sell
additional products to its customers that help them increase revenues and
improve client satisfaction. Our customers will be able to use Astron
Clinica products to sell more aesthetic procedures, which are better
tailored to the needs of each specific client, and show clients their
actual improvement."
Prof. Annie Brooking, CEO of Astron Clinica, said, "We are delighted
with this relationship with Palomar, the industry leader in light-based
aesthetic products. The products of Palomar and Astron Clinica are truly
synergistic and enable both companies to deliver a superior service to our
customers."
About Palomar Medical Technologies, Inc.: Palomar is a leading
researcher and developer of light-based systems for cosmetic treatments.
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. In December 2006, Palomar became the first company to
receive a 510(k) over-the-counter (OTC) clearance from the United States
Food and Drug Administration (FDA) for a new, patented, home use,
light-based hair removal device. OTC clearance allows the product to be
marketed and sold directly to consumers without a prescription. There are
now millions of light-based cosmetic procedures performed around the world
every year in physician offices, clinics, spas and salons. Palomar is
testing many new and exciting applications to further advance the hair
removal market and other cosmetic applications. Palomar is focused on
developing proprietary light-based technology for introduction to the mass
markets. Palomar has granted The Procter & Gamble Company a non-exclusive
License Agreement to certain patents, technology and FDA documents related
to the home-use, light-based hair removal field for women. In addition,
Palomar has an exclusive development and license agreement with Johnson &
Johnson Consumer Companies to develop and potentially commercialize
home-use, light-based devices for reducing or reshaping body fat including
cellulite, reducing the appearance of skin aging, and reducing or
preventing acne.
About Astron Clinica, Ltd.: Astron Clinica is a global skin imaging
company, based in Cambridge UK and with offices in New York and Brisbane.
Astron Clinica designs, develops and brings to market skin imaging products
that incorporate its proprietary skin imaging technology SIAscopy(TM).
SIAscopy(TM) uniquely enables medical, pharmaceutical, cosmetic and
aesthetic industry professionals to visualize up to 2mm beneath the surface
of the skin using both a proprietary hand held scanner and an off-the-shelf
digital camera. Awarded Frost & Sullivan's 2006 European Technology
Innovation of the Year Award, Astron Clinica's products use SIAscopy(TM) to
allow the measurement and non-invasive visualization of the major
dermatological constituents of skin -- blood, pigment and collagen -- in
vivo for the first time. SIAscopy(TM) is a technology that is trusted
globally to help diagnose skin conditions as severe as skin cancer. Astron
Clinica's customers include dermatologists, plastic surgeons, hospitals,
GPs, beauty clinics and aesthetic medicine practitioners.
This press release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on the Company's current expectations,
plans, intentions, beliefs or predictions. These forward-looking statements
are neither promises nor guarantees, but 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 and government contracts, the impact of
competitive products and pricing, governmental regulations with respect to
medical devices, including whether FDA clearance will be obtained for
future products and additional applications, the results of litigation,
including patent infringement lawsuits, difficulties in collecting
royalties, potential infringement of third-party intellectual property
rights, factors affecting the Company's future income and resulting ability
to utilize its NOLs, 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, 2007 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: Kayla Castle Prof. Annie Brooking
Investor Relations Manager Chief Executive Officer
Palomar Medical Technologies, Inc. Astron Clinica, Ltd.
781-993-2411 +44 1223 265000
kcastle@palomarmedical.com
SOURCE Palomar Medical Technologies, Inc.
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Related links:
http://www.palmed.com
http://www.prnewswire.com/comp/107555.html /
CONTACT:
Kayla Castle, Investor Relations Manager of
Palomar Medical Technologies, Inc., +1-781-993-2411,
kcastle@palomarmedical.com; or Prof. Annie Brooking, Chief
Executive Officer of Astron Clinica, Ltd., +44-1223-265000
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