IRIDEX Announces Global Distribution and Supply Agreement with Peregrine Surgical, Ltd.

   IRIDEX Announces Global Distribution and Supply Agreement with Peregrine
                                Surgical, Ltd.

Agreement to broaden IRIDEX' ophthalmology surgical product portfolio and
enhance manufacturing supply chain efficiencies

PR Newswire

MOUNTAIN VIEW, Calif., April 2, 2013

MOUNTAIN VIEW, Calif., April 2, 2013 /PRNewswire/ --IRIDEX Corporation
(Nasdaq: IRIX) today announced that it has entered into a global distribution
and supply agreement with Peregrine Surgical, Ltd., a privately held company
based in New Britain, Pennslvania. Under the agreement, IRIDEX will become a
worldwide distributor for Peregrine labeled products and Peregrine Surgical
will become part of the IRIDEX supply chain for the manufacture of certain
IRIDEX products. 

"IRIDEX has been a long time provider of proprietary, consumable ophthalmology
surgical instruments such as laser EndoProbe^® Handpieces and GreenTip^™
cannulas," said Will Moore, President and CEO of IRIDEX. "Part of our growth
strategy is to broaden this portfolio of consumable products to meet the
growing therapeutic demands of both hospitals and ambulatory surgery centers.
Peregrine is an ideal partner to assist IRIDEX in not only broadening our
channel offering and driving costs out of our supply chain, but we anticipate
our partnership will also accelerate product development cycles for new
disposable products."

"Peregrine Surgical has invested in establishing high quality and efficient
manufacturing of surgical instruments," stated Todd Richmond, President of
Peregrine Surgical. Mr. Richmond further stated, "The global reach of IRIDEX
will represent a mutually beneficial partnering for the brand names of both
companies."

This arrangement involves IRIDEX assuming management of Peregrine Surgical's
independent distribution channel in the US and IRIDEX anticipates introducing
Peregrine's products to its OUS channels in the near future. The integration
should provide additional coverage and leverage for both company's product
lines.

About IRIDEX

IRIDEX Corporation was founded in 1989 and is a worldwide leader in
developing, manufacturing, and marketing innovative and versatile laser-based
medical systems, delivery devices and consumable instrumentation for the
ophthalmology market. We maintain a deep commitment to the success of our
customers, with comprehensive technical, clinical, and service support
programs. IRIDEX is dedicated to a standard of excellence, offering superior
technology for superior results. IRIDEX products are sold in the United States
through a direct sales force and internationally through a combination of a
direct sales force and a network of approximately 70 independent distributors
into over 100 countries. For further information, visit the IRIDEX website at
http://www.iridex.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Act of 1934, as amended, relating to the markets for the Company's
products and the anticipated benefits of the Company's relationship with
Peregrine Surgical, Ltd. These statements are not guarantees of future
performance and actual results may differ materially from those described in
these forward-looking statements as a result of a number of factors. Please
see a detailed description of these and other risks contained in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2011, and our
Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2012,
June 30, 2012, and September 29, 2012, each of which was filed with the
Securities and Exchange Commission. Forward-looking statements contained in
this announcement are made as of this date and will not be updated.

SOURCE IRIDEX Corporation

Website: http://www.iridex.com
Contact: IRIDEX, Jim Mackaness, CFO & COO, +1-650-940-4700 or Investor
Relations, Matt Clawson, Allen & Caron, +1-949-474-4300, matt@allencaron.com