Strata Skin Sciences (NSDQ:SSKN) said it has reached an agreement with an “internationally acclaimed health institution” giving Strata an exclusive license to treat vitiligo using its Xtrac excimer laser.
In a novel treatment for vitiligo, the excimer laser incrementally increases the light emitted in the UVB range to restore pigmentation to skin areas affected with vitiligo. A disorder in which melanocytes — the skin cells that make pigment — are destroyed, vitiligo causes white patches to surface on the skin. The cause is unknown.
“We are quite pleased to have secured the license and exclusive rights to this technology, which impacts approximately 21% of Strata’s domestic recurring revenue,” said Strata CEO Dolev Rafaeli in a prepared statement. “This is a very valuable asset for the company and means that only Strata has the right to utilize this novel and patented method to treat vitiligo… These rights provide us with a valuable lever which we intend to use to enhance the unique value proposition of the Xtrac platform in the U.S.”
The Horsham, Penn. company’ did not identify the health institution. Its Xtrac laser is used to treat psoriasis, vitiligo, eczema, atopic dermatitis and leukoderma, diseases that affect more than 35 million patients in the United States. The technology is covered by multiple patents.
In May, Strata said it had raised $17 million and refreshed its executive roster with Rafaeli as the new CEO, a new board chair and a new chief financial officer.