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Palomar Seeks to License Additional Companies to Home-Use Light-Based Hair Removal Technology
Date:3/3/2008

stigate new distribution strategies with the benefit of having completed substantial development over the past 5 years. One distribution strategy we will consider is initiating discussions with other strategic partners. This technology could revolutionize the standard of home hair management for women, a $10 billion per year category. Professional light-based hair removal treatments are among the most popular cosmetic treatments offered today with millions of treatments performed each year. However, years ago, we recognized that if light-based hair removal could be brought into the home, the market opportunity would be vastly larger and would further increase professional system sales by increasing consumer awareness. With that in mind, we invested significant resources in research, development and patent protection to make this a reality and ensure that Palomar would be the leader with this innovative technology. We look forward to continuing this strategy."

Caruso continued, "When we first started working with Gillette in 2003, we had a unique concept and had performed clinical tests to confirm proof of principle. While working with Gillette, we were successful in developing prototypes that were tested on hundreds of subjects, we collected data on consumer preferences that will be important in our final product, we developed low cost manufacturing strategies and we advanced our technology from one product to multiple product offerings. Our intellectual property position has also been advanced by adding unique technology to our portfolio that will strengthen and extend our proprietary position."

The description above is qualified in its entirety by reference to the License Agreement, copies of which are attached to a Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference.

About Palomar Medical Technologies Inc: Palomar is a leading researcher and developer of light-based systems for cosmetic treatments. Palomar pioneered the o
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SOURCE Palomar Medical Technologies, Inc.
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