Syneron Receives Korean MFDS Approval for elure™ Advanced Skin Lightening Products Expands Market for First-of-its-kind, Melanin Reducing, Skin Lightening Products
YOKNEAM, Israel, Aug. 7, 2013 /PRNewswire/ -- Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today that it has received Korean Ministry of Food and Drug Safety (MFDS) approval for its elure™ Advanced Skin Lightening products. Pre-commercial market and clinical research will commence immediately, with commercial launch plans to be announced subsequently.
"We are very proud to have received Korean MFDS approval for our elure™ product line. The MFDS conducted a thorough review of the laboratory testing and other data for elure™ to confirm that it meets the high safety and efficacy requirements required of Functional Cosmetics in Korea," said Dr. Shimon Eckhouse, CEO of Syneron Medical. "Since its initial launch in other countries, we have received strong support from dermatologists who recommend elure™ to their patients to provide faster skin lightening results with an excellent safety profile for home-use. We are confident that elure™ will bring the same degree of unique efficacy and safety to the competitive Korean cosmetic market."
"In our practice and studies we found very significant skin lightening results with Lignin Peroxidase, with no adverse events," said dermatologist Zoe Diana Draelos, M.D., Consulting Professor, Department of Dermatology, Duke University School of Medicine, Durham, North Carolina.
"Asia is estimated to represent over $8 billion, or greater than 95% of global skin lightening retail revenues, with anywhere from 25% to over 50% of consumers using facial lightening products on a daily basis. The safety and efficacy profile of the elure™ product line make it ideal for Asian populations, and we look forward to building commercial plans on a country by country basis," said Jonathan Pearson, EVP Business Development, Topical Products, of Syneron Medical. "Korea, Japan, and the People's Republic of China are the core countries and focus for elure™ in our Asia-Pacific strategy, so the Korean MFDS approval is a key milestone towards commercialization."
The elure™ line of skin lightening cosmetic products was launched by Syneron in 2010. elure™ products are based on Lignin Peroxidase (LiP), a proprietary enzyme which limits the appearance of pigmentation while correcting uneven skin tone to reveal a brighter and more glowing complexion.
About Syneron Medical Ltd.
Syneron Medical Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company with a comprehensive product portfolio and a global distribution footprint. The Company's technology enables physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, rejuvenation of the skin's appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite. The Company sells its products under two distinct brands, Syneron and Candela. Founded in 2000, the corporate, R&D, and manufacturing headquarters for Syneron Medical Ltd. are located in Israel. Syneron also has R&D and manufacturing operations in the US. The Company markets, services and supports its products in 90 countries. It has offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and distributors worldwide.
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 2010 edition of the 'Skin Lighteners' report by Global Industry Analysts
SOURCE Syneron Medical Ltd.