BIOLASE Announces Launch of Occulase Website
Subsidiary Dedicated to Using WaterLase(R) Technology in
Ophthalmology; Seeking Strategic Partners for Investment in Joint
Venture with OCCULASE
IRVINE, CA -- (Marketwire) -- 01/23/13 -- 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
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
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,
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.
For further information, please contact:
In-Site Communications, Inc.
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