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Date Announced: 25 Jul 2013
Deal with Valam Corp. paves way to emerging market.
IRVINE, CA--(Marketwired - Jul 25, 2013) - BIOLASE, Inc. (NASDAQ: BIOL), the world's leading manufacturer and distributor of dental lasers, and a pioneer in laser surgery in other medical specialties, announced today that it has entered into a strategic agreement with Valam Corporation ("Valam") to develop, market, and sell office-based laser systems to otolaryngologists (also known as "Ear, Nose, and Throat" or "ENT" doctors).
The agreement provides BIOLASE® with an ENT laser patent portfolio, plus the know-how and marketing support of Dr. Yosef Krespi, one of the world's leading authorities on the use of lasers for the surgical treatment sinusitis, sleep apnea, and office-based laser procedures. BIOLASE's EPIC™ 10 soft-tissue laser has already been cleared by the U.S. Food and Drug Administration (the "FDA") for use in ENT surgical procedures.
Dr. Krespi is Clinical Professor of Otolaryngology at Columbia University and founding member of the New York Head & Neck Institute, where he also chairs the Sleep Disorders Center. Valam has been the vehicle over the years for him to place his innovations in ENT laser concepts, including lasers for sinusitis, laser microbial killing / biofilm disruption, and the use of lasers for treating halitosis.
"The Valam team is very excited about this strategic relationship, we could not think of a better corporate partner than BIOLASE to launch laser products that are the culmination of years of ENT-specific surgical laser research and development," said Dr. Krespi of Valam.
Federico Pignatelli, Chairman and Chief Executive Officer of BIOLASE, said, "We look forward to being able to offer an elegant, simple-to-use, precision laser-based biologic cutting tool to the 9,000 practicing otolaryngologists in the United States."
"BIOLASE has planned to enter the ENT market with a clinical laser product offering. Valam and Dr. Krespi give us the opportunity to enter the ENT space with a robust product and a thought-leader in the field as our initial spokesperson and product champion."
"Our partnership with Valam includes an exclusive worldwide license to all of Valam's ENT-related patents and pending patents, which when combined with BIOLASE's existing ENT laser-related patents, creates a formidable patent estate," said Alexander K. Arrow, MD, President and Chief Operating Officer of BIOLASE.
"BIOLASE plans to hire a small specialized ENT sales force in advance of our ENT launch, which could occur as soon as the fourth quarter of this year."
Source: Biolase
E-mail: via web site
Web Site: www.biolase.com
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