Syneron Invests in Unique Dermal Filler Technology
20 Marzo 2012 - 7:05AM
Marketwired
Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic
device company, announced today that it made an equity investment
in Juvenis, an Israel-based company focused on commercializing
advanced biopolymer compounds for use in aesthetic tissue
augmentation. Juvenis' first product under development is
Tenergel™, a unique dermal filler initially intended for use in
high-volume aesthetic applications and body contouring procedures.
Under terms of the agreement, Syneron made an initial equity
investment in Juvenis of $1.0 million in cash, with potential
additional development milestone payments totaling $3.0 million.
The agreement also includes a call option for Syneron to acquire
all of the shares of Juvenis.
Tenergel is an injectable, biodegradable dermal filler with a
natural tissue-like feel that is expected to provide safe and long
lasting (more than 12 months) results and a low cost of
manufacturing. A 12-month animal study with Tenergel demonstrated
it to have similar long lasting integrity in vivo with minimal
degradation when compared to the existing approved dermal filler
for body contouring. The study also found Tenergel to be safe and
well tolerated. Syneron's equity investment and development
milestone payments are to be used by Juvenis to advance the
development of Tenergel towards commercialization.
Louis P. Scafuri, Chief Executive Officer of Syneron Medical,
said, "Juvenis has developed a very unique dermal filler technology
that provides advantages over the currently approved products and
represents an attractive, multi-billion-dollar new commercial
opportunity for Syneron. We expect that Tenergel will be ideal for
high-volume aesthetic applications and body contouring procedures
given its tissue-like feel and its slow and natural degradation in
the body. In addition, Tenergel is expected to have significant
cost advantages over currently approved products and has strong
intellectual property protection. We also believe that it can be an
excellent product for wrinkles and lip augmentation procedures,
further expanding its market opportunity."
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 Tenergel is
defectively designed or manufactured or contains defective
components, the risk that the cost of manufacturing Tenergel is
more expensive than anticipated, the risk that the intellectual
property rights of Tenergel 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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