BURLINGTON, Mass., Nov. 11 Palomar MedicalTechnologies, Inc. (Nasdaq: PMTI) and Reliant Technologies, Inc., todayannounced the formation of a Fractional Technology Open Patent Program("FTOPP") to offer licenses in the professional field to key intellectualproperty in the fractional space. The FTOPP contains six fundamentalfractional patent families including issued patents and pending patentapplications owned or controlled by Palomar, Reliant and Massachusetts GeneralHospital ("MGH"). In addition to this program Palomar and Reliant haveentered into certain cross-licenses between the two companies.
Fractional light-based treatments deliver laser or high-powered lightenergy in a pattern that leaves untreated areas of skin between the treatedareas of skin. The healthy, untreated areas promote faster healing of thetreated areas and stimulate increased clinical response as compared tostandard full surface treatments. Clinical studies show fractional treatmentscan increase both efficacy and safety.
Fractional treatments have quickly become one of the most widely acceptedand sought after new dermatology treatments. In response, many companies havelaunched new fractional products to meet the large market demand.
As pioneers of fractional technology, Palomar, Reliant and MGH are theowners of the fundamental intellectual property in this area. In order toencourage further development of fractional products while also seekingcompensation for their early, ground breaking work, Palomar, Reliant and MGHhave created the FTOPP to provide others in the industry the opportunity tolicense 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 GeneralHospital. "Fractional treatment is a broad technology that enhances safetyand efficacy over that of traditional light-based aesthetic treatments. Ourwork has already helped many people around the world. This program enablesparticipants to benefit from years of research and continue development of animportant new approach."
"Palomar is recognized as a technology leader with one of the strongestintellectual property portfolios and patent enforcement strategies in theindustry," said Joe Caruso, President and CEO of Palomar Medical Technologies."The FTOPP presents a compelling collection of intellectual property assetsthat are necessary to operate in the fractional space. We believe companiesexploiting fractional technology will find it in their interest to take anFTOPP license and not risk the consequences of infringing such a large numberof patents."
"Investing in innovation is key to the success of Reliant Technologies andit is imperative that Reliant protect the value of its inventions," said EricStang, President and CEO of Reliant Technologies. "By forming this FTOPP inconjunction with Palomar and MGH, we are making it possible for companies toaccess and take advantage of fundamental intellectual property in thefractional space."
The FTOPP comprises six patent families, including eleven issued andpending U.S. patents and applications, along with foreign counterparts.Included in the FTOPP from Palomar Medical Technologies are: U.S. patentnumber 6,997,923 and patent application number 11/235,697 (the "923" patentfamily -- 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 "FiberLaser" patent family). Included in the FTOPP from Reliant are: U.S. patentnumbers 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 fractionalspace Dr. Nikolai Tankovich and Dr. Eugene Baranov) ; U.S. patent applicationnumber 10/542,390 (the "1678" patent family licensed by Reliant from MGH); andU.S. patent application number 10/367,582 (the "582" patent family). Alsoincluded in the FTOPP from MGH is U.S. patent number 7,331,953 and patentapplication number 11/931,232 (the"953" patent family).
Recently, it was announced that Reliant has agreed to join forces withThermage, Inc. (Nasdaq: THRM) in a merger expected to close in the Fourthquarter 2008. For more information, visit www.fraxel.com.
About Palomar Medical Technologies, Inc.: Palomar is a leading researcherand developer of light-based systems for cosmetic treatments. Palomarpioneered the optical hair removal field, when, in 1997, it introduced thefirst high-powered laser hair removal system. Since then, many of the majoradvances in light-based hair removal have been based on Palomar technology. InDecember 2006, Palomar became the first company to receive a 510(k)over-the-counter (OTC) clearance from the United States Food and DrugAdministration (FDA) for a new, patented, home use, light-based hair removaldevice. OTC clearance allows the product to be marketed and sold directly toconsumers without a prescription. There are now millions of light-basedcosmetic procedures performed around the world every year in physicianoffices, clinics, spas and salons. Palomar is testing many new and excitingapplications to further advance the hair removal market and other cosmeticapplications. Palomar is focused on developing proprietary light-basedtechnology for introduction to the mass markets. Palomar has granted TheProcter & Gamble Company a non-exclusive License Agreement to certain patents,technology and FDA documents related to the home-use, light-based hair removalfield for women. In addition, Palomar has an exclusive development and licenseagreement with Johnson & Johnson Consumer Companies to develop and potentiallycommercialize home-use, light-based devices for reducing or reshaping body fatincluding cellulite, reducing the appearance of skin aging, and reducing orpreventing acne.
About Reliant Technologies: Reliant Technologies develops clinicalsolutions to rejuvenate aging and environmentally damaged skin. Reliant isdedicated to providing the most ergonomic and effective products to the globalaesthetic marketplace. The company pioneered the development of fractionallaser resurfacing that relies on novel high-speed scanning systems and theIntelligent Optical Tracking(R) system to produce safe and effective resultswith minimal recovery time. Reliant is based in Mountain View, Calif. TheFraxel(R) family of products, which includes the Fraxel re:pair(TM), Fraxelre:store(TM) and Fraxel re:fine(TM) laser systems, has quickly become theindustry standard for fractional aesthetic skin treatment. Unlike laserdevices of the past, Fraxel brand laser systems treat microscopic volumes ofskin with each unique pulse, leaving the surrounding area intact for fasthealing. Fraxel lasers have received multiple FDA clearances and have beenfound safe and effective in treating many areas of the face and body. Theversatility of the product line ensures that patients can choose the besttreatment for various stages of their lives as their skin care needs evolve.Contacts: Kayla Castle Investor Relations Manager Palomar Medical Technologies, Inc. 781-993-2411 [email protected]
SOURCE Palomar Medical Technologies, Inc.