Laser Industries Receives FDA Clearance and Patent Allowance For Hair Transplantation.TEL AVIV, Israel--(BUSINESS WIRE)--Nov. 5, 1996--Laser Industries Ltd. (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 : LASRF), a leader in surgical laser applications, today announced it has received marketing clearance from the US Food and Drug Administration specifically for laser hair transplantation laser hair transplantation Laser-assisted hair transplantation Cosmetic surgery A format for hair replacement which combines pulsed CO2 laser and slit grafting, micrografting and minigrafting. See Selective photothermolysis. . The company believes its patented Sharplan SilkTouch flashscan technology is the first and only laser system to be granted FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. marketing clearance for hair transplantation Hair Transplantation Definition Hair transplantation is a surgical procedure used to treat baldness or hair loss. Typically, tiny patches of scalp are removed from the back and sides of the head and implanted in the bald spots in the front and top of . Laser Industries also announced it has received notice of allowance from the US Patent and Trademark Office for its patent application covering the use of a scanner such as SilkTouch for hair transplantation. "Being the first company to receive FDA clearance for laser hair transplantation proves once again that Laser Industries continues to maintain its leadership position in the industry," said Mr. Benjamin Givli, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We anticipate a significant worldwide increase in our laser sales for hair transplantation." Hair transplantation is primarily performed on men. According to the American Academy of Cosmetic Surgery cosmetic surgery, plastic surgery for cosmetic purposes, such as the improvement of the appearance of the face by removing wrinkles or reshaping the nose. , 197,276 individuals underwent the procedure during 1994 spending $789 million. Significant male pattern baldness male pattern baldness n. A progressive, diffuse loss of scalp hair in men that begins in the twenties or early thirties, depends on the presence of the androgenic hormone testosterone, and is caused by a combination of genetic and hormonal factors. is found in 40 percent of all men by the age of 35. By the age of 75 over 65 percent of men are affected. It is estimated that 40 million men in the United States alone are currently bald. About one- quarter of the total spends roughly $550 million a year on drugs to grow hair or on the purchase of wigs or toupees. Expenditures are expected to continue rising. Laser Industries submitted data to the FDA on 69 patients on whom hair transplantation procedures were performed using the Sharplan SilkLaser CO2 laser system, along with six month follow- up results. The laser was used to create recipient holes in the patients' scalp so that hair grafts could be transplanted. Transplanted hair growth began on average at around nine weeks. Physicians find the SilkLaser superior to traditional hair transplantation methods. Bleeding during the procedure is minimal, and appearance is more natural. In addition, the laser is easier to use, more accurate and speeds up what is usually a long procedure. -0- Laser Industries Ltd. is a worldwide applications driven leader in the design, development, manufacture and marketing of medical laser systems and accessories sold under the trade name "SHARPLAN." CONTACT: Laser Industries Ltd., Tel Aviv Yacha Sutton, +972-3-645-4545 President & COO or Sharplan Lasers Inc. Yigal Baruch, 201/327-1666 VP Finance or The Anne McBride Co., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Katerina Charalambous, 212/752-0504 |
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