Palomar Wins Candela's Texas Lawsuit
08 10월 2008 - 6:45AM
PR Newswire (US)
BURLINGTON, Mass., Oct. 7 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies Inc (NASDAQ:PMTI) today announced that, following
trial, a jury has found that Palomar's products do not infringe a
Candela patent, specifically U.S. Patent No. 5,810,801 (the "'801
Patent"). The trial took place in United States District Court for
the Eastern District of Texas. Palomar's Lux1540, Lux1540z, LuxIR
and LuxDeepIR handpieces when used on the StarLux 500 and 300
Systems were found non-infringing. In addition, the jury found that
all of the claims at issue in '801 Patent were invalid over prior
art. Candela accused eight Palomar handpieces when used with four
different platform systems of infringing all of the claims of three
Candela Patents. Specifically Candela accused Palomar's LuxY,
LuxYs, LuxG, LuxB, Lux1540, Lux1540z, LuxIR and LuxDeepIR
handpieces when used on the StarLux 500, StarLux 300, MediLux or
EsteLux Systems of infringing U.S. Patent Nos. 5,810,801; 6,120,497
and 6,659,999. On June 20, 2008, Candela dropped its accusations
against Palomar's LuxB handpiece. Then on September 22, 2008, just
days before the start of trial, Candela (i) dropped its accusations
against Palomar's LuxY, LuxYs, and LuxG handpieces, (ii) dropped
two of its patents from the lawsuit, specifically 6,120,497 and
6,659,999, and (iii) dropped from the lawsuit all method claims in
5,810,801. Consequently, Candela went to trial on September 29th
accusing only Palomar's Lux1540, Lux1540z, LuxIR and LuxDeepIR when
used with the StarLux 500 or 300 of infringement of only claims
11-14 of 5,810,801. In addition, Candela significantly reduced the
amount of damages it was seeking. Chief Executive Officer Joseph P.
Caruso commented, "We are very pleased with the jury's decision.
The jury's verdict completes our win in this lawsuit by finding our
products to be non-infringing and the patent claims at issue to be
invalid. We are also happy that the costs associated with this
trial are behind us." Mr. Caruso continued, "Importantly, we now
move closer to Palomar's lawsuit against Candela for infringement
of Palomar's hair removal patents: U.S. Patent Nos. 5,595,568 and
5,735,844. Candela has admitted that it brought the lawsuit in
Texas in retaliation for the hair removal lawsuit. In this just
completed Texas trial, Candela's corporate representative testified
under oath that the demand for hair removal was far greater than
the demand for any other laser treatment. We agree. That trial is
not yet scheduled but we expect the trial to take place next year."
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. 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,
2007 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. Contacts: Kayla Castle
Investor Relations Manager Palomar Medical Technologies, Inc.
781-993-2411 DATASOURCE: Palomar Medical Technologies, Inc.
CONTACT: Kayla Castle, Investor Relations Manager of Palomar
Medical Technologies, Inc., +1-781-993-2411, Web site:
http://www.palmed.com/ Company News On-Call:
http://www.prnewswire.com/comp/107555.html
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