P&G, Syneron Medical Team Up on Anti-Aging Solution

2007-02-27 | 08:12

Syneron Medical Ltd. and The Procter & Gamble Company announced today they signed an exclusive joint development and supply agreement for the commercialization of patented, elos-based, home-use devices and compositions designed to enhance skin’s appearance by treating fine lines, wrinkles, age and sun spots and cellulite. P&G selected elos technology as its preferred, non-invasive, energy-based solution for home-use aesthetic treatments in this field. Under the terms of the agreement Syneron will lead the research, development and manufacturing, while P&G will focus on the development of the compositions, marketing and distribution. The home-use devices will be marketed under the P&G family of skin care products and will be co-branded with Syneron's elos technology. P&G and Syneron plan further collaboration that could lead to commercializing additional products in the future. “We are very pleased to team-up with P&G, a global leader and innovator in skin and beauty products,” said Syneron chairman Shimon Eckhouse. “We believe that this new partnership, fueled by our proprietary elos technology, positions us optimally for leading the mass commercialization of energy-based, home-use devices while creating significant value for our customers and shareholders.” Dr. Eckhouse continued, “This collaboration will also benefit our professional customers by increasing the consumer awareness of the benefits of elos and energy-based devices.” “We're excited about this agreement to work with Syneron,” noted Shekhar Mitra, P&G’s vice president for research and development, personal beauty care. “A clear P&G Beauty strategy is to provide consumers with products that provide noticeable benefits. This is also another example of our corporate open innovation strategy, which we call Connect + Develop. This helps us bring to market faster at better value, products that make a meaningful difference to the lives of the consumer. When we do that, everyone wins, especially the consumer.”