
Iluminage Beauty, the joint venture between Unilever Ventures & Syneron Medical Ltd. (NSDQ:ELOS), won expanded indication from the FDA for its "me" brand of home-use hair removal products.
The device, which uses Syneron’s proprietary elos technology, is now indicated for permanent reduction in hair growth. This development adds to existing indication for the device as the “1st and only FDA cleared consumer hair removal technology that is approved for all skin tones,” according to a press release.
“There has been strong adoption of the me system in the U.S. since its initial launch at the beginning of the year," Iluminage Beauty CEO Fabian Tenenbaum said in prepared remarks. "The expanded indication, along with our new joint venture, will position us to continue increasing awareness of the me system among consumers and partners."
Iluminage Beauty was introduced in November, as a joint venture of Syneron Medical’s subsidiary, Syneron Beauty, and Unilever Ventures, the venture capital division of consumer goods giant Unilever.