NEWS Cynosure Signs Agreement with Unilever to Develop Light-Based Devices for Home Use
- Press
Release
- Source: Cynosure, Inc.
- On Wednesday July 1, 2009, 8:30 am EDT
WESTFORD, Mass., July 1 /PRNewswire-FirstCall/ -- Cynosure,
Inc. (Nasdaq: CYNO
- News),
a leading developer and manufacturer of a broad array of light-based aesthetic
treatment systems, today announced that it has signed a multi-year, funded
cooperative agreement with Unilever Ltd. to develop and commercialize
light-based devices targeting the home use personal care market. Financial
terms of the agreement were not disclosed.
"One of our long-term corporate objectives has been to enter the emerging
home use market, and Unilever represents an ideal partner for us," said
President and Chief Executive Officer Michael Davin. "We view this
agreement as a first step in forming a meaningful long-term strategic
relationship with Unilever and an attractive business opportunity for Cynosure.
Unilever is a recognized leader in skin care products, including a broad array
of established consumer brands such as Dove, Pond's and Vaseline. Its
world-class distribution, marketing and branding capabilities for home skin
care products are second to none. With its global footprint, Unilever has the
scale to successfully launch and distribute light-based products into the
consumer market."
"Together with Unilever, we intend to target multiple benefit areas
within the home use segment," Davin said. "The initial focus of this
funded development agreement will be on the skin rejuvenation component of the
marketplace, which includes wrinkles, lines and texture. We hope our current
light-based technology for skin rejuvenation will translate well into the
over-the-counter device market."
Genevieve Berger, Unilever's Chief Research and Development Officer,
commented, "We believe the emerging consumer market for light-based
devices is a promising long-term opportunity for Unilever. We selected Cynosure
as our development partner because of the company's ability to develop and
bring leading-edge technology into the marketplace and its demonstrated success
as an innovator in the physician based aesthetic market. Cynosure has proven
that it can develop products that not only deliver outstanding clinical results
but also emphasize safety, which is a critical element for the consumer
marketplace. We look forward to working with the Cynosure team in the years
ahead."
About Unilever
Unilever's mission is to add vitality to life. They meet everyday needs for
nutrition, hygiene and personal care with brands that help people feel good,
look good and get more out of life. Unilever is one of the world's leading
suppliers of fast moving consumer goods with strong local roots in more than
100 countries across the globe. Its portfolio includes some of the world's best
known and most loved brands including thirteen euro 1 billion brands and global
leadership in many categories in which the company operates. The portfolio
features brand icons such as Knorr, Wall's, Flora, Dove, Lynx, Persil, Marmite
and Pot Noodle. Unilever has around 174,000 employees in approaching 100
countries and generated annual sales of euro 40 billion in 2008. More information
about Unilever and its brands can be found at www.unilever.com.
About Cynosure, Inc.
Cynosure,
Inc. develops and markets aesthetic treatment systems that are used by
physicians and other practitioners to perform non-invasive and minimally
invasive procedures to remove
hair, treat
vascular and pigmented lesions, rejuvenate
the skin, liquefy
and remove unwanted fat through laser lipolysis and temporarily
reduce the appearance of cellulite. Cynosure's
products include a broad range of laser and other light-based energy
sources, including Alexandrite, pulsed dye, Nd:YAG and diode lasers, as well as
intense pulsed light. Cynosure was founded in 1991. For corporate or product
information, contact Cynosure at 800-886-2966, or visit www.cynosure.com.
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