PhotoMedex was incorporated in 1987 under the name Laser Photonics, Inc. The name was changed in June 2000 to highlight the company’s focus on developing light-based technologies for health-care applications.
Its new XTRAC excimer laser system is the first FDA market approved laser treatment for psoriasis, the second most common skin disorder in the United States. Light years ahead of other treatment methods, XTRAC is designed to provide effective relief from unsightly and sometimes painful psoriatic skin lesions. A clinical study at Massachusetts General Hospital demonstrated that the XTRAC system is safe and effective for treating psoriasis.
The Company’s TMR System for the treatment of coronary heart disease creates new channels for blood to flow to ischemic myocardium. Rather than opening narrowed coronary arteries, the TMR System is intended to treat ischemic myocardium directly, by lasing small channels through ischemic areas of the heart, which connect directly with the left ventricle of the heart, a reservoir of oxygen-rich blood. The company believes that these channels may provide new pathways for blood flow into the heart, however, there can be no assurance to this effect. The Company’s TMR System requires pre-market approval (“PMA”) prior to being marketed in the United States.