BURLINGTON, Mass., May 11 /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 Quantel SA (Euronext: QUA), a leading manufacturer of solid state lasers, for Quantel's SINON(TM) Q-switched ruby laser system for tattoo removal in the United States and Canada.
The SINON Q-switched ruby laser was developed by Quantel Derma GmbH (formerly WaveLight Aesthetic GmbH) based in Erlangen, Germany. Its speed and clinical efficacy make the SINON the choice of leading experts in aesthetic dermatology for tattoo removal. The SINON(TM) Q-switched ruby laser will be exclusively marketed by Palomar in the United States and Canada. Quantel Derma USA based in Bozeman, Montana will be in charge of installation and technical support of the systems.
Chief Executive Officer Joseph P. Caruso commented, "We are pleased to become the exclusive distributor for Quantel Derma's SINON Q-Switched ruby laser for tattoo removal in the United States and Canada. With the shortest pulse and highest peak power of all ruby lasers available, the SINON ruby laser is optimized to treat the more complex and difficult to remove tattoos you see today."
Alain de Salaberry, Quantel's President Director General said, "Its strong sales force and its experience with Q-switch ruby lasers make Palomar an ideal partner for the marketing of Quantel's SINON system."
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 The Quantel Group: Founded in 1970, the QUANTEL Group has over the last 10 years established itself as one of the world's leading specialists for scientific (research laboratories, universities), industrial (micromachining, metrics, military) and medical (ophthalmology, dermatology) laser technologies.
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, 2008 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 Sanford Lane Investor Relations Manager Chief Executive Officer Palomar Medical Technologies, Inc. Quantel Derma USA, Inc. 781-993-2411 508-654-0310 firstname.lastname@example.org SLane@quantelmedical.com
|SOURCE Palomar Medical Technologies, Inc.|
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