Palomar, Syneron Settle Patent Suits
BURLINGTON, Mass., and YOKEAM, Israel, Sept. 23, 2011 — Cosmetic laser maker Palomar Medical Technologies Inc. of Burlington has announced the receipt of $31 million plus royalties from aesthetic device company Syneron Medical Ltd. of Yokeam in a comprehensive settlement agreement of their patent-infringement dispute over hair-removal systems. The settlement includes two nonexclusive patent license agreements.
Under the first agreement, Palomar granted Syneron and its Candela unit a worldwide, irrevocable license to US Patent Nos. 5,735,844 and 5,595,568 for professional laser- and lamp-based hair removal technology.
Under the second agreement, Palomar granted Syneron and affiliates a nonexclusive license in the US to the same two patents for consumer home-use lamp-based hair removal products. Palomar received a license to certain Syneron and Candela patents.
The settlement ends a dispute that started in 2006.
Under Palomar’s license agreement with the General Hospital Corp. in Boston, Palomar will pay 40 percent of the settlement payments from Candela and Syneron, minus its legal costs.
For more information, visit: www.palomarmedical.com or www.syneron.com