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Electro Optical Sciences Announces Agreement With L'Oreal for Cosmetic Applications of Novel Imaging Technology
| Source: Electro Optical Sciences, Inc.
IRVINGTON, NY -- (MARKET WIRE) -- March 28, 2007 -- Electro Optical Sciences, Inc. ("EOS")
(NASDAQ : MELA ) today announced the signing of an agreement with L'Oreal to
study and assess the feasibility of using EOS' novel multi-spectral imaging
technology for the evaluation and differentiation of pigmented skin lesions
of cosmetic importance. EOS has granted L'Oreal an option to take an
exclusive license to use EOS technology in the field covered by the
research, on terms to be mutually agreed. The laboratory and clinical
research will be funded by L'Oreal.
"We are delighted to collaborate with the L'Oreal researchers in Paris who
are acknowledged worldwide leaders in the science of skin conditions," said
Joseph V. Gulfo, MD, MBA, President and Chief Executive Officer of EOS.
"The work that we will perform with L'Oreal is based on the years of
clinical research that we have undertaken and experience that we have
amassed in the development of MelaFind®. Important multi-spectral
imaging-based diagnostic systems for cosmetic conditions may result
directly from this collaboration."
"Based on the results to date with MelaFind, we believe that EOS possesses
excellent technology for automated evaluation of pigmented skin lesions of
cosmetic importance," said Olivier De Lacharierre, MD, Director of
Prospective Clinical Research of L'Oreal. "We look forward to working with
the EOS team and developing technology that will advance the
differentiation and cosmetic treatment of these lesions."
About Electro-Optical Sciences
EOS is a medical device company focused on designing and developing a
non-invasive, point-of-care instrument to assist in the early diagnosis of
melanoma. MelaFind®, EOS's flagship product, features a hand-held
imaging device that emits light of multiple wavelengths to capture images
of suspicious pigmented skin lesions and extract data. Using sophisticated
algorithms, the data are then analyzed against a proprietary database of
melanomas and benign lesions in order to provide information to the
physician and produce a recommendation of whether the lesion should be
biopsied.
Melanoma is the deadliest of skin cancers, responsible for approximately
80% of all skin cancer deaths. Unless melanoma is detected early and
excised with proper margins, the patient survival rate is poor, as there is
currently no cure for advanced stage melanoma.
For more information on EOS, visit www.eosciences.com.
Safe Harbor
This press release includes "forward-looking statements" within the meaning
of the Securities Litigation Reform Act of 1995. These statements include
but are not limited to our plans, objectives, expectations and intentions
and other statements that contain words such as "expects," "contemplates,"
"anticipates," "plans," "intends," "believes" and variations of such words
or similar expressions that predict or indicate future events or trends, or
that do not relate to historical matters. These statements are based on our
current beliefs or expectations and are inherently subject to significant
uncertainties and changes in circumstances, many of which are beyond our
control. There can be no assurance that our beliefs or expectations will be
achieved. Actual results may differ materially from our beliefs or
expectations due to economic, business, competitive, market and regulatory
factors.