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STRATA Skin Sciences Announced Licensing Agreement for Certain MelaFind Assets

Business Oct 15, 2018 at 11:05

STRATA Skin Sciences Announced Licensing Agreement for Certain MelaFind Assets

July 2018, STRATA Skin Sciences a medical technology company in Dermatology and Plastic Surgery dedicated in developing, commercializing, and marketing innovative products for the treatment of dermatologic conditions, announced a fully paid exclusive and perpetual license agreement with a strategic entity for a de-identified digital image library of pigmented lesions and their related documentary information, related to STRATA’s discontinued MelaFind device. STRATA retains all intellectual property rights related to the MelaFind device and product line, including patents, design files and PMA approval to market. The strategic entity will be allowed exclusive rights to the de-identified digital images.

MelaFind® was developed by the Company with the intention to provide a dermatologist with a software-driven image analysis of clinically irregular pigmented moles when they choose to obtain additional info to help decide whether or not to biopsy (at the most curable and cost-effective stage). MelaFind® is both FDA Pre-Market Approved (PMA) for the U.S. and has CE Marking certification for the European Union.

Increasing demand for cosmetic treatments to promote growth in the Facial Treatment market over 2018 to 2024

The increasing demand for cosmetic treatments, and growing purchasing power of modern consumers are driving the growth of the market. Furthermore, consumers’ enthusiasm to spend significant amounts on cosmetic facial treatment and increasing occurrence of dermatological conditions are also boosting facial treatment market. Increasing pollution levels regarding facial treatment, rising adoption of unhealthy lifestyles and dietary choices which resulted in a growth in a number of diseases including dermatological conditions are fuelling the growth of the facial treatment market. Besides, rising demand for cosmetic treatments is also likely to increase the growth of the market in upcoming years.

North America is likely to dominate the facial treatment market through 2018-2024

North America is likely to dominate the facial treatment market. While the Asia Pacific is expected to emerge as a noteworthy contributor to the facial treatment market. In North America region factors such as increasing prevalence of dermatological disorders that require the use of facial treatment are driving the market growth. Increasing disposable income of consumers and willingness to spend on their appearance in the Asia Pacific region are boosting the growth of the facial treatment market.