By Victoria Stilwell
Cynosure Inc. (CYNO) said it received clearance from the U.S. Food and Drug Administration to market its over-the-counter device that treats facial wrinkles.
Cynosure develops and markets aesthetic treatment systems used by physicians and others to perform procedures including hair removal, laser fat removal and reduction in cellulite appearance.
The company's wrinkle-treatment device was being developed with Unilever PLC (UL) and is expected to be commercially launched by the consumer products giant in 2013. The device is indicated for the at-home treatment of wrinkles around the eyes and mouth.
Cynosure signed a multi-year agreement with Unilever in June 2009 to develop and commercialize light-based devices targeting the home-use personal care market.
Cynosure closed Tuesday at $21.13 and was unchanged in recent premarket trade, while Unilever closed Tuesday at $33.69 and was also inactive. Cynosure, which has a market value of $267 million, is up 80% so far this year, while Unilever is up 0.5% in the same time period.
Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com
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