MOUNTAIN VIEW, Calif., Oct. 7, 2014 /PRNewswire/ -- IRIDEX Corporation (NASDAQ:IRIX) today announced that the United States Patent and Trademark Office granted the company a patent for a new proprietary disposable delivery device. The disposable delivery device, the first of its kind, enables ophthalmologists to administer IRIDEX' proprietary MicroPulse Laser Therapy in a unique and non-invasive way. The new disposable delivery device was developed to address a broad range of glaucoma patients and is planned to be commercially available in the first quarter of 2015.
"Creating innovative devices to extend the reach of our MicroPulse Laser Therapy for the treatment of both retina conditions and glaucoma is one of our company's key objectives," said Will Moore, IRIDEX President and CEO. "This new delivery device is the first of several proprietary and disposable glaucoma technologies planned for release, and it represents a significant step towards our goal of growing procedural based recurring revenues. Our aim is to create durable and cost-effective treatment options to align with the global trend of value-based medicine."
Glaucoma is the leading cause of adult irreversible blindness. It is estimated that more than 4 million people in the US and approximately 60 million worldwide are afflicted with the disease today. It is IRIDEX' opinion that the safety profile of MicroPulse may provide a treatment alternative for patients while also allowing physicians' to use other types of required glaucoma therapies as the disease progresses.
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. The company maintains 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 both direct and independent sales forces 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 company's 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, including those statements concerning the commercial release of the proprietary disposable delivery device described in this announcement, the Company's strategic plans and objectives, product plans and future product releases, including proprietary glaucoma disposables, the usage and effectiveness of any such products, and trends in treatment and product usage. 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 28, 2013, 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
Company Contact: Jim Mackaness, Chief Financial Officer & Chief Operating Officer, 650-940-4700, Investor Relations Contact: Matt Clawson, Pure Communications, 949-370-8500, matt@purecommunicationsinc.com
