BURLINGTON, Mass., Jan. 5, 2010 (GLOBE NEWSWIRE) -- Palomar Medical Technologies, Inc. (Nasdaq:PMTI), a leading researcher and developer of light-based systems for cosmetic treatments, announced today that its patent infringement lawsuits against Candela Corporation and Syneron, Inc. have been re-started. Palomar has accused Candela of willful infringement of U.S. Patent No. 5,735,844 ("the '844 patent"), and Palomar has accused Syneron of willful infringement of the '844 patent as well as U.S. Patent No. 5,595,568 ("the '568 patent"). This light-based hair removal patent family has already been licensed to many other companies.
Palomar's lawsuits against Candela and Syneron were stayed by the Court pending the outcome of the reexaminations of the '568 and '844 patents. Following the successful conclusion of both reexaminations, Palomar requested that the Court re-start both lawsuits. The Court has now granted both of those requests.
Chief Executive Officer Joseph P. Caruso commented, "We are looking forward to moving forward on both of these lawsuits. We have confidence in the strength of these patents, and given our recent success in the reexaminations of these patents, we believe we are in an even stronger position now for trial."
Mr. Caruso continued, "As I have said in the past, Palomar exclusively licensed the '844 and '568 patents from Massachusetts General Hospital in 1995. Palomar was the first company to receive FDA clearance and bring a high powered light-based hair removal system to market. Palomar was later the first company to receive FDA clearance for permanent hair reduction and the first company to receive over the counter clearance from the FDA for a hair removal device. After establishing light-based hair removal as a viable treatment option, many competitors began to use our technology. Several properly took licenses while others opted not to at their own risk. Unauthorized taking of technology is what the patent system is designed to prevent. We intend to continue our aggressive patent enforcement strategy both to protect our own investment in research and market development as well as the investment of our licensees."
Patricia Davis, Palomar's General Counsel and a registered patent attorney, commented, "The next step in both cases is to meet with the Court and set a schedule. Our case against Candela is very far along and we will request a trial date as soon as possible. We hope to have a trial in 2010."
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. 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.
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With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements, including, but not limited to, statements relating to new markets, future royalty amounts due from third parties, development and introduction of new products, and financial and operating projections. These forward-looking statements are neither promises nor guarantees, but involve risk and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements. These risk factors include, but are not limited to, results of future operations, technological difficulties in developing or introducing new products, the results of future research, lack of product demand and market acceptance for current and future products, the effect of economic conditions, challenges in managing joint ventures and research with third parties and government contracts, the impact of competitive products and pricing, governmental regulations with respect to medical devices, including whether FDA clearance will be obtained for future products and additional applications, the results of litigation, difficulties in collecting royalties, potential infringement of third-party intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, and/or other factors, which are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2008 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.