The First FDA-Cleared, At-Home Laser Clinically Proven to Reduce Fine Lines and Wrinkles Around the Eyes
Palomar to Host Analyst and Investor Meeting in NYC
BURLINGTON, Mass., Dec. 15, 2010 (GLOBE NEWSWIRE) -- Palomar Medical Technologies, Inc. (Nasdaq:PMTI), a leading researcher and developer of light-based systems for cosmetic treatments, today announced the launch of the first FDA-cleared, at-home laser clinically proven to reduce fine lines and wrinkles around the eyes – the PaloVia Skin Renewing Laser. Palomar will host an analyst and investor meeting to discuss its launch plans in New York City on January 6, 2011 from 10AM to 12PM at the Nasdaq MarketSite, 4 Times Square, second floor Press Conference Room. Attendees from Palomar will be Joseph Caruso, Chief Executive Officer; Paul Weiner, Chief Financial Officer; Nancy Teumer, Global Marketing Director Consumer Products; David Montgomery, Consumer Products Sales Director; and Richard Bankowski, Field Clinical Director and QVC Spokesperson. Also in attendance will be one of Palomar's PaloVia Expert Panel Members Dr. Robert Weiss, Director, Maryland Laser, Skin & Vein Institute. For analysts and investors that are not able to attend the PaloVia launch meeting in New York City, the meeting will also be accessible via webcast in the About Palomar/Investors section of Palomar's website at palomarmedical.com.
As an industry leader and pioneer in the science of using lasers and light to improve personal appearance, Palomar's patented fractional technology has been proven by dermatologists worldwide for more than a decade. Now, for the first time ever, this same technology has been adapted and perfected for use at home, delivering a visible improvement in fine lines and wrinkles. In a clinical study, a panel of doctors specializing in dermatology and plastic surgery saw a noticeable reduction in wrinkles in 92% of participants after one month of daily treatments.
"The PaloVia Skin Renewing Laser is the result of years of comprehensive research and development and the beginning of what we expect will be a new era in delivering convenient light-based technology treatments for people to use in the privacy and comfort of their own homes," said Joseph P. Caruso, Chief Executive Officer, Palomar Medical Technologies, Inc. "We are thrilled to offer our first-to-market, FDA-cleared laser to consumers who can now experience the clinically proven benefits of laser skin treatments, on their own terms at home."
Unlike lotions and creams, which are most effective on the skin's outer layer, the PaloVia laser also works below the surface where wrinkles form. It generates pulses of micro-fine laser light that reach deeply into the skin's sub-layers, treating the skin's aging support structure. Then the body's natural healing process sweeps away the older, damaged tissue and rebuilds it with fresh, new collagen and elastin – the crucial building blocks of smooth, youthful skin.
"The PaloVia Skin Renewing Laser uses a technology that works from a company I've trusted for years to help me deliver the best results for my patients," said Dr. Robert Weiss, Director, Maryland Laser, Skin & Vein Institute. "For consumers who want to treat fine lines and wrinkles around their eyes, I strongly recommend the PaloVia laser as a worthwhile addition to a proactive skincare regimen."
The PaloVia laser is available now for advanced sale though QVC online and will debut on the QVC television program PM Style with Lisa Robertson on December 27 at 7:00PM. The palovia.com website will also go live on December 27 and the PaloVia laser will start shipping to consumers in the middle of January. Distribution will be expanded in January to include Nordstrom, with physicians' offices and additional retailers coming on board throughout the first few months of 2011. The product has a suggested retail price of $499 and comes with a 60-day money back guarantee.
About Palomar Medical Technologies, Inc.: Palomar Medical Technologies (Nasdaq:PMTI) designs, produces and sells the most advanced cosmetic lasers and intense pulsed light (IPL) systems to dramatically improve the appearance of women's and men's skin. For over 15 years, Palomar has pioneered the science of using lasers and light to improve appearances. As the industry's technology leader, Palomar has invested in creating cosmetic laser and IPL systems that put real value in the hands of physicians and other professionals to benefit consumers. Thousands of physicians worldwide trust and depend on Palomar technology to not only introduce new aesthetic treatments such as advanced laser hair removal, laser liposuction, skin resurfacing, acne, laser treatments for scars, wrinkle treatment, stretch marks (striae), and photofacials for pigmented and vascular lesions, but to also make them robust, faster, more powerful, and more comfortable for those being treated. 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 fine lines and wrinkles around the eyes (periorbital wrinkles). OTC clearance allows these products to be marketed and sold directly to consumers without a prescription.
For more information on Palomar and its professional products, visit the company's website at 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 About Palomar/Investors section of the website.
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 and the 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, 2009 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.
CONTACT: Palomar Medical Technologies, Inc. Investor/Financial Contact: Kerry McAnistan, Investor Relations Assistant 781-993-2411 email@example.com Bratskeir & Company Consumer Media Contact: Lauren Glicken O'Leary firstname.lastname@example.org Rebecca Levitt email@example.com 212-679-2233