WESTFORD, Mass., Oct. 5, 2011 /PRNewswire/ -- Cynosure, Inc.
(NASDAQ: CYNO), a leader in laser- and light-based treatments for
minimally invasive and non-invasive aesthetic applications, today
announced that it has acquired from NuvoLase, Inc. worldwide
exclusive rights to distribute the PinPointe™ FootLaser™. The
PinPointe FootLaser is the world's first FDA cleared light-based
device for the treatment of Onychomycosis (toenail fungus), a
condition that affects approximately 36 million people in
the United States and an estimated
10 percent of the population worldwide.
The PinPointe FootLaser received U.S. Food and Drug
Administration clearance in October
2010 for the treatment of Onychomycosis. The system
also is cleared for marketing in Australia, Canada and the European Union.
"The treatment of Onychomycosis represents an emerging
opportunity for light-based technology," said Cynosure President
and Chief Executive Officer Michael
Davin. "We are acquiring the worldwide exclusive rights to a
system that we believe is considered the leading solution for
treating this indication. With almost 100,000 PinPointe
FootLaser treatments performed worldwide to date, our distribution
agreement with NuvoLase immediately gives us a leadership position
in the market."
The distribution agreement gives Cynosure rights to distribute
both current and future NuvoLase products for the treatment of
Onychomycosis. In North America, Cynosure plans to sell the
PinPointe FootLaser through a new dedicated podiatry direct sales
team supported by the Company's existing direct sales force.
The American Podiatric Medical Association estimates that
there are approximately 15,000 podiatrists currently practicing in
the United States. In
Europe, the system will initially be marketed through Cynosure's
direct subsidiaries. Cynosure expects to launch the product
in additional markets in the Asia
Pacific region and through select international distributors
in the future.
"We believe Cynosure's expansive distribution network will help
drive the adoption of the PinPointe FootLaser system on a global
basis," said NuvoLase President and Chief Executive Officer
Steven P. Duddy. "The
expertise Cynosure has demonstrated in developing and marketing
laser- and light-based treatments for minimally invasive and
non-invasive aesthetic applications will be crucial in gaining
market share for this fast-growing indication."
Onychomycosis is a condition marked by the growth of fungus
under the nail. Fungi feed on keratin, the protein that makes
up the hard surface of the toenails. The infected nail often
turns darker in color, and debris may accumulate under the nail.
As the infection continues, the nail either may crumble
gradually and fall off or thicken.
PinPointe FootLaser uses laser light to kill the fungus that
lives in and under the nail without causing damage to the nail or
the surrounding skin. The treatment typically takes 20
minutes with no downtime. In a 12-Month Multi-Site
Retrospective Study conducted on more than 250 sequential patients,
71.4% of patients experienced continuous improvement in clear nail
area after a single treatment. By contrast, the current
standard of care for Onychomycosis – oral drugs and topical
medications – are estimated to be only between 30-50% effective in
treating the indication and have the potential for significant side
effects.
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 and pigmented lesions, rejuvenate the skin, liquefy
and remove unwanted fat through laser lipolysis and reduce the
appearance of cellulite. Cynosure's products include a broad range
of laser and other light-based energy sources, including
Alexandrite, pulse 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
www.cynosure.com.
About NuvoLase, Inc.
NuvoLase, Inc. develops innovative devices for healthcare
providers worldwide. NuvoLase products provide superior
clinical performance – the result of solid research, sound science,
and extensive clinical experience. The NuvoLase PinPointe
FootLaser is available worldwide.
Forward-looking Statements
Any statements in this press release about future expectations,
plans and prospects for Cynosure, Inc., including those related to
the market potential of the PinPointe FootLaser, 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 the global
economy and lending environment and their effects on the aesthetic
laser industry, Cynosure's ability to successfully market and sell
the PinPointe FootLaser system in current and future markets,
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 and Quarterly
Report on Form 10-Q, which are 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.
Contact:
Scott Solomon
Sharon Merrill Associates, Inc.
617.542.5300
CYNO@InvestorRelations.com
SOURCE Cynosure, Inc.