Key Developments For Palomar Medical Technologies, Inc.
Palomar Medical Technologies, Inc. (PMTI.O) (Nasdaq)
Palomar Medical Technologies, Inc. To Commercialize FDA Cleared Over The Counter Home Use Wrinkle Treatment Laser Device Without Johnson & Johnson
Palomar Medical Technologies, Inc. announced the termination of its agreement with Johnson & Johnson Consumer Companies Inc (JJCC), a Johnson & Johnson company, to develop, clinically test and commercialize home use, light based devices for (i) reducing or reshaping body fat including cellulite; (ii) reducing appearance of skin aging; and (iii) reducing or preventing acne. Despite Palomar having met all of its deliverables under the agreement, JJCC terminated the agreement referencing the current unfavorable economic conditions as the reason for its decision. With this decision, JJCC avoids having to make a large commercialization payment to Palomar and avoids having to commit to the significant level of funding required to successfully launch a new product into the mass market. Upon termination of the agreement, JJCC's license to Palomar technology was terminated and all technology and intellectual property rights related to light-based devices developed under the agreement were assigned to Palomar. JJCC is also precluded from further development or commercialization of the light-based devices developed under the agreement.
Palomar Medical Technologies, Inc. Successful in U.S. Patent Office Re-Examination of Second Hair Removal Patent
Palomar Medical Technologies, Inc. announced that the U.S. Patent and Trademark Office (the Patent Office) has confirmed the validity of all claims in the re-examination of U.S. Patent No. 5,595,568 (the 568 patent), entitled Permanent Hair Removal Using Optical Pulses. Rejecting Candela's and another company's arguments to the contrary, the U.S. Patent Office confirmed that claims 1-10, 13, 14, 18, and 19 of the '568 patent are valid and patentable. As part of the re-examination process, Palomar added 2 new claims (23-24) to the '568 patent, and the Patent Office also confirmed these new claims as valid and patentable. Claims 11, 12, 15, 16, 17, 20, 21 and 22 were not under re-examination. Consequently, all claims of the '568 patent are valid.
Palomar Medical Technologies, Inc. Announces U.S. Patent Office Re-Examination Of Hair Removal Patent
Palomar Medical Technologies, Inc. announced that the U.S. Patent and Trademark Office has confirmed the validity of 56 claims in the re-examination of U.S. Patent No. 5,735,844, entitled 'Hair Removal Using Optical Pulses'. Rejecting Candela's and another Company's arguments to the contrary, the U.S. Patent Office confirmed that claims 1-3, 6-8, 11, 17-20, 27, 28, 30, 32 of the '844 patent are valid and patentable. As part of the re-examination process, Palomar added 26 new claims (33-59) to the '844 patent, and the Patent Office also confirmed these new claims as valid and patentable.
Palomar Medical Technologies, Inc. Receives FDA Over-The-Counter Clearance for Home Use Wrinkle Removal Laser Device
Palomar Medical Technologies, Inc. announced that it has received a 510(k) over-the-counter (OTC) clearance from the United States Food and Drug Administration (FDA) for a new, patented, home use, laser device for the treatment of periorbital wrinkles. OTC clearance allows the device to be marketed and sold directly to consumers without a prescription.
Palomar Medical Technologies, Inc. Announces New Clinical Data Shows Significant Improvement In Appearance of Fat Using SlimLipo Laser
Palomar Medical Technologies, Inc. announced the success of a clinical study showing the benefits of the SlimLipo body sculpting laser for laser assisted lipolysis. Cleared by the Federal Drug Administration (FDA) in April of 2008, the SlimLipo laser is now available with 40 watts of power for faster, more effective treatments. SlimLipo is equipped with the dual laser wavelengths of 924 nm and 975 nm for preferential absorption by fat and dermal tissue, respectively, resulting in efficient fat melting with less contour deformities and faster patient recovery, as seen by a recent study published in US Dermatology, by Dr. Robert Weiss, Director of the Maryland Laser, Skin, and Vein Institute. Dr. Weiss' study found that all of the subjects agreed that the SlimLipo treatment significantly improved the appearance of fat. SlimLipo allows physicians to remove excess fat and tighten the skin through laser assisted lipolysis in one step. In fact, the study by Dr. Weiss found that patients felt a difference in the smoothness (83%) and tightness of their skin (67%) right after the SlimLipo treatment, with 100% of patients seeing an improvement in skin's smoothness and tightness in three months after the laser treatment.
