Palomar Receives FDA Clearance For Laser-Based Hair Removal System
EpiLaser is targeted at multi-billion dollar global market;
Palomar now only company with FDA-cleared lasers for 2 biggest
cosmetic treatments
BEVERLY, Mass., March 10 /PRNewswire/ -- Palomar Medical Technologies,
Inc. (Nasdaq: PMTI) today announced that it received clearance from
the U.S. Food and Drug Administration (FDA) to sell and market its
EpiLaser(TM) system for laser-based hair removal. Palomar is one of
only two U.S. companies to receive this clearance for laser-based hair
removal, and EpiLaser is the first system cleared in the U.S. that
does not require application of any process enhancers or topical
lotions to be effective.
"We are very pleased to announce the FDA clearance of EpiLaser for
hair removal, which is one of the most significant
milestones in the history of Palomar," said Steven Georgiev,
chairman and chief executive officer of Palomar. "This clearance,
combined with the recent additional FDA clearance of our Tru-Pulse(TM)
laser for the treatment of wrinkles, makes Palomar the only company
in the world with FDA-cleared, state-of-the-art systems in the two
biggest segments of the cosmetic laser market -- hair removal and
wrinkle treatment - both multi-billion dollar markets."
Michael Smotrich, Ph.D., president and chief technical officer of
Palomar, said, "The EpiLaser system developed in close cooperation
with Massachusetts General Hospital's Wellman Laboratories is based
on several years of research and has undergone extensive clinical
investigations in the U.S. and Canada that have clearly demonstrated
that the system is safe and effective for hair removal. The EpiLaser
performance has generated great interest in the professional community
and we have increased our production of the systems to meet the
expected heavy demand. The systems are produced and marketed by our
Spectrum Medical Technologies, Inc. subsidiary based in Lexington,
Massachusetts."
Georgiev added, "Palomar now has the most complete line of cosmetic
lasers available today. In addition to hair removal and wrinkle
treatment, our lasers also treat spider veins, tattoos, pigmented
lesions, warts, scars, and burns."
Note from RAM - GO PMTI!!! |
