BURLINGTON, Mass., Sept. 7 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies Inc (Nasdaq: PMTI) said today that they signed an agreement with
Johnson & Johnson Consumer Companies, Inc ("JJCC"), a Johnson & Johnson
company, to develop, clinically test and potentially commercialize home-use,
light-based devices for (i) reducing or reshaping body fat including
cellulite; (ii) reducing appearance of skin aging; and (iii) reducing or
preventing acne.
The agreement provides for JJCC to fund Palomar's development and clinical
studies during an initial proof-of-principle phase.
Commenting on the agreement, Palomar Chief Executive Officer Joseph P.
Caruso said, "This agreement with JJCC enables Palomar to continue early-stage
research and development of light-based technology in a wide-array of fields
for introduction to the consumer market. We are positioned with the best
possible partner in these fields."
The agreement provides for continued research and development of light-
based technology and even possible product commercialization, if testing and
regulatory requirements are met. Further details of the agreement are
contained in a corresponding filing with the Securities and Exchange
Commission.
About Palomar Medical Technologies Inc: Palomar is a leading researcher
and developer of light-based systems for hair removal and other cosmetic
treatments. 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.
Contacts:
Investor Relations
Palomar Medical Technologies Inc
781-993-2411
ir@palomarmedical.com
SOURCE Palomar Medical Technologies, Inc.
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http://www.palomarmedical.com
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CONTACT:
Investor Relations: Palomar Medical
Technologies Inc, +1-781-993-2411, ir@palomarmedical.com
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