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Class of 1979
September 12, 2011 – NuvoLase Inc., a Delaware corporation, announced today it has acquired from PinPointe USA all rights, assets and intellectual properties associated with the PinPointe FootLaser. Pursuant to its agreement with PinPointe USA, NuvoLase also gains access to all current and future product development activities.
PinPointe FootLaser, the first light-based device to receive FDA clearance specific to the treatment of Onychomycosis (nail fungus), is recognized by industry leaders as the gold standard product and alternative treatment for those patients suffering from Onychomycosis. With almost 100,000 treatments performed worldwide with the PinPointe FootLaser thus far, the FootLaser is the only device on the market today with documented clinically proven efficacy for the treatment of nail fungus. As part of the transaction NuvoLase also has access to all the regulatory clearances for the FootLaser, including the FDA clearances, CE Mark, TGA and Health Canada.
NuvoLase Inc. also announced today that it has selected a seasoned veteran with significant medical, laser and industry experience to take this business opportunity to new levels. Effective immediately, Mr. Steven P. Duddy has been appointed President and CEO of NuvoLase and will also serve as member of the company’s Board of Directors.
Mr. Duddy commented, “I am both pleased and excited about the opportunity. The PinPointe FootLaser continues to be the product/treatment of choice for those looking for an alternative to risky oral medications.” He added, “Short term, NuvoLase will be focused on expanding market share, both domestically and abroad, and increasing revenue through focused distribution and marketing activities. Longer term, we will utilize the existing technology and intellectual properties as a spring board to grow our product portfolio, thus increasing our overall value to customers, employees, shareholders and investors.”
NuvoLase Inc. operations will be headquartered in Chico, California.
Financial terms of the agreement are undisclosed.
About NuvoLase Inc.
NuvoLase, Inc. develops and markets innovative devices for healthcare providers worldwide. NuvoLase products provide superior clinical performance – the result of solid research, sound science, and extensive clinical experience. The PinPointe FootLaser is available worldwide.
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