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Syneron shares sink after FDA rejects marketing application.

Asia Africa Intelligence Wire

| November 30, 2004 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Israel Business Arena)

Byline: Globes correspondent

Shares of Yokne'am-based medical devices company Syneron Medical (Nasdaq: ELOS) are down $7.31, or 19.65%, to $29.89 on Nasdaq, after it suffered a setback in obtaining US Food and Drug Administration (FDA) approval to market its VelaSmooth cellulite treatment. The FDA notified Syneron that it would not be able to market the VelaSmooth system in the US with a 510K pre-market notification. The FDA has asked the company to resubmit the device with a PMA (premarket approval) application.

VelaSmooth combines radiofrequency waves, a laser, and a mechanical massage to treat cellulite…

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