Palomar, Asclepion-Meditec Ink Licensing Pact

BURLINGTON, Mass., Dec. 5 -- Palomar Medical Technologies has reached an agreement with Asclepion-Meditec granting them a nonexclusive 7.5% royalty-bearing sublicense to key patents in the field of laser/light-based hair removal. Palomar has previously granted similar sublicenses to Coherent Medical (acquired by ESC, now Lumenis), Laserscope and Iridex.

Louis P. Valente, Palomar chairman and CEO, said, "We are extremely pleased to work with Asclepion-Meditec. This agreement once again confirms the interest in our technology. Our license program has given us the opportunity to work with many companies in our field and offer the latest breakthrough in technology to consumers worldwide."