Hey Zeev, any thoughts on the potential market size and revenue potential for presbyopia treatment - the press release below states 110 million Americans? BLTI signed a licensing agreement today for patents related - looks like their next target market for the Waterlase.
<<BIOLASE Gains U.S. and International License to Presbyopia Patents
BIOLASE Acquires Fully-Paid License for Presbyopia
SAN CLEMENTE, CA, Feb. 23, 2005 (MARKET WIRE via COMTEX) -- BIOLASE Technology, Inc. (NASDAQ: BLTI), 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, today announced the signing of a fully-paid license agreement related to patents owned or licensed by SurgiLight, Inc. in the field of Presbyopia, which is a phenomenon of natural aging that results in the loss of near-reading ability over the age of 40 years old. According to the Wall Street Journal article "Reading the Fine Print," published on February 14, 2005, 110 million Americans suffer from Presbyopia.
Subject to a due diligence period and satisfaction of certain terms and conditions, BIOLASE will acquire fully-paid license rights in the U.S. and International markets to patents owned or licensed by SurgiLight, Inc. in the field of Presbyopia and other patents related to the field of Ophthalmology. If certain terms and conditions are satisfactorily met, BIOLASE will pay an aggregate consideration of $2.0 million in cash, which will be paid in scheduled installments.
"We are pleased to acquire rights to this large market opportunity. We believe our technology offers distinct and strong advantages over currently known approaches to treating Presbyopia. While it is premature to discuss the specific commercial impact of this transaction to our forward business model, we are confident this agreement will open new commercial opportunities for BIOLASE's core technology," commented Robert E. Grant, President and CEO.
The agreement is expected to be completed in March 2005. All other terms and conditions of the transaction are confidential.>>
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