Program to Offer Licenses to Fundamental Fractional Patent Families
BURLINGTON, Mass., Nov. 11 /PRNewswire-FirstCall/ -- Palomar Medical Technologies, Inc. (Nasdaq: PMTI) and Reliant Technologies, Inc., today announced the formation of a Fractional Technology Open Patent Program ("FTOPP") to offer licenses in the professional field to key intellectual property in the fractional space. The FTOPP contains six fundamental fractional patent families including issued patents and pending patent applications owned or controlled by Palomar, Reliant and Massachusetts General Hospital ("MGH"). In addition to this program Palomar and Reliant have entered into certain cross-licenses between the two companies.
Fractional light-based treatments deliver laser or high-powered light energy in a pattern that leaves untreated areas of skin between the treated areas of skin. The healthy, untreated areas promote faster healing of the treated areas and stimulate increased clinical response as compared to standard full surface treatments. Clinical studies show fractional treatments can increase both efficacy and safety.
Fractional treatments have quickly become one of the most widely accepted and sought after new dermatology treatments. In response, many companies have launched new fractional products to meet the large market demand.
As pioneers of fractional technology, Palomar, Reliant and MGH are the owners of the fundamental intellectual property in this area. In order to encourage further development of fractional products while also seeking compensation for their early, ground breaking work, Palomar, Reliant and MGH have created the FTOPP to provide others in the industry the opportunity to license the necessary intellectual property.
"We are excited to be a part of this program," said Dr. R. Rox Anderson, Director of the Wellman Center for Photomedicine, Massachusetts General Hospital. "Fractional treatment is a broad technology that enhances safety and efficacy over that of traditional light-based aesthetic treatments. Our work has already helped many people around the world. This program enables participants to benefit from years of research and continue development of an important new approach."
"Palomar is recognized as a technology leader with one of the strongest intellectual property portfolios and patent enforcement strategies in the industry," said Joe Caruso, President and CEO of Palomar Medical Technologies. "The FTOPP presents a compelling collection of intellectual property assets that are necessary to operate in the fractional space. We believe companies exploiting fractional technology will find it in their interest to take an FTOPP license and not risk the consequences of infringing such a large number of patents."
"Investing in innovation is key to the success of Reliant Technologies and it is imperative that Reliant protect the value of its inventions," said Eric Stang, President and CEO of Reliant Technologies. "By forming this FTOPP in conjunction with Palomar and MGH, we are making it possible for companies to access and take advantage of fundamental intellectual property in the fractional space."
The FTOPP comprises six patent families, including eleven issued and pending U.S. patents and applications, along with foreign counterparts. Included in the FTOPP from Palomar Medical Technologies are: U.S. patent number 6,997,923 and patent application number 11/235,697 (the "923" patent family -- jointly owned with and licensed by Palomar from MGH); and U.S. patent number 6,723,090 and patent application number 11/408,272 (the "Fiber Laser" patent family). Included in the FTOPP from Reliant are: U.S. patent numbers 6,632,219 and 6,059,820 and patent application number 11/250,139 (the "Tankovich-Baranov" patent family, named for early inventors in the fractional space Dr. Nikolai Tankovich and Dr. Eugene Baranov) ; U.S. patent application number 10/542,390 (the "1678" patent family licensed by Reliant from MGH); and U.S. patent application number 10/367,582 (the "582" patent family). Also included in the FTOPP from MGH is U.S. patent number 7,331,953 and patent application number 11/931,232 (the"953" patent family).
Recently, it was announced that Reliant has agreed to join forces with Thermage, Inc. (Nasdaq: THRM) in a merger expected to close in the Fourth quarter 2008. For more information, visit http://www.fraxel.com.
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 Reliant Technologies: Reliant Technologies develops clinical
solutions to rejuvenate aging and environmentally damaged skin. Reliant is
dedicated to providing the most ergonomic and effective products to the
global aesthetic marketplace. The company pioneered the development of
fractional laser resurfacing that relies on novel high-speed scanning
systems and the Intelligent Optical Tracking(R) system to produce safe and
effective results with minimal recovery time. Reliant is based in Mountain
View, Calif. The Fraxel(R) family of products, which includes the Fraxel
re:pair(TM), Fraxel re:store(TM) and Fraxel re:fine(TM) laser systems, has
quickly become the industry standard for fractional aesthetic skin
treatment. Unlike laser devices of the past, Fraxel brand laser systems
treat microscopic volumes of skin with each unique pulse, leaving the
surrounding area intact for fast healing. Fraxel lasers have received
multiple FDA clearances and have been found safe and effective in treating
many areas of the face and body. The versatility of the product line
ensures that patients can choose the best treatment for various stages of
their lives as their skin care needs evolve.
Contacts: Kayla Castle
Investor Relations Manager
Palomar Medical Technologies, Inc.
|SOURCE Palomar Medical Technologies, Inc.|
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