Cynosure, a Westford, MA-based cosmetic laser company, (NASDAQ: CYNO) and its largest shareholder are suing a California rival for allegedly infringing on a patent for a liposuction tool.
Cynosure and El.En. of Firenze, Italy, allege that CoolTouch of Roseville, CA, violated their patent for using laser energy to remove subcutaneous fat. The lawsuit was filed this week in U.S. District Court in Massachusetts; it seeks monetary damages from CoolTouch and an injunction to stop them from using the patent.
Cynosure and El.En. say the patent in question is owned by El.En., a major European cosmetic laser company, and licensed by Cynosure. Cynosure’s product based on the patent launched in early 2007. CoolTouch could not be reached for comment.
The cosmetic laser market represents a huge part of the life sciences sector that will only grow as Baby Boomers age and demand more treatments. Market analysts Eli Kammerman and Krishna Gurijala of New York-based firm Cowen and Company estimated in a 2006 report that the sector had reached nearly $1 billion in domestic sales alone. They saw the market almost doubling by 2011, and liposuction laser treatments represent a small, but growing portion of that number.
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