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SurgiLight
to receive $2 million license fee
SURGILIGHT Grants
License to Biolase for Presbyopia Patents
ORLANDO —
Feb 23, 2005 -- SurgiLight, Inc. (OTC Bulletin Board:SRGL)
announced that they have executed a license agreement
under which Biolase (Nasdaq:BLTI) has obtained the rights
to develop a product for the treatment of Presbyopia. Presbyopia
is a condition affecting nearly every individual over 40 in
which there is a decline in unaided near-distance sight.
Under the terms
of the agreement, Biolase will pay SurgiLight Two Million
Dollars ($2,000,000) upon fulfillment of certain conditions
over time. The agreement also establishes a minimum royalty
rate for third parties. All other terms and conditions are
confidential.
Dr. Colette Cozean,
CEO of Orlando-based SurgiLight commented, “BIOLASE
has demonstrated their ability to address a new market with
their dental applications. In addition, the management of
Biolase has significant experience in the ophthalmic field.
Their investigation of the potential therapeutic treatments
for Presbyopia and the clinical results for Laser Presbyopia
Reversal (LAPR), led them to inquire about licensing the SurgiLight
patents. We believe that not only will this funding allow
SurgiLight to expand its clinical trials in the United States
and capitalize on the CE approval for the Presbyopia application
we just received in Europe, but the credibility of a second
player in this market will significantly grow the market.
SurgiLight believes that LAPR has demonstrated its ability
to restore accommodation in adults over the age of 40 and
is committed to licensing this technology to other participants
in the marketplace.”
About SurgiLight
Surgilight, Inc.
(www.surgilight.com) is a leader in the development and acquisition
of new laser technologies for ophthalmic applications, including
presbyopia reversal and treatment, cataract removal and treatment
of glaucoma. The Company has recently received CE approval
to sell its OptiVisionTM laser for Presbyopia reversal throughout
Europe, expanding its existing presence in the Pacific Rim.
The Company holds 16 patents worldwide, with 23 patents pending.
About BIOLASE
BIOLASE
Technology, Inc. (http://www.biolase.com) is a medical technology
company that develops, manufactures and markets lasers and
related products focused on technologies for improved applications
and procedures in dentistry and related specialties. The company's
products incorporate patented and patent pending technologies
focused on reducing pain and improving clinical results. Its
primary product, the Waterlase® system, uses a patented
combination of water and laser to precisely cut hard tissue,
such as bone and teeth, and soft tissue, such as gums, with
minimal or no damage to surrounding tissue. The company also
offers the LaserSmile™ system, which uses a laser to
perform soft tissue and cosmetic procedures, including tooth
whitening.
This media release may contain
forward-looking statements regarding but not limited to market
potential, distributor success, market size, international
approvals, FDA clearances, clinical studies and results of
those studies, marketing, future events and performance of
SurgiLight, which involve risks and uncertainties that could
materially affect actual results. Investors should refer to
documents that SurgiLight files with the SEC for a description
of certain factors that could cause actual results to vary
from current expectations and the forward-looking statements
contained in this media release.
Keywords:
surgilight, surgilight.com, SurgiLight, SurgiLight Inc.,Surgi
Light, OptiVision, presbyopia, laser presbyopia reversal,
LAPR, refractive surgery, accomodation, ophthalmology, new
trends in ophthalmology, laser, ophthalmology laster, erbium
yag, YAG, glaucoma.
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