12.17.13
Tria Beauty, which develops and markets light-based consumer skincare products, has announced that it has entered into a comprehensive settlement agreement with Cynosure, Inc.
This ends the patent infringement litigation between Tria and Palomar Medical Technologies, which Cynosure acquired in June 2013.
"We are pleased to have executed this settlement agreement with Cynosure so we can continue our focus on delivering breakthrough skincare devices directly to consumers that provide transformative benefits not available outside of a physician's office, without the distraction and expense of litigation," said Tria Beauty's President and CEO, Kevin Appelbaum.
The settlement includes two non-exclusive patent license agreements between Cynosure and Tria.
The first agreement grants Tria a non-exclusive, worldwide license to U.S. Patent Nos. 5,735,844 and 5,595,568 and foreign counterparts for consumer hair removal products.These patents were acquired from Palomar by Cynosure. In addition, Cynosure will receive a non-exclusive royalty-free license to certain Tria patents outside the consumer field.
This ends the patent infringement litigation between Tria and Palomar Medical Technologies, which Cynosure acquired in June 2013.
"We are pleased to have executed this settlement agreement with Cynosure so we can continue our focus on delivering breakthrough skincare devices directly to consumers that provide transformative benefits not available outside of a physician's office, without the distraction and expense of litigation," said Tria Beauty's President and CEO, Kevin Appelbaum.
The settlement includes two non-exclusive patent license agreements between Cynosure and Tria.
The first agreement grants Tria a non-exclusive, worldwide license to U.S. Patent Nos. 5,735,844 and 5,595,568 and foreign counterparts for consumer hair removal products.These patents were acquired from Palomar by Cynosure. In addition, Cynosure will receive a non-exclusive royalty-free license to certain Tria patents outside the consumer field.
The second agreement grants Tria a non-exclusive, royalty bearing, worldwide license to the claims of certain Palomar patents, including but not limited to U.S. Patent Nos. 8,182,473, 8,328,794, and 8,328,796, for consumer hair removal products.These patent claims cover the hair removal products that were the subject of the second lawsuit between Palomar and Tria.
