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News Release - February 27, 2018
BIOLASE Announces Memorandum Of Understanding With S-Ray To Market, Sell Disruptive Radiation-Free Dental Imaging DeviceInnovative ClearView SCAN™ Device: Dentistry's First Intra-oral Ultrasound Diagnostic Imaging
IRVINE, Calif., Feb. 27, 2018 -- (Healthcare Sales & Marketing Network) -- BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today announced that it has executed a non-binding Memorandum of Understanding ("MOU") with Redmond, WA-based S-Ray Incorporated ("S-Ray") to exclusively market and sell S-Ray's patented ClearView SCAN™ system, a disruptive and innovative ultrasound-based intraoral imaging system in the North American dental markets. ClearView SCAN is designed to be adjunct radiation-free imaging for soft-tissue anatomy that radiographs fail to detect, delivering a new category of imaging capability to clinicians for diagnosis and treatment planning.
The MOU, which is subject to the negotiation and execution of a definitive agreement between BIOLASE and S-Ray, covers the multi-year terms of the exclusive distribution and service arrangement for the ClearView SCAN system. The terms of the MOU include provisions for a commitment of significant funds by S-Ray for market development activities for the new technology platform, starting in the Southern California dental market where BIOLASE is headquartered.
"Ultrasound imaging is a rapidly evolving technology that will provide additional valuable diagnostic information without exposing patients to harmful radiation. With patented application-specific ClearView SCAN probes and software apps that can be optimized for target tissues and anatomy, the ClearView SCAN will deliver innovative diagnostic images, from snapshots, to clips, to live real-time monitoring, providing the clinician for the first time, imaging unavailable in any other format" said Jimin Zhang, Ph.D, Chief Technology Officer of S-Ray. "BIOLASE is the leader in laser dentistry with vast experience in introducing and marketing game-changing technology to the dental market, making BIOLASE the right partner for S-Ray. Taking advantage of the combination of BIOLASE's well-established infrastructure and S-Ray's patented dental ultrasound technology will best serve our mutual dental industry customers."
Dental clinicians will be able to take more frequent images, obtain more diagnostic information, and even utilize real time imaging during procedures to ensure treatment protocols are achieving their objectives. During more invasive procedures, such as dental implant placement, dentists will be able to visualize key structures to avoid and reduce complications, improving the overall experience and recovery of the patient.
"I'm very excited about what the ClearView SCAN technology capabilities will bring to the dental community. I look forward to the patient benefits resulting from the creation of a higher standard of patient care, providing more diagnostic information without risks introduced by additional exposure to radiation," said Dr. Samuel B. Low, Chief Dental Officer of BIOLASE. "The earlier and more specifically we can identify underlying active disease with resulting inflammation with ultrasound and apply our minimally invasive laser treatments, the better the patient outcomes will be with dramatic reduction in risk, pain, and post-procedural complications."
"Clinically, this is the perfect addition to the BIOLASE portfolio, and we can further implement the Diagnose-Treat Paradigm. Historically, when new diagnostic technologies like the S-Ray ClearView SCAN system are deployed, more non-symptomatic diseases are identified much earlier in the disease progression," continued Dr. Low. "As an example, this can enable a breakthrough in dentistry as dentists begin to recognize the near-epidemic level of gum disease and the need for treatment before there is pain, loss of teeth, and oral systemic involvement. This is the perfect time to treat with minimally invasive laser technologies like Waterlase® all-tissue and Epic soft tissue lasers."
About BIOLASE, Inc.
BIOLASE, Inc. is a medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine and also markets, sells, and distributes dental imaging equipment, including three-dimensional CAD/CAM intra-oral scanners and digital dentistry software. BIOLASE's products advance the practice of dentistry and medicine for patients and healthcare professionals. BIOLASE's proprietary laser products incorporate approximately 220 patented and 90 patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. BIOLASE's innovative products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE's principal products are revolutionary dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. BIOLASE has sold over 35,500 laser systems to date in over 90 countries around the world. Laser products under development address BIOLASE's core dental market and other adjacent medical and consumer markets.
About S-Ray, Incorporated
S-Ray, a privately held Delaware corporation based in Redmond, WA, has pioneered a new and breakthrough proprietary technology and visualization modality for imaging the oral anatomy without the use of harmful radiation. The ClearView SCAN system uses advanced custom ultrasound probes designed specifically to overcome the challenges found in imaging the internal detail of soft tissues, in and around the oral cavity. The output of these advanced probes, synchronized with integrated optical imaging information is then rendered by modular software applications built upon a proprietary core platform of ultrasound image processing software. S-Ray has been issued its first patent, which provides coverage for the company's unique way of using ultrasound for dental applications. An additional 31 provisional patents have been filed covering other aspects of the system and related software.
For updates and information on Waterlase® iPlus™, Waterlase Express™, and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc and LinkedIn at www.linkedin.com/company/biolase.
BIOLASE® and Waterlase® are registered trademarks of BIOLASE, Inc.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained in this press release that refer to BIOLASE's estimated or anticipated future results or other non-historical facts are forward-looking statements, as are any statements in this press release concerning prospects related to BIOLASE's strategic initiatives and anticipated financial performance. Forward-looking statements can also be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect BIOLASE's current expectations regarding existing trends, our strategic initiatives, and speak only as of the date of this release. Actual results may differ materially from BIOLASE's current expectations depending upon a number of factors affecting BIOLASE's business. These factors include, among others, the ability to enter into a definitive agreement with S-Ray in accordance with the terms of the Memorandum of Understanding, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that may be detailed, from time-to-time, in BIOLASE's reports filed with the SEC. BIOLASE does not undertake any responsibility to revise or update any forward-looking statements contained herein.
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