•: Endoscopy UK to distribute WavStAT. SpectraScience Inc. (Minneapolis-St. Paul, MN) signed a distribution agreement with Endoscopy UK Ltd. for distribution of its WavSTAT Optical Biopsy System. With this agreement, the company plans to expand its native, or in-country distribution, of the product.
• Bausch & Lomb expands sovereignty. In addition to acquiring a LaserSight Inc. (Winter Park, FL) nonexclusive license to the '679 patent (the scanning patent) for use in the ophthalmic field, Bausch and Lomb (B&L; Rochester, NY) formed a branding partnership with LCA-Vision Inc. (Cincinnati, OH). LaserSight granted the scanning laser license to B&L in exchange for an initial license fee of $3 million with a possible additional payment of $2 million. The company claims that the patent agreement is just the first of subsequent steps in strategic development of products.
In the LCA-Vision deal, LCA-Vision will name its flagship Cincinnati facility “LasikPlus, a Bausch & Lomb Laser Center,”. If a patient is found to be a noncandidate for LASIK, the center will offer its other B&L products, including contact lenses and over-the-counter eye products.
• Abbott and SpectRx extend agreement. Abbott Laboratories purchased an additional $1 million in SpectRx (Norcross, GA) to continue work on SpectRx's continuous glucose-monitoring technology for diabetes, which the two companies are jointly developing. SpectRx has focused its production efforts on diagnostic products like the BiliChek for infant jaundice. In addition to the glucose-monitoring device, the company is developing a noninvasive device for early detection of cervical cancer.
In other news, SpectRx shareholders have approved private placements with institutional investors, which resulted in gross proceeds of $12 million to the company.
•Who's on First? A judge in the Federal Court of the Northern District of California gave its ruling about the ongoing Nidek/VISX patent infringement war. On September 21, VISX Inc. (Santa Clara, CA) CEO Liz Davila said that the ruling “provides VISX with the support needed for full injunctive and damages relief against Nidek (Gamagori, Japan).” On September 24, however, Nidek indicated that the district court offered a well-reasoned opinion that agreed with Nidek's position on the '388 patent regarding LASIK. Notes Hideo Ozawa, Nidek president, “It is unfortunate that VISX would once again attempt to mislead the public with Friday's hasty and inaccurate announcement on a ruling that is open to all to evaluate.” If he's on first, then who's on second?
In other news, the US Patent and Trademark Office issued a reexamination certificate regarding US Patent #4,903,695, the '695 LASIK Patent. VISX believes that all LASIK procedures performed in the USA are covered by the '695 patent. It does not expire until 2007.
•EnVision to distribute Surgilight products.. Surgilight (Orlando, FL) has signed an exclusive agreement with Envision Inc. (Vancouver, BC, Canada), a distributor of high-tech medical equipment in Canada, to sell its IR-3000, a laser for ophthalmic treatment, in Mexico and the Caribbean. EnVision has agreed to purchase approximately $3 million worth of systems over the next three years and will purchase its first system in October.
•Trimedyne to renew image with investors. Trimedyne Inc. (Irvine, CA) has appointed the I. W. Miller Group Inc. as its new financial public-relations consultants. Trimedyne expects the PR firm to educate both the public and investors about the applications of its lasers and also about Trimedyne's realistic financing plans. Recognizing that the cost of the lasers may likely prohibit purchase, the company rents the lasers through a laser rental subsidiary and through revenue-sharing contracts with others. The lasers are available on a fee-per-case basis and come complete with the trained operator. Trimedyne hopes that I. W. Miller will make the feasibility of laser use known to potential users, thereby increasing product and investor interest.
•First Nordic Sunrise LTK. Sunrise Technologies International (Fremont CA) performed its first LTK procedures in a Nordic country at The Eye Laser Clinic in Stockholm, Sweden, using the Hyperion LTK system
•Biolase to market lasers in Korea. Biolase Technology Inc. (San Clemente, CA) received approval to market its Waterlase hard- and soft-tissue lasers in South Korea. The laser will be distributed by Daemyung Medi-Tech Co. Ltd., a firm that is already well established in the Korean dental market. The company will work with 20 subdistributors throughout Korea and has committed to purchase at least 15 Waterlase systems before the end of 2001; it expects sales in 2002 to exceed $1.0 million.
Financial Scoreboard
• SurgiLight Inc. (Orlando FL) completed its second-quarter 2001 with revenues of $0.5 million, compared with revenues of $1.0 million in 2000. Net loss for the period was $0.4 million, compared with a net gain of $12,000 in 2000. The company attributed the decrease in revenues to a decrease in excimer-laser system sales.
• Trimedyne's (Irvine, CA) Q2 revenues were $1.03 million in 2001, compared with revenues of $1.08 million the previous year. Net loss for the quarter was $1.7 million, compared with a net loss of $0.97 million in 2000.
• Surgical Laser Technologies Inc. (Montgomery, PA) posted Q2 sales of $2.7 million, an increase of 33% over the 2000 sales of $2.0 million. Net income for Q2 2001 was $36,000, compared with a net income of $42,000 in Q2 of 2000.
Source: Medical Laser Report, October 1, 20001.