Palomar/Gillette deal enters phase two:
This article was originally published in Clinica
Executive Summary
Palomar Medical Technologies and Gillette have embarked on the second phase of a joint effort to develop and commercialise a patented home-use, light-based hair removal device for women. Palomar, of Burlington, Massachusetts, will disclose further information on proprietary optical hair-removal technology to assist in the research and Boston-based Gillette, following an amendment to the original agreement, will provide an additional $2.1m in development funding. The financing will be spread over a nine-month extension of the development phase, which is expected to be completed by August 31 2006.