Candela and Laser Aesthetics Agree on Sublicense.Business/Technology Editors &Health/Medical Writers WAYLAND, Mass.--(BW HealthWire)--Feb. 2, 2000 Candela candela (kăndĕ`lə), in weights and measures: see candle. A unit of measurement of the intensity of light. Part of the SI system of measurement, one candela (cd) is the monochromatic radiation of 540THz with a radiant intensity Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CLZR) announced today that it had agreed to grant Laser Aesthetics, Inc., a wholly-owned subsidiary of New Star Lasers, Inc., a sublicense under the Dynamic Cooling patent licensed by Candela for use in conjunction with Laser Aesthetics' CoolTouch NS 130 laser and Laser Aesthetics' Long Pulse YAG laser YAG laser Yttrium-aluminum-garnet laser, Nd:YAG–neodymium:yttrium-aluminum-garnet–laser. See Laser. . In addition to the sublicense agreement, New Star and Laser Aesthetics have agreed to settle the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. they had brought against Candela for alleged contractual interference between New Star and The Regents of the University of California The Regents of the University of California make up the governing board of the University of California. The Board has 26 full (i.e., voting) members:
Both the sublicense agreement and the settlement of the litigation are conditioned on a favorable outcome of the pending arbitration between Candela and The Regents of the University of California concerning the Dynamic Cooling patent. Commenting on the resolution, Gerard E. Puorro, Candela's President and Chief Executive Officer, said: &uot;We are quite obviously delighted with this outcome and now will focus on resolving remaining issues we have concerning Dynamic Cooling with The Regents of the University of California.&uot; About Candela Candela Corporation develops, manufactures, and distributes innovative clinical solutions that enable physicians, surgeons and personal care practitioners to treat selected cosmetic and medical conditions See carpal tunnel syndrome, computer vision syndrome, dry eyes and deep vein thrombosis. using lasers, aesthetic laser systems and other proven technologies. Founded near Boston in 1970, Candela markets and services its products in over 40 countries from offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Asia. Candela established the aesthetic laser market 11 years ago. With an installed base of over 3,000 lasers worldwide, more than 500,000 aesthetic laser procedures are performed annually with Candela laser systems. This press release includes certain forward-looking statements. Any such statements are subject to risks that could cause the actual results to vary materially, including negative developments relating to unforeseen order cancellations or push-outs, Candela's strategic relationships, the impact of intense competition, a favorable outcome of the arbitration proceedings with The Regents of the University of California, and changes in the laser industry. |
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