BIOLASE Announces Launch of Occulase Website
January 23 2013 - 8:30AM
Marketwired
BIOLASE, Inc. (NASDAQ: BIOL), the world's leading dental laser
manufacturer and distributor, announced today that it has launched
a website to showcase OCCULASE, a wholly-owned subsidiary of
BIOLASE, dedicated to expanding the multiple applications of its
proprietary WaterLase technology and other related intellectual
property into ophthalmology.
"We are excited to launch the OCCULASE website, which highlights
the many synergies that exist with the application of our
biomedical WaterLase technology and other related intellectual
property in both dentistry and ophthalmology. Our technology has
helped to make us the world leader in dentistry with over 21,000
lasers sold, and we believe that there are significant market
opportunities for both surgical and non-surgical applications in
ophthalmology," said Federico Pignatelli, Chairman and CEO.
"In a virtually seamless shift, we can apply BIOLASE's
revolutionary surgical methods using our minimally-invasive,
proprietary laser energy to ophthalmology. There are numerous
applications for BIOLASE's core technologies in other medical
fields, and the realization of any one of these assets would
provide significant value to our shareholders, on top of what we
can accomplish in dentistry," Pignatelli added.
OCCULASE, under the direction of BIOLASE, is currently
performing proof of concept research and clinical studies with the
assistance of various ophthalmic specialists under the supervision
of Dan Durrie, its Chief Ophthalmology Advisor.
"Our current plan is to move into this new market with minimal
disruption to our core dental laser business by continuing to
perform research, clinical studies, and pursue additional 510(k)
applications to further expand WaterLase's capabilities in
ophthalmology. At the same time, we are searching for key strategic
partners through a joint venture or other similar approach to
invest $30 million to $50 million in OCCULASE for a 30 to 50
percent ownership for the purpose of commercializing these
opportunities," said Fred Furry, Chief Operating Officer and Chief
Financial Officer. "These strategic partners will be investing in
OCCULASE, not BIOLASE, and we expect this could serve as an
important blueprint for other potential market entries."
About BIOLASE, Inc. BIOLASE, Inc. is a biomedical company that
develops, manufactures and markets dental lasers and also
distributes and markets dental imaging equipment; products that are
focused on technologies that advance the practice of dentistry and
medicine. The Company's laser products incorporate approximately
290 patented and patent-pending technologies designed to provide
biological treatment and clinically superior performance with less
pain and faster recovery times. Its imaging products provide
cutting-edge technology at competitive prices to deliver the best
results for dentists and patients. BIOLASE's principal products are
dental laser systems that perform a broad range of dental
procedures, including cosmetic and complex surgical applications,
and a full line of dental imaging equipment and CAD/CAM systems.
BIOLASE has sold more than 21,000 lasers.
Other products under development address ophthalmology and other
medical and consumer markets.
About OCCULASE, Inc. OCCULASE's mission is to incubate the
numerous applications for BIOLASE's WaterLase technology and other
intellectual property within the various fields of Ophthalmology,
including, but not limited to, performing various clinical studies
and pursuing additional 510(k) applications to continue to further
expand WaterLase's capabilities.
OCCULASE is a wholly owned subsidiary of BIOLASE, Inc. and was
created by the Board of Directors of BIOLASE to address the
tremendous applications for WaterLase technology within
ophthalmology. BIOLASE/OCCULASE currently holds over 290 issued and
pending, U.S. and international patents, over 70 percent of which
relate to BIOLASE's core WaterLase technology. Further, OCCULASE
currently holds 17 issued and 17 pending U.S. and international
patents in four patent families of ophthalmology and is FDA cleared
as a general cutting tool for the eye. All systems for Occulase
will be exclusively manufactured by BIOLASE at its Headquarters in
Irvine, CA.
More information can be found at www.Occulase.com.
For updates and information on WaterLase and laser dentistry,
find BIOLASE online at www.biolase.com, Facebook at
www.facebook.com/biolaseinc, Twitter at twitter.com/biolaseinc, and
YouTube at www.youtube.com/biolasevideos.
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For further information, please contact: Lisa Wilson In-Site
Communications, Inc. 212-759-3929
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