BioChemics, Inc. Announces Collaboration Agreement with Leading Light Based Technology Company
DANVERS, MA --September 30, 2008 -- BioChemics, Inc. (BCI), a company “enhancing drug delivery through biophysical modulation,” is pleased to announce the signing of a research collaboration agreement with Cynosure, Inc. (NASDAQ:CYNO), a leading developer and manufacturer of light-based aesthetic treatment systems, to evaluate the use of BCI's VALE® based compositions in conjunction with light based aesthetic treatments. BioChemics is a specialty pharmaceutical company that has developed a novel, transdermal drug delivery system called VALE® (Vaso-active Lipid Encapsulated), that allows a wide variety of actives to be delivered into the skin.
"We are delighted to be working with Cynosure to evaluate broader applications of our VALE® based technology for light based procedures" said President John J. Masiz, Esq.
Aesthetic Market Opportunity
According to Medical Insight, Inc, an independent aesthetic treatment market research firm, the number of non-invasive aesthetic treatment procedures worldwide using laser and other light- based technologies will increase from nearly 58 million in 2006 to over 170 million in 2011, representing a compound annual growth rate of over 24%.
About BioChemics, Inc.
BioChemics is a pharmaceutical company that has developed a novel, transdermal drug delivery system for the first time that may allow almost any drug to be efficiently delivered through the skin. The transdermal technology, called VALE® (Vaso-active Lipid Encapsulated), may allow a substantial portion of the pharmacopeia to be re-engineered, turning oral drugs into transdermals that are safer (no gastro-intestinal problems), cheaper and potentially faster acting (applied directly to the treated area) than oral equivalents. The company's focus is on multi-billion dollar market opportunities currently underserved by existing therapies. The company's two lead clinical products focus on treating diabetic peripheral neuropathy and osteoarthritis. Founded in 1989, the Company is headquartered in Danvers, Massachusetts. Additional information is available at http://www.biochemics.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 lesions, rejuvenate skin through the treatment of shallow vascular and pigmented lesions, 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 http://www.cynosure.com.
VALE® is a registered trademark of BioChemics, Inc.