Palomar Medical Technologies Inc.
Cosmetic laser maker Palomar Medical Technologies Inc. of Burlington, Mass., has announced the receipt of $31 million plus royalties from aesthetic device company Syneron Medical Ltd. of Yokneam, Israel, in a settlement of their patent infringement dispute over hair removal systems. The agreement includes two nonexclusive patent license deals. Under the first, 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, 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.