Palomar to continue research on a light-based self treatment device for military personnel with PFB
BURLINGTON, Mass., Oct. 25 /PRNewswire-FirstCall/ – Palomar Medical Technologies Inc (Nasdaq: PMTI), a leading researcher and developer of light-based systems for cosmetic treatments, today announced additional funding of $888,000 and a 12 month contract extension from the Department of the Army to continue development of a light-based self-treatment device for Pseudofolliculitis Barbae (“PFB”). The initial $2.5 million research contract was awarded to Palomar in February 2004 and was scheduled to last for nineteen months.