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news.Palomar Medical Technologies, a developer of light-based systems for cosmetic treatments, and Reliant Technologies, a developer of clinical solutions to rejuvenate aging and environmentally damaged skin, have formed a Fractional Technology Open Patent Program to offer licenses in the professional field to key intellectual property in the fractional space.
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The Fractional Technology Open Patent Program (FTOPP) contains six fundamental fractional patent families including issued patents and pending patent applications owned or controlled by Palomar, Reliant and Massachusetts General Hospital (MGH). In addition to this program Palomar and Reliant have entered into certain cross-licenses between the two companies.
According to Palomar Medical Technologies, Palomar, Reliant and MGH are the owners of the fundamental intellectual property in fractional technology. In order to encourage further development of fractional products while also seeking compensation for their early, ground breaking work, Palomar, Reliant and MGH have created the FTOPP to provide others in the industry the opportunity to license the necessary intellectual property.
Joe Caruso, president and CEO of Palomar Medical Technologies, said: “The FTOPP presents a compelling collection of intellectual property assets that are necessary to operate in the fractional space. We believe companies exploiting fractional technology will find it in their interest to take an FTOPP license and not risk the consequences of infringing such a large number of patents.”