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Gillette and Palomar Further Hair-Removal Deal Plans

November 15, 2005

Palomar Medical Technologies Inc. an- nounced that the company has entered the next phase of its pact with Gillette Co. to develop and commercialize a home-use, light-based hair removal device for women and that Gillette would boost its funding for the project.
Palomar was set to receive $7 million in development funding from Gillette under the original agreement. The company said it would receive an extra $2.1 million from Gillette in funding during a nine-month extension of the development phase, now planned to be completed by Aug. 31, 2006.
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