Syneron Medical Ltd. and Candela Corporation (collectively, “Candela”), a leading global aesthetic device company and the exclusive licensee of certain patents of General Hospital Corporation, d/b/a Massachusetts General Hospital (“MGH”), and Invasix, Inc., InMode, Ltd., and InMode MD, Ltd. (collectively, “InMode”), a leader in cutting edge minimally invasive medical solutions, announce that they have entered into a worldwide comprehensive mutual settlement agreement ending the patent disputes between the companies. Terms of the settlement agreement are not disclosed.
The mutually agreed-upon settlement, through a sublicense from Candela, allows InMode to continue to actively market its bi-polar fractional RF product line, which includes the Fractora and the Morpheus8, protecting Candela’s investment in the development of products in the long pulse category. Candela’s Profound system is the only FDA-cleared, real-time temperature-controlled device that delivers long pulses of Radio Frequency energy to create all three skin fundamentals – collagen, elastin and hyaluronic acid. InMode’s Fractora and Morpheus8 are FDA-cleared for skin ablation and resurfacing, coagulation, hemostasis and treatment of wrinkles.
Geoffrey Crouse, Chief Executive Officer of Candela, commented, “Candela is focused on science, results and trust. We invest heavily in Research and Development and will continue to enforce our intellectual property rights so that we can develop innovative technology and invest in clinical research to address unmet clinical needs in aesthetic medicine. We are pleased to have reached a settlement with InMode on mutually-agreeable terms.”
Moshe Mizrahy, co-founder and Chief Executive Officer of InMode, commented, “InMode is a fast-growing company with an emphasis on innovation and science, having over 40 peer-reviewed publications and a strong IP portfolio. We look forward to moving on and fulfilling our mandate of launching advanced solutions for doctors and clinics worldwide.”