Cynosure Files Patent Infringement Lawsuit Against CoolTouch Inc.
January 09 2008 - 4:05PM
PR Newswire (US)
Company and Largest Shareholder El.En. S.p.A. Seek Injunction and
Monetary Damages WESTFORD, Mass., Jan. 9 /PRNewswire-FirstCall/ --
Cynosure, Inc. (NASDAQ:CYNO), a leading developer and manufacturer
of a broad array of light-based aesthetic treatment systems, and
its largest shareholder, El.En. S.p.A., today filed a patent
infringement lawsuit against CoolTouch Inc. in U.S. District Court
for the District of Massachusetts. The lawsuit alleges that
CoolTouch's 1320 nm CoolLipo(TM) laser system infringes on U.S.
Patent No. 6,206,873 (the 873 patent), which covers technology
using laser energy to remove subcutaneous fat. Cynosure is the
exclusive licensee of the 873 patent, which is owned by El.En. The
873 patent is a fundamental component of the Smartlipo(TM)
LaserBodyScuplting(SM) Workstation, a groundbreaking system
designed as an alternative to traditional liposuction in patients
with small areas of localized fat. Cynosure received U.S. Food and
Drug Administration clearance to market the Smartlipo workstation
in the fourth quarter of 2006. The product, which was launched in
early 2007, uses a 1064 nm Nd:YAG laser to deliver energy directly
to subcutaneous fat cells, causing them to rupture. The emitted
fat-melting energy also coagulates tissue, thus inducing collagen
retraction and tissue tightening. The lawsuit filed by Cynosure and
El.En. seeks monetary damages and an injunction against CoolTouch
to prohibit further infringement. "Smartlipo has become the gold
standard for the minimally invasive removal of localized fat, and
we will vigorously defend our intellectual property position," said
Cynosure President and Chief Executive Officer Michael Davin. "As
evidenced by the new higher-powered 10- and 18-watt workstations we
introduced in 2007, we continue to make significant investments in
the future of the Smartlipo workstation. We believe that
CoolTouch's device infringes on the 873 patent, and we initiated
this litigation to protect our rights and represent the best
interest of our shareholders." About Cynosure, Inc. Cynosure, Inc.
develops and markets aesthetic treatment systems that are used by
physicians and other practitioners to perform non-invasive and
minimally invasive procedures to remove hair, treat vascular
lesions, rejuvenate skin through the treatment of shallow vascular
and pigmented lesions, laser lipolysis and temporarily reduce the
appearance of cellulite. Cynosure's products include a broad range
of laser and other light-based energy sources, including
Alexandrite, pulsed dye, Nd:YAG and diode lasers, as well as
intense pulsed light. Cynosure was founded in 1991. For corporate
or product information, contact Cynosure at 800-886-2966, or visit
http://www.cynosure.com/. Safe Harbor Any statements in this press
release about future expectations, plans and prospects for
Cynosure, Inc., including statements about the company's
expectations and future financial performance, as well as other
statements containing the words "believes," "anticipates," "plans,"
"expects," "will" and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including Cynosure's
history of operating losses, its reliance on sole source suppliers,
the inability to accurately predict the timing or outcome of
regulatory decisions, changes in consumer preferences, competition
in the aesthetic laser industry, economic, market, technological
and other factors discussed in Cynosure's most recent Annual Report
on Form 10-K, which is filed with the Securities and Exchange
Commission. In addition, the forward-looking statements included in
this press release represent Cynosure's views as of the date of
this press release. Cynosure anticipates that subsequent events and
developments will cause its views to change. However, while
Cynosure may elect to update these forward-looking statements at
some point in the future, it specifically disclaims any obligation
to do so. These forward-looking statements should not be relied
upon as representing Cynosure's views as of any date subsequent to
the date of this press release. DATASOURCE: Cynosure, Inc. CONTACT:
Scott Solomon, Vice President of Sharon Merrill Associates, Inc.,
+1-617-542-5300, , for Cynosure, Inc. Web site:
http://www.cynosure.com/
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