BURLINGTON, Mass., Dec. 4 /PRNewswire/ --
Palomar Medical Technologies Inc (Nasdaq: PMTI) today announced that it has
reached an agreement with Asclepion-Meditec AG (Securities Id. No.; 531 370
ticker symbol AFX: http://www.asclepion.com), a company listed on the Neuer Markt in
Frankfurt, granting them a non-exclusive 7.5% royalty bearing sublicense to
key patents in the field of laser / light-based hair removal. Palomar has
previously granted similar sublicenses to Coherent Medical (acquired by ESC,
now Lumenis), Laserscope and Iridex.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000308/PMTILOGO )
Louis P. (Dan) Valente, chairman and chief executive officer of Palomar,
commented "We are extremely pleased to work with Asclepion-Meditec. This
agreement once again confirms the interest in our technology. Our license
program has given us the opportunity to work with many companies in our field
and offer the latest breakthrough in technology to consumers worldwide.
Valente continued "To remain the industry technology leader, we continue
to work on laser / light-based cosmetic technology through our research and
development efforts. Our intellectual property and the patent portfolio
protecting that property are among the most advanced and strongest in the
industry. We believe our license program can continue to be expanded
throughout the industry thereby increasing the profitability of our
intellectual property portfolio. We will continue to aggressively pursue any
person or company that offers products that the company believes infringe on
one or more of its patents or on patents licensed exclusively to the company."
About Asclepion-Meditec AG: Asclepion-Meditec is a global innovation and
technology leader in the field of laser medicine. Asclepion-Meditec was one
of the first companies to develop an excimer laser for refractive surgery in
1986, a YAG laser for photo disruption in 1981, and an Erbium laser for
dentistry in 1991. The company is the largest European manufacturer of laser
systems for Ophthalmology (vision correction and eye disease), Dermatology
(aesthetic applications like hair removal or tattoo removal) and Dentistry
(pain free caries treatment). Asclepion-Meditec has a leading position in
customized ablation with a large installed base of excimer lasers linked to
topography and the highest precision wavefront technology available in the
world market.
About Palomar Medical Technologies Inc: Palomar is a leading researcher
and developer of proprietary laser/light based systems for hair removal and
other cosmetic treatments and is the first company to obtain clearance from
the FDA for "permanent hair reduction." Palomar hair removal systems have been
installed in physician practices worldwide, and hundreds of thousands of
treatments have been performed. New and exciting indications are being tested
to further advance the hair removal market and other cosmetic applications
including fat reduction, acne treatment and skin rejuvenation.
To get more information regarding Palomar and its products, please visit
Palomar's web site at http://www.palmed.com. Also, to continue to receive 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 web site.
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, 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,
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,
2000 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.
Contact: Paul S. Weiner
Treasurer
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, Treasurer of Palomar Medical
Technologies, Inc., +1-781-993-2411, or ir@palmed.com
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