Biotech Values

[DewDiligence]

ELOS Invests in Biopolymer Filler from Israel’s Juvenis

[The equity investment includes a call option to buy the whole company at an undisclosed price.]

http://finance.yahoo.com/news/syneron-invests-unique-dermal-filler-130500055.html

›20-Mar-2012 8:45 am ET

YOKNEAM, ISRAEL--(Marketwire -03/20/12)- Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today that it made an equity investment in Juvenis, an Israel-based company focused on commercializing advanced biopolymer compounds for use in aesthetic tissue augmentation. Juvenis' first product under development is Tenergel™, a unique dermal filler initially intended for use in high-volume aesthetic applications and body contouring procedures.

Under terms of the agreement, Syneron made an initial equity investment in Juvenis of $1.0 million in cash, with potential additional development milestone payments totaling $3.0 million. The agreement also includes a call option for Syneron to acquire all of the shares of Juvenis.

Tenergel is an injectable, biodegradable dermal filler with a natural tissue-like feel that is expected to provide safe and long lasting (more than 12 months) results and a low cost of manufacturing. A 12-month animal study with Tenergel demonstrated it to have similar long lasting integrity in vivo with minimal degradation when compared to the existing approved dermal filler for body contouring. The study also found Tenergel to be safe and well tolerated. Syneron's equity investment and development milestone payments are to be used by Juvenis to advance the development of Tenergel towards commercialization.

Louis P. Scafuri, Chief Executive Officer of Syneron Medical, said, "Juvenis has developed a very unique dermal filler technology that provides advantages over the currently approved products and represents an attractive, multi-billion-dollar new commercial opportunity for Syneron. We expect that Tenergel will be ideal for high-volume aesthetic applications and body contouring procedures given its tissue-like feel and its slow and natural degradation in the body. In addition, Tenergel is expected to have significant cost advantages over currently approved products and has strong intellectual property protection. We also believe that it can be an excellent product for wrinkles and lip augmentation procedures, further expanding its market opportunity."

About Syneron Medical Ltd.

Syneron Medical Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company with a comprehensive product portfolio and a global distribution footprint. The Company's technology enables physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, rejuvenation of the skin's appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite. The Company sells its products under two distinct brands, Syneron and Candela. Founded in 2000, the corporate, R&D, and manufacturing headquarters for Syneron Medical Ltd. are located in Israel. Syneron also has R&D and manufacturing operations in the US. The Company markets, services and supports its products in 90 countries. It has offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and distributors worldwide.‹