Palomar to Launch Home Use Laser by Spring 2011
September 21 2010 - 10:48AM
Palomar Medical Technologies Inc. (Nasdaq:PMTI), a leading
researcher and developer of light-based systems for cosmetic
treatments, today announced that it would move the launch of its
patented, home use laser for the treatment of periorbital wrinkles
by a few months. This is the only laser with over-the-counter (OTC)
clearance from the United States Food and Drug Administration (FDA)
for the treatment of periorbital wrinkles. OTC clearance allows the
laser to be marketed and sold directly to consumers without a
prescription.
Palomar Chief Executive Officer Joseph P. Caruso said, "The
change in the timing of our launch is related to the use of lotion
with the laser. The laser is in production, and we are
building inventory for the launch. The branding and product
positioning are complete and deliver a powerful message. We
have distribution partners in place and we will take advantage of
the additional time to further prepare our marketing, public
relations, and communication plans in support of the spring
launch."
In clinical studies, hundreds of participants used this home-use
laser in thousands of treatments and were very pleased with the
results. A panel of physicians saw a noticeable reduction in
wrinkles in 92% of participants after 4 weeks, and 84% of
participants agreed that it appears to eliminate their fine lines
after 12 weeks.
Mr. Caruso continued, "Entering the consumer market has been one
of Palomar's growth strategies for over a decade. Introducing
a home-use laser will increase awareness among a much broader base
of consumers about the benefits of laser treatment for skin care,
engage more people by making laser cosmetic treatments a part of
their daily routine, and help to establish periodic laser
treatments as an essential element of a new standard of skin
care. In addition to opening up the very large, untapped
consumer market, we believe the increased awareness will lead to
increased interest in professional treatments. This is a
revolutionary product which we believe will have a meaningful
impact on how people treat their aging skin."
About Palomar Medical Technologies Inc: Palomar
is a leading researcher and developer of light-based systems for
cosmetic treatments. Palomar pioneered the optical hair removal
field, when, in 1997, it introduced the first high-powered laser
hair removal system. Since then, many of the major advances in
light-based cosmetic treatments have been based on Palomar
technology. In December 2006, Palomar became the first company to
receive a 510(k) over-the-counter (OTC) clearance from the United
States Food and Drug Administration (FDA) for a new, patented,
home-use, light-based hair removal device. In June 2009, Palomar
became the first company to receive a 510(k) OTC clearance from the
FDA for a new, patented, home-use, laser device for the treatment
of periorbital wrinkles. OTC clearance allows the product to be
marketed and sold directly to consumers without a prescription.
There are now millions of light-based cosmetic procedures performed
around the world every year in physician offices, clinics, spas and
salons. Palomar is testing many new and exciting applications to
further advance the hair removal market and other cosmetic
applications. Palomar is focused on developing proprietary
light-based technology for introduction to the mass markets.
CONTACT: Palomar Medical Technologies, Inc.
Kerry McAnistan, Investor Relations Assistant
781-993-2411
ir@palomarmedical.com
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