BURLINGTON, Mass., Jan. 12 /PRNewswire-FirstCall/ -- Palomar Medical Technologies Inc. , a leading researcher and developer of light- based systems for cosmetic treatments, today announced that the U.S. District Court for the District of Massachusetts has set May 30, 2006 as the start of the jury trial in the patent infringement lawsuit filed by Palomar and the Massachusetts General Hospital (“MGH”) against Cutera, Inc. Palomar is pleased that its request for the earliest possible trial date has been met. In this lawsuit, Palomar and MGH accuse Cutera’s CoolGlide family of products of infringing U.S. Patent No. 5,735,844 (the ‘844 patent). The parties estimate a two week trial. If Palomar prevails at trial, Cutera may be ordered to pay millions in damages for past sales and ordered to stop selling infringing products. Palomar does not plan on licensing Cutera going forward. Palomar also alleges that Cutera’s activities constitute willful infringement of the ‘844 patent. If Palomar prevails on such a claim, Cutera could be forced to pay up to triple the amount of the original damages assessment.
Patricia Davis, Palomar’s General Counsel and a registered patent attorney, commented, “It has been almost four years since we filed this lawsuit and we are eager to bring it to completion.”
Chief Executive Officer Joseph P. Caruso commented, “We are pleased to have the trial date set. We continue to believe not only in the strength of our infringement position against Cutera but also in the overall strength of the ‘844 patent and its corresponding family members. We intend to continue our licensing and enforcement efforts with other parties.”
In addition to the lawsuit described above, on April 7, 2005, Palomar and MGH filed a second lawsuit against Cutera in the same Court accusing Cutera’s new pulsed light products for hair removal, including the ProWave 770, of infringing both the ‘844 patent and related U.S. Patent No. 5,595,568 (the ‘568 patent). This lawsuit is in its early stages and is progressing.
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. 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 uniquely focused on developing proprietary light- based technology for introduction to the mass markets. Palomar has an agreement with The Gillette Company to develop and potentially commercialize a patented home-use, light-based hair removal device for women, an 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 and awarded a contract by the Department of the Army to develop a light-based self-treatment device for Pseudofolliculitis Barbae (“PFB”).
For more information on Palomar and its products, visit Palomar’s website at http://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 E-mail Alerts page in the Investor Relations’ 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, development and introduction of new products, and financial projections that 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, the results of litigation, difficulties in collecting royalties, potential infringement of third-party intellectual property rights, 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, 2004 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: Kayla Castle Investor Relations Palomar Medical Technologies Inc. 781-993-2411 kcastle@palomarmedical.com
Palomar Medical Technologies Inc.
CONTACT: Kayla Castle, Investor Relations at Palomar Medical TechnologiesInc., +1-781-993-2411, kcastle@palomarmedical.com
Web site: http://www.palomarmedical.com/
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