Mass market launch of light-based anti-ageing device delayed
The company’s partnership to develop, clinically test and commercialize the home-use device with Johnson & Johnson has been terminated with the consumer goods giant citing current unfavourable economic conditions as the reason, according to Palomar.
The device, which was given FDA 510k OTC clearance earlier in the year, will now be brought to the mass market by Palomar - but not straightaway.
“The current economic climate does not warrant a large scale investment in a mass market launch at this time. Therefore, we have adjusted our launch plans to be more in line with current economic conditions,” said Palomar CEO Joseph P Carruso.
The company will look into targeting specialist retail channels this year in the hope of gathering enough information for a large scale launch later next year.
