Syneron to Acquire Assets of TransPharma Medical Ltd.
12 Marzo 2012 - 7:00AM
Marketwired
Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic
device company, announced today that is has signed a definitive
agreement to acquire substantially all the assets of TransPharma
Medical Ltd. ("TransPharma"), a specialty pharmaceutical company
focused on the development and commercialization of drug-products
utilizing an innovative active transdermal drug delivery
technology.
Under terms of the agreement, Syneron will acquire substantially
all the assets of TransPharma, including its patent portfolio, for
approximately $3.6 million in cash. The acquisition is subject to
customary closing conditions.
TransPharma has developed an innovative transdermal drug
delivery technology based on RF-MicroChannels™ that create
microscopic channels across the skin. Its first product, the Viador
system, is a handheld device with an RF-needle array. It is CE Mark
approved for use in transdermal delivery of biologic drug-products
via a system-specific skin patch. In the area of aesthetics, the
Viador system has been clinically proven to stimulate skin
rejuvenation and increase penetration of cosmetic compounds and
other pharmaceutical active ingredients to targeted layers of skin.
The Viador system is expected to provide a commercial opportunity
within the professional and home-use aesthetic device markets.
Dr. Shimon Eckhouse, Co-founder and Chairman of the Board of
Directors of Syneron Medical, said, "TransPharma has made
significant investments in developing a leading transdermal drug
delivery technology. We are excited to have the opportunity to
incorporate this enabling platform and intellectual property into
Syneron's broad aesthetic product technology patent portfolio."
Louis P. Scafuri, Chief Executive Officer of Syneron Medical,
added, "The acquisition provides Syneron tremendous opportunities
to leverage TransPharma's significant patent estate and transdermal
drug delivery know how with our expertise in aesthetic technologies
to bring innovative new treatments to the market. We believe our
technologies are highly complementary and will integrate the
TransPharma research and development efforts with our internal team
in order to further enhance its potential. The acquisition will
also contribute to our current product offering with their approved
Viador system in Europe and enable Syneron to expand its already
dominant intellectual property position in the aesthetic device
market."
About Syneron Medical Ltd. Syneron Medical
Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company
with a comprehensive product portfolio and a global distribution
footprint. The Company's technology enables physicians to provide
advanced solutions for a broad range of medical-aesthetic
applications including body contouring, hair removal, wrinkle
reduction, rejuvenation of the skin's appearance through the
treatment of superficial benign vascular and pigmented lesions, and
the treatment of acne, leg veins and cellulite. The Company sells
its products under two distinct brands, Syneron and Candela.
Founded in 2000, the corporate, R&D, and manufacturing
headquarters for Syneron Medical Ltd. are located in Israel.
Syneron also has R&D and manufacturing operations in the US.
The Company markets, services and supports its products in 90
countries. It has offices in North America, France, Germany, Italy,
Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and
distributors worldwide.
Safe Harbor For Forward-Looking
Statements
Any statements contained in this document regarding future
expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Further, any statements
that are not statements of historical fact (including statements
containing "believes," "anticipates," "plans," "expects," "may,"
"will," "would," "intends," "estimates" and similar expressions)
should also be considered to be forward-looking statements. There
are a number of important factors that could cause actual results
or events to differ materially from those indicated by such
forward-looking statements, including the risk that we will face
difficulties integrating the TransPharma technology into our
products and the risk that the intellectual property rights of
TransPharma are not protected adequately; as well as the risks set
forth in Syneron Medical Ltd.'s most recent Annual Report on Form
20-F, and the other factors described in the filings that Syneron
Medical Ltd. makes with the SEC from time to time. If one or more
of these factors materialize, or if any underlying assumptions
prove incorrect, Syneron Medical Ltd.'s actual results, performance
or achievements may vary materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements.
In addition, the statements in this document reflect the
expectations and beliefs of Syneron Medical Ltd. as of the date of
this document. Syneron Medical Ltd. anticipates that subsequent
events and developments will cause its expectations and beliefs to
change. However, while Syneron Medical Ltd. may elect to update
these forward-looking statements publicly in the future, it
specifically disclaims any obligation to do so. The forward-looking
statements of Syneron Medical Ltd. do not reflect the potential
impact of any future dispositions or strategic transactions that
may be undertaken. These forward-looking statements should not be
relied upon as representing Syneron Medical Ltd.'s views as of any
date after the date of this document.
Investor Contacts: Asaf Alperovitz Chief Financial
Officer + 972 73 244 2283 Email: Email Contact Zack Kubow The Ruth
Group 646-536-7020 Email: Email Contact
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