Palomar Medical Technologies awarded $4.3 million by the U.S. Government in support of its medical research and development activities.BEVERLY, Mass.--(BUSINESS WIRE)--March 9, 1995--PALOMAR MEDICAL TECHNOLOGIES, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (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 :PMTI PMTI Potomac Massage Training Institute PMTI Project Management Training Institute ) announced today that it has been awarded two contracts valued at $4.3 million in support of its medical research & development (R&D) programs. The U.S. Army Missile Command, Redstone Arsenal, Ala., will provide $3.55 million funding over the next 18 months in support of PALOMAR's medical laser R&D program. This research is directed toward increased performance and lower cost of PALOMAR's Laser Thrombolysis laser thrombolysis Vascular medicine A developing technology in which a fiberoptic catheter with a 570 nm laser is passed through an artery–eg, a coronary artery, and blood clots vaporized using ultrashort bursts of energy System used in the removal of thrombus thrombus /throm·bus/ (throm´bus) pl. throm´bi a stationary blood clot along the wall of a blood vessel, frequently causing vascular obstruction. (blood clots) in the human circulatory system. Star Medical Technologies, Inc., PALOMAR's Pleasanton, Calif., subsidiary, has been a two-year, $742,000 contract by the U.S. Air Force, Phillips Laboratory, Kirkland AFB AFB abbr. acid-fast bacillus AFB Acid-fast bacillus, also 1. Aflatoxin B 2. Aorto-femoral bypass , N.M. for the development of a diode laser based system for diagnosing and determining the proper treatment of severely burned patients. Commenting on this major contract award, Dr. Michael Smotrich, PALOMAR's president and COO said: "Winning these contracts in today's highly competitive government R&D market is a clear indication of PALOMAR's high ranking in laser technology and systems design. These funds which will complement PALOMAR's ongoing investments in R&D will clearly enhance our standing as a government contractor as well as our position as an innovative developer of medical systems." PALOMAR MEDICAL TECHNOLOGIES, INC. is engaged in the development, production, marketing and sales of minimally invasive medical devices for cardiovascular and dermatological applications. CONTACT: Palomar Medical Technologies, Inc. Michael Smotrich Joseph Caruso 508/921-9300 or L.G. Zangani, Inc. Leonardo Zangani 908/788-9660 |
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