BURLINGTON, Mass., Dec. 20 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies, Inc. (Nasdaq: PMTI), a leading researcher and developer of
light-based systems for cosmetic treatments, announced today that yesterday
Candela Corporation (Nasdaq: CLZR) filed a responsive patent infringement
lawsuit against Palomar in the Eastern District of Texas, Lufkin Division.
The complaint alleges that Palomar's LuxY and Lux1540 handpieces for use
with the StarLux Laser and Pulsed Light System willfully infringe United
States Patent Nos. 5,810,801, 6,659,999 and 6,120,497. Palomar will
vigorously defend against this action, as Palomar believes its products do
not infringe these patents and that these patents are invalid over prior
art.
Patricia Davis, Senior Vice President and General Counsel of Palomar,
commented, "This is a defensive maneuver on Candela's part and one that is
not unexpected. This is not the first time that Candela has threatened
Palomar with these patents. Candela asserted the 6,659,999 patent in an
earlier lawsuit in Massachusetts against Palomar. However, Candela dropped
the patent from that lawsuit presumably after they realized that the
accused product, Palomar's LuxG handpiece for use on the StarLux System,
did not infringe that patent."
Ms. Davis continued, "On August 9, 2006, Palomar filed a lawsuit
against Candela in Massachusetts accusing Candela's light-based hair
removal systems, including the GentleLase and GentleYag Systems, of
infringing U.S. Patent No. 5,735,844 ("the '844 Patent"). We believe both
Candela's latest lawsuit and the earlier lawsuit are in response to
Palomar's August 9th lawsuit. Because Candela has been selling the accused
products for many years, if Palomar is successful in its lawsuit, Candela
could be ordered to pay tens of millions of dollars in damages for prior
sales. In addition, since Candela received formal notice letters from
Palomar regarding the '844 Patent since 1999, Candela may be found to have
willfully infringed this patent and may be ordered to pay up to triple the
original damages. Importantly, if Palomar is successful in seeking an
injunction, Candela would be ordered to stop selling its infringing
products. Palomar's lawsuit against Candela has recently been transferred
to the same Judge that presided over Palomar's lawsuit against Cutera."
Joseph P. Caruso, President and Chief Executive Officer of Palomar,
commented, "Palomar's lawsuit against Candela is part of our on-going
patent enforcement strategy. The patents Palomar has asserted against
Candela include the same patents that Palomar has successfully asserted
against others with the same technology. We have received approximately $60
million to date from these efforts and intend to continue with this
successful strategy."
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.
On December 8, 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 uniquely focused on developing
proprietary light- based technology for introduction to the mass markets.
Palomar has an agreement with The Gillette Company to develop and
potentially commercialize a patented home-use, light-based hair removal
device for women. Palomar also has an 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, and
was awarded a contract by the Department of the Army to develop a
light-based, self-treatment device for Pseudofolliculitis Barbae ("PFB").
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 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 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, 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, 2005 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
Investor Relations Manager
Palomar Medical Technologies, Inc.
781-993-2411
ir@palomarmedical.com
SOURCE Palomar Medical Technologies, Inc.
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Related links:
http://www.palmed.com
http://www.palomarmedical.com
http://www.prnewswire.com/comp/107555.html/
CONTACT:
Kayla Castle, Investor Relations Manager of
Palomar Medical Technologies, Inc., +1-781-993-2411,
ir@palomarmedical.com
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