VisiJet Acquires Worldwide Distribution Rights of Gebauer Products and Receives $9.5 Million Financing Commitment
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Health/Medical Writers / Business Editors IRVINE, Calif.--(BUSINESS WIRE)--VJET-- VisiJet, Inc. (OTCBB:VJET), developers of innovative technologies for the ophthalmic surgical market, announced it has acquired the exclusive worldwide distribution, sales and marketing rights for the LASIK and Epi-Lasik products from Gebauer Medizintechnik GmbH of Neuhausen, Germany. Starboard Capital Markets LLC, a registered broker dealer based in Philadelphia, assisted the company in the financing of the acquisition. In addition, SBI Brightline II, LLC an affiliate of SBI USA, LLC, and Trilogy Investment have increased their original financing commitment of $4.5 million by $5 million to provide $9.5 million in capital for product development and working capital. The funding is subject to certain contingencies, including the effectiveness of a Registration Statement with the Securities and Exchange Commission. "The acquisition of the distribution rights for the products -- the LasiTome and the Epi-Tome -- complements our ophthalmic surgical products under development and provides immediate revenue opportunities for the Company," said Randy Bailey, CEO and President of VisiJet. "Gebauer, a known international innovator, has improved upon existing technologies and developed these ground-breaking microkeratomes with unique cutting and separating methods that should eliminate many postoperative problems. With the Epi-Tome, LasiTome, and HydroKeratome approved and launched, VisiJet will be the only company able to offer the surgeon the option of preparing the cornea for both surface ablation or stroma ablation." The Epi-Tome is currently CE marked (EU equivalent to FDA approval) and already being sold in Europe and other countries accepting that designation. The Company anticipates filing for FDA approval within the next few weeks. The Epi-Tome and LasiTome join a growing refractive surgery market estimated in excess of $4 billion annually worldwide. Dr. Ronald Krueger, MD, MS, Medical Director of Refractive Surgery, Cole Eye Institute, The Cleveland Clinic Foundation, anticipates superior results with the Gebauer Epi-Tome as it maintains the structure of the cornea. "The blade of the Epi-Tome is designed to 'ride' on the Bowman's plane, directing the cutting force upwards, away from the stroma," explained Dr. Krueger. "The resulting flap is smooth, intact and easily repositioned on the eye. Also the blade is steel, not plastic, and its sharper edge produces a clean more precise and accurate separation of tissue." Dr. Krueger believes because the Epi-Tome keeps the stroma intact and the technique does not require alcohol, problems such as postoperative pain, and dry eye will be eliminated or greatly reduced. "The Epi-Tome is an advance in LASIK with important advantages for both patient and surgeon," stated Dr. Krueger. "I believe it will have a prominent place in refractive surgery." ABOUT VISIJET, INC. VisiJet, Inc. is a medical device company based in Irvine, California focused on the development and marketing of innovative ophthalmic applications that will result in faster, safer and more efficacious procedures in two of the largest surgical markets in the world: refractive and cataract surgeries. VisiJet's lead products, the HydroKeratome(R) and Pulsatome(R), utilize the Company's proprietary and patented waterjet technology that uses a high-pressure micro beam of water the diameter of a human hair to cut ocular tissue. The FDA-approved HydroKeratome(R), uses the waterjet technology to cut the cornea as required in LASIK surgery. The Pulsatome(R), currently under development, is a device that uses waterjet technology to remove cataracts - the most performed surgical procedure in the world. VisiJet, Inc. is located at 192 Technology Drive, Suite Q, Irvine, CA. PH: 949-450-1660, FX: 949-453-9652, Investor Relations: 949-450-1660 ext. 26. Website: www.visijet.com FORWARD-LOOKING STATEMENTS Except for historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the Securities Exchange Act that involve risks and uncertainties that could cause actual results to differ materially from those expressed. These matters include, but are not limited to, the anticipated financing information about the Company's technologies and products, financial situations, or business opportunities. This news release shall not constitute an offer to sell or the solicitation of an offer to sell any of these securities. KEYWORD: INTERNATIONAL EUROPE CALIFORNIA INDUSTRY KEYWORD: MEDICAL MEDICAL MEDICAL DEVICES PRODUCT MARKETING AGREEMENTS SOURCE: VisiJet, Inc. CONTACT INFORMATION: VisiJet, Inc., Irvine Investor Relations, 949-450-1660 Ext. 28 or Mitchell & Company Diane Mitchell (Media & Public Relations), 949-474-7020 Mitchellcompany@earthlink.net
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Health/Medical Writers / Business Editors IRVINE, Calif.--(BUSINESS WIRE)--VJET-- VisiJet Inc. (OTCBB:VJET), developers of innovative technologies for the ophthalmic surgical market, announced today that it has received FDA approval for its EpiLift System, a next-generation, ophthalmic surgical device designed for separating corneal tissue. The EpiLift System is the cornerstone of a new improvement in LASIK surgery called Epi-LASIK. Epi-LASIK combines the best of today's most popular refractive techniques - LASIK and PRK. It produces virtually instant visual results like LASIK but with the stable long-term visual outcomes of PRK. "The EpiLift System provides a revolutionary new method to perform refractive surgery," said Randy Bailey, president and CEO of VisiJet. "The EpiLift System will make Epi-LASIK a mainstay procedure for the correction of myopia, hyperopia and astigmatism. It provides the safety, control and better visual outcomes vital to both physician and consumer acceptance." During the Epi-LASIK procedure the top layer of the cornea (the epithelium) is separated into an intact sheet of viable tissue. This tissue, the Epi sheet, is temporarily lifted away from the cornea so that a laser can be applied to reshape the corneal bed. Once this is completed, the epithelial sheet is returned to its natural position on the eye. A key attribute the EpiLift System provides to this new surgical procedure is precision. It cleanly and safely separates the epithelium from the next layer of corneal tissue, Bowman's membrane. In traditional LASIK, a microkeratome creates a permanent flap onto the center layer of the cornea (stromal layer). By eliminating the cutting of stromal flaps, the EpiLift System eliminates the primary cause of LASIK complications. VisiJet Inc. received the CE Mark (European approval) for the EpiLift System earlier this year. Since that time, there has been a growing interest in the technology in Europe and key Asian markets. Now, with FDA approval, the company expects domestic sales to be significant due to the strong interest shown in the technology by leading U.S. refractive surgeons. "The EpiLift System provides us with another entry into the $4 billion worldwide refractive surgery market," said Bailey. He noted that the new EpiLift technology joins the company's proprietary waterjet technologies which are in final development stages. ABOUT VISIJET INC. VisiJet Inc. is a medical device company based in Irvine focused on the development and marketing of innovative ophthalmic applications that result in faster, safer and more efficacious procedures in two of the largest surgical markets in the world: refractive and cataract surgeries. VisiJet's lead products, the HydroKeratome(R) and Pulsatome(R), utilize the company's proprietary and patented waterjet technology that uses a high-pressure micro beam of water the diameter of a human hair to cut ocular tissue. The FDA-approved HydroKeratome(R) uses the waterjet technology to cut the cornea as required in LASIK surgery. The Pulsatome(R), currently under development, is a device that uses waterjet technology to remove cataracts - the most performed surgical procedure in the world. In addition, the company recently acquired the exclusive worldwide distribution, sales and marketing rights for the LASIK and Epi-LASIK products from Gebauer Medizintechnik GmbH of Neuhausen, Germany. These products, the LasiTome and the EpiLift, improve upon existing technologies with unique separating methods that can eliminate many postoperative problems. VisiJet Inc. is located at 192 Technology Drive, Suite Q, Irvine, CA. Phone: 949-450-1660, Fax: 949-453-9652, Investor Relations: 949-450-1660 ext. 28, Web site: www.visijet.com. FORWARD-LOOKING STATEMENTS Except for historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the Securities Exchange Act that involve risks and uncertainties that could cause actual results to differ materially from those expressed. These matters include, but are not limited to, the anticipated financing information about the company's technologies and products, financial situations, or business opportunities. This news release shall not constitute an offer to sell or the solicitation of an offer to sell any of these securities. KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MEDICAL MEDICAL DEVICES GOVERNMENT PRODUCT SOURCE: VisiJet Inc. CONTACT INFORMATION: VisiJet Inc., Irvine Investor Relations, 949-450-1660 ext. 28 or Mitchell & Company Diane Mitchell (Media), 949-474-7020 Mitchellcompany@earthlink.net
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