Blog Tag: Press Release
(Dec. 20, 2013) Cynosure, Inc., which according to its website develops and markets laser- and light-based aesthetic treatment systems for high-volume applications, announced that it will receive $10 million plus future royalty payments under a settlement agreement with Tria Beauty, Inc. The settlement ends the patent infringement litigation between Tria and Palomar Medical Technologies, which Cynosure acquired in June 2013. According to the press release, the settlement includes two non-exclusive patent license agreements between Cynosure and Tria. The first agreement reportedly grants Tria non-exclusive, worldwide licenses to U.S. Patent Nos. 5,735,844, titled “Hair Removal using Optical Pulses,” and 5,595,568, titled “Permanent Hair Removal using Optical Pulses,” and their foreign counterparts. The second agreement reportedly grants Tria non-exclusive, worldwide licenses to U.S. Patent Nos. 8,182,473, 8,328,794, and 8,328,796, for consumer hair removal products. The press release states:
“This agreement resolves the litigation involving certain Palomar patents, eliminating potential future legal expense to enforce those patents,” said Michael R. Davin, Cynosure’s President and CEO. “Equally important, the settlement fully values our intellectual property rights by fairly compensating Cynosure and its shareholders for sales of products based on our proprietary hair-removal technology.”
According to its website, Cynosure is based in Westford, Massachusetts.