BURLINGTON, Mass., Nov. 11 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies, Inc. (Nasdaq: PMTI) and Reliant Technologies, Inc., today
announced the formation of a Fractional Technology Open Patent Program
("FTOPP") to offer licenses in the professional field to key intellectual
property in the fractional space. The FTOPP contains six fundamental
fractional patent families including issued patents and pending patent
applications owned or controlled by Palomar, Reliant and Massachusetts General
Hospital ("MGH"). In addition to this program Palomar and Reliant have
entered into certain cross-licenses between the two companies.
Fractional light-based treatments deliver laser or high-powered light
energy in a pattern that leaves untreated areas of skin between the treated
areas of skin. The healthy, untreated areas promote faster healing of the
treated areas and stimulate increased clinical response as compared to
standard full surface treatments. Clinical studies show fractional treatments
can increase both efficacy and safety.
Fractional treatments have quickly become one of the most widely accepted
and sought after new dermatology treatments. In response, many companies have
launched new fractional products to meet the large market demand.
As pioneers of fractional technology, Palomar, Reliant and MGH are the
owners of the fundamental intellectual property in this area. In order to
encourage further development of fractional products while also seeking
compensation for their early, ground breaking work, Palomar, Reliant and MGH
have created the FTOPP to provide others in the industry the opportunity to
license 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 General
Hospital. "Fractional treatment is a broad technology that enhances safety
and efficacy over that of traditional light-based aesthetic treatments. Our
work has already helped many people around the world. This program enables
participants to benefit from years of research and continue development of an
important new approach."
"Palomar is recognized as a technology leader with one of the strongest
intellectual property portfolios and patent enforcement strategies in the
industry," said Joe Caruso, President and CEO of Palomar Medical Technologies.
"The FTOPP presents a compelling collection of intellectual property assets
that are necessary to operate in the fractional space. We believe companies
exploiting fractional technology will find it in their interest to take an
FTOPP license and not risk the consequences of infringing such a large number
of patents."
"Investing in innovation is key to the success of Reliant Technologies and
it is imperative that Reliant protect the value of its inventions," said Eric
Stang, President and CEO of Reliant Technologies. "By forming this FTOPP in
conjunction with Palomar and MGH, we are making it possible for companies to
access and take advantage of fundamental intellectual property in the
fractional space."
The FTOPP comprises six patent families, including eleven issued and
pending U.S. patents and applications, along with foreign counterparts.
Included in the FTOPP from Palomar Medical Technologies are: U.S. patent
number 6,997,923 and patent application number 11/235,697 (the "923" patent
family -- 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 "Fiber
Laser" patent family). Included in the FTOPP from Reliant are: U.S. patent
numbers 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 fractional
space Dr. Nikolai Tankovich and Dr. Eugene Baranov) ; U.S. patent application
number 10/542,390 (the "1678" patent family licensed by Reliant from MGH); and
U.S. patent application number 10/367,582 (the "582" patent family). Also
included in the FTOPP from MGH is U.S. patent number 7,331,953 and patent
application number 11/931,232 (the"953" patent family).
Recently, it was announced that Reliant has agreed to join forces with
Thermage, Inc. (Nasdaq: THRM) in a merger expected to close in the Fourth
quarter 2008. For more information, visit www.fraxel.com.
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 hair removal 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. 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. Palomar has granted The
Procter & Gamble Company a non-exclusive License Agreement to certain patents,
technology and FDA documents related to the home-use, light-based hair removal
field for women. In addition, Palomar has an exclusive development and license
agreement with Johnson & Johnson Consumer Companies to develop and potentially
commercialize home-use, light-based devices for reducing or reshaping body fat
including cellulite, reducing the appearance of skin aging, and reducing or
preventing acne.
About Reliant Technologies: Reliant Technologies develops clinical
solutions to rejuvenate aging and environmentally damaged skin. Reliant is
dedicated to providing the most ergonomic and effective products to the global
aesthetic marketplace. The company pioneered the development of fractional
laser resurfacing that relies on novel high-speed scanning systems and the
Intelligent Optical Tracking(R) system to produce safe and effective results
with minimal recovery time. Reliant is based in Mountain View, Calif. The
Fraxel(R) family of products, which includes the Fraxel re:pair(TM), Fraxel
re:store(TM) and Fraxel re:fine(TM) laser systems, has quickly become the
industry standard for fractional aesthetic skin treatment. Unlike laser
devices of the past, Fraxel brand laser systems treat microscopic volumes of
skin with each unique pulse, leaving the surrounding area intact for fast
healing. Fraxel lasers have received multiple FDA clearances and have been
found safe and effective in treating many areas of the face and body. The
versatility of the product line ensures that patients can choose the best
treatment 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
kcastle@palomarmedical.com
