YOKNEAM, Israel, Aug. 7, 2013 /PRNewswire/ -- Syneron Medical Ltd. (NASDAQ:ELOS), the leading global aesthetic device company, announced today that it has received Korean Ministry of Food and Drug Safety (MFDS) approval for its elure™ Advanced Skin Lightening products. Pre-commercial market and clinical research will commence immediately, with commercial launch plans to be announced subsequently.
"We are very proud to have received Korean MFDS approval for our elure™ product line. The MFDS conducted a thorough review of the laboratory testing and other data for elure™ to confirm that it meets the high safety and efficacy requirements required of Functional Cosmetics in Korea," said Dr. Shimon Eckhouse, CEO of Syneron Medical. "Since its initial launch in other countries, we have received strong support from dermatologists who recommend elure™ to their patients to provide faster skin lightening results with an excellent safety profile for home-use. We are confident that elure™ will bring the same degree of unique efficacy and safety to the competitive Korean cosmetic market."
"In our practice and studies we found very significant skin lightening results with Lignin Peroxidase, with no adverse events," said dermatologist Zoe Diana Draelos, M.D., Consulting Professor, Department of Dermatology, Duke University School of Medicine, Durham, North Carolina." Asia is estimated to represent over $8 billion, or greater than 95% of global skin lightening retail revenues, with anywhere from 25% to over 50% of consumers using facial lightening products on a daily basis . The safety and efficacy profile of the elure™ product line make it ideal for Asian populations, and we look forward to building commercial plans on a country by country basis," said Jonathan Pearson, EVP Business Development, Topical Products, of Syneron Medical. "Korea, Japan, and the People's Republic of China are the core countries and focus for elure™ in our Asia-Pacific strategy, so the Korean MFDS approval is a key milestone towards commercialization." The elure™ line of skin lightening cosmetic products was launched by Syneron in 2010. elure™ products are based on Lignin Peroxidase (LiP), a proprietary enzyme which limits the appearance of pigmentation while correcting uneven skin tone to reveal a brighter and more glowing complexion. 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. SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS Any statements contained in this document regarding future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Further, any statements that are not statements of historical fact (including statements containing "believes," "anticipates," "plans," "expects," "may," "will," "would," "intends," "estimates" and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, such as the company's ability to effectively market the new enhancements, as well as the risks set forth in Syneron Medical Ltd.'s most recent Annual Report on Form 20-F, and the other factors described in the filings that Syneron Medical Ltd. makes with the SEC from time to time. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, Syneron Medical Ltd.'s actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. In addition, the statements in this document reflect the expectations and beliefs of Syneron Medical Ltd. as of the date of this document. Syneron Medical Ltd. anticipates that subsequent events and developments will cause its expectations and beliefs to change. However, while Syneron Medical Ltd. may elect to update these forward-looking statements publicly in the future, it specifically disclaims any obligation to do so. The forward-looking statements of Syneron Medical Ltd. do not reflect the potential impact of any future dispositions or strategic transactions that may be undertaken. These forward-looking statements should not be relied upon as representing Syneron Medical Ltd.'s views as of any date after the date of this document.  2010 edition of the 'Skin Lighteners' report by Global Industry Analysts
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts