BURLINGTON, Mass., March 6 /PRNewswire-FirstCall/ -- Palomar Medical Technologies, Inc. (Nasdaq: PMTI), a leading researcher and developer of light-based systems for cosmetic treatments, announced today that it will unveil four new devices -- the XD Optic(TM), the GROOVE Optic(TM), LuxPowR(TM) pulsed-light handpiece and a more powerful Aspire SlimLipo(TM) Body Sculpting Laser at the 67th Annual Meeting of the American Academy of Dermatology (AAD) in San Francisco, California from March 7th to 9th.
For use with the StarLux(R) 500 laser and pulsed-light system, the new XD Optic attaches to the Lux1440(TM) and Lux1540(TM) fractional non-ablative laser handpieces, providing deeper skin resurfacing treatments. While the Lux1440 and Lux1540 are known for fractional skin resurfacing treatments, the easy-to-attach XD Optic provides deeper columns of micro-damage. Palomar intends to seek FDA clearance for this device in the near future and begin shipments upon clearance.
In addition, the GROOVE Optic, for use with the Lux2940(TM) fractional ablative laser, provides lines of fractional ablation. The Groove Optic offers results approaching the gold standard full-surface ablation treatment but with the minimal downtime of a fractional treatment. By changing the shape of the micro areas of ablative damage from "dot" to "line", the pattern of treatment can now be correlated with that of wrinkles. With multiple passes, a faster, more uniform coverage can also be realized. The Lux2940 is FDA cleared for skin resurfacing and treatment of wrinkles, rhytides, furrows, fine lines, textural irregularities, pigmented lesions, and vascular dyschromia. Palomar plans to begin shipments of the GROOVE Optic this Spring.
The LuxPowR intense pulsed-light handpiece brings permanent hair reduction to a new level, without sacrificing comfort. Capitalizing on the StarLux 500's increased power and cooling, the LuxPowR's optical train generates fluence up to a 100 J/cm2. An efficient cooling system and advanced optical filtration are provided for patient comfort and safety. Palomar plans to begin shipments of the powerful LuxPowR handpiece by this Spring.
The 40 Watt Aspire SlimLipo Body Sculpting Laser is the premier member of the SlimLipo body sculpting family. With its high continuous wave power output, optimized dual-wavelengths, and superior treatment tip design, the 40 Watt system enables fast treatment of larger volumes of fat. The SlimLipo laser-assisted lipolysis device offers excellent results with minimal patient downtime for true laser body sculpting. Palomar plans to begin shipments of the more powerful SlimLipo in the coming weeks.
Chief Executive Officer Joseph P. Caruso commented, "Even in this difficult economic environment, we continue to devote a large percentage of our revenue to research and development in comparison to others in our industry. The benefits of this investment are shown in our current and new products, and we have protected this investment through our intellectual property portfolio. We are excited about our new products which represent Palomar's commitment to continued research and improved science."
Mr. Caruso continued, "Several physicians are seeing fantastic results using a combination therapy with the XD Optic on the Lux1440 or Lux1540 followed by the GROOVE Optic on the Lux2940. Some physicians believe this combination therapy best addresses the unique needs of the aging face - deep non-ablative resurfacing with the XD Optic for excellent reduction in dyschromia and ablative resurfacing with the GROOVE Optic for reduction of moderate lines and texture. Our goal is to offer physicians multiple treatment options with the fastest and most effective products. The new 40 Watt SlimLipo Body Sculpting Laser represents that objective and will revolutionize the laser-assisted liposuction industry."
In addition to the introduction of the XD Optic, the GROOVE Optic, LuxPowR pulsed light handpiece and a more powerful Aspire SlimLipo Body Sculpting Laser, the following presentations at AAD will be held in Palomar's trade show booth:
Saturday, March 7
* 12:00pm - Combining Ablative and Non-Ablative Fractional Handpieces for Maximum Results with Minimum Downtime.
* 2:00pm - New Advancements in Fractional Treatment of Scars.
* 3:00pm - True-Laser Lipolysis: The SLIM Procedure(SM) (Selective Laser Induced Melting) Clinical Experience.
* 4:00pm - Combining Ablative and Non-Ablative Fractional Handpieces for Maximum Results with Minimum Downtime.
Sunday, March 8
* 10:00am - Success with Lux2940(TM) Fractional Ablation.
* 11:00am - Cross Selling Aesthetic Treatments with the Beau Visage(TM) System.
* 1:00pm - True-Laser Lipolysis: The SLIM Procedure(SM) (Selective Laser Induced Melting) Clinical Experience.
* 2:00pm -Advanced Treatment Strategies in Hair Reduction.
* 3:00pm - New Advancements in Fractional Treatment of Scars.
Monday, March 9
* 10:00am - Cross Selling Aesthetic Treatments with the Beau Visage(TM) System.
* 12:00pm - New Advancements in Fractional Treatment of Scars.
* 2:00pm - True-Laser Lipolysis: The SLIM Procedure(SM) (Selective Laser Induced Melting) Clinical Experience.
* 3:00pm - Success with Lux2940(TM) Fractional Ablation.
Management will be available at the AAD for investor demonstrations and to discuss Palomar's full line of products in Booth # 2228 at the Moscone Center. To reserve a time to meet with Palomar management and/or receive product demonstrations, please contact Palomar's Investor Relations' department at 781-993-2411 or email@example.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.
For more information on Palomar and its products, visit Palomar's website at www.palomarmedical.com. To continue receiving the most up-to-date information and latest news on Palomar as it happens, sign up to receive automatic e-mail alerts by going to the Investor Relations section of the website.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current expectations, plans, intentions, beliefs or predictions. 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, including patent infringement lawsuits, 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.