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Paradigm Medical Industries to Market Proprietary Electrophysiology Device for Early Detection of Glaucoma Company Signs Exclusive Distribution Agreement With Italy's LACE ELETTRONICA Jan 28, 2008 9:39:00 AM Copyright Business Wire 2008
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SALT LAKE CITY--(BUSINESS WIRE)--
Paradigm Medical Industries, Inc. (OTCBB: PMED.OB), a leader in glaucoma diagnostic and management devices, disclosed today it has signed an exclusive agreement with LACE Elettronica srl (Rome, Italy) to distribute the latter's proprietary GLAID electrophysiology instrument for the early detection of glaucoma. Terms were not disclosed.
LACE's GLAID is a revolutionary diagnostic device that utilizes Pattern Electroretinogram (PERG) to provide a visual stimulus that generates electrical responses of the retina to measure the physical condition of the retina's ganglion cells. Retinal ganglion cells collectively transmit visual information from the retina to several regions in the midbrain. There are about 1.2-1.5 million retinal ganglion cells in the human retina. The GLAID device was approved by the U.S. Food and Drug Administration (FDA) in 2007.
The GLAID device has undergone extensive testing and clinical studies in the U.S., Canada and Italy, including Bascom Palmer Eye Institute (Miami and Palm Beach, FL), University of California at San Diego's Hamilton Glaucoma Center, New York State College of Optometry, University of Laval (Quebec, Canada), and the University of Alabama. The current state of the GLAID technology was developed by Dr. Vittorio Porciatti, who is also involved in further GLAID-related research at Bascom Palmer Eye Institute.
"We believe the GLAID device is the most significant development in glaucoma detection in the last 20 years," said Paradigm Medical's Chief Executive Officer, Raymond Cannefax. "It represents a multimillion-dollar market opportunity for our Company."
"We are pleased to be working with Paradigm Medical in introducing and promoting GLAID," said Alessio Romani, chief executive of LACE. "The Company is well known and respected for its glaucoma diagnostic devices. The agreement is expected to accelerate acceptance of the GLAID technology in North America and Canada in 2008."
"The GLAID device is believed to be the fastest method of testing for retinal ganglion cell loss," Mr. Cannefax noted. "The GLAID not only measures dead and living ganglion cells, but also detects ailing ganglion cells. Due to the device's ability to detect dying ganglion cells, in most cases the viability of these cells can be fully restored with treatment."
Mr. Cannefax added that "GLAID provides a test that is fast and easy to understand and administer, easy to interpret by the clinician, and is non-invasive. It is reliable, operator independent, and is able to detect dysfunction of the ganglion cells in patients who are glaucoma suspects. GLAID can detect the onset of retinal defects significantly earlier than can be measured by the current standard of detection method of Visual Fields Analysis (Perimeters). We expect to begin filling orders during the first quarter of 2008."
Glaucoma, caused by deterioration of the optic nerve and related ganglion cells, is the second leading cause of permanent vision loss. It affects one in five people over age 50. Some 75% of glaucoma goes undiagnosed because of the lack of sophisticated instrumentation. There are more than 64 million cases of glaucoma worldwide, including more than three million in the U.S. About 120,000 people in this country are blind as a result of glaucoma. Nearly 16,000 surgeries are performed in the U.S. each year on patients with glaucoma, with the cost averaging about $3,200, depending on the severity of the glaucoma. In terms of Social Security benefits, loss of income tax revenues and health-care expenditures, the cost to the U.S. government related to glaucoma is estimated to be more than $1.5 billion annually.
Paradigm Medical Industries, Inc., is a leader in Ultrasound devices, and glaucoma detection and management products.
This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events and outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risks and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
Source: Paradigm Medical Industries, Inc.
---------------------------------------------- Paradigm Medical Industries Inc. Joy Roop 801-977-8970 www.paradigm-medical.com
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Paradigm Medical Industries Introduces Advances on the LD400 Full-Field Autoperimetry System Wednesday March 5, 4:42 pm ET
SALT LAKE CITY--(BUSINESS WIRE)--Paradigm Medical Industries, Inc. (OTCBB: PMED.OB - News), a leader in glaucoma diagnostic and management devices, is introducing new advance developments to the Paradigm-Dicon LD400 full-field autoperimetry system. The LD400 is used to measure patient visual fields to determine the severity of glaucoma and to aid in managing the disease. ADVERTISEMENT
“The Company has redesigned what we believe to be the industry’s superior autoperimeter,” said Paradigm Medical’s Chief Executive Officer, Raymond Cannefax. “Demand for our proprietary Paradigm-Dicon LD400 product continues to be extremely high in the U.S. and globally, and this updated product incorporates all the changes the medical profession has requested. We believe we are also broadening the market for autoperimeters.
“The kinetic fixation feature of the LD400 Autoperimeter is unique and exclusive to perimetry and offers full kinetic fixation for greater reliability, improved test results and patient comfort,” Mr. Cannefax added. “Kinetic fixation reduces patient fatigue and increases patient interest resulting in higher exam accuracy. The Paradigm-Dicon LD400 provides the highest standard of care from a full-field autoperimeter.”
New developments to the LD400 include redesigning the existing software, assuring device compatibility with a variety of printers and making the device fully networkable. All connections will be through USB ports. The patient data base will be similar to the Paradigm P60 Ultrasound BioMicroscope (UBM) and the printed examination reports will be grayscale, making them much easier to read.
Paradigm Medical Industries, Inc., is a leader in Ultrasound devices, and glaucoma detection and management products.
This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events and outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risk and uncertainty and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
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More news and lots of volume so far this morning.
Paradigm Medical Industries to Introduce Early Glaucoma Detection Device at ASCRS Conference Tuesday March 11, 9:22 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Paradigm Medical Industries, Inc. (OTCBB: PMED.OB - News), said today it will introduce the Glaid-PERG electrophysiology instrument for the early detection of glaucoma at the American Society for Cataract Refractive Surgeons (ASCRS) Conference in Chicago, IL, next month.
“All research and studies indicate the Glaid-PERG diagnostic device is the earliest means of detecting cellular losses attributed to glaucoma and other ocular ailments,” said Paradigm Medical’s Chief Executive Officer, Raymond Cannefax. The Company signed an exclusive agreement with LACE Elettronica srl (Rome, Italy) to distribute the Glaid-PERG instrument earlier this year.
After many years of clinical studies at major U.S. and European glaucoma centers, as well as at universities and research centers, the Glaid-PERG has proven to provide high test repeatability and a high level of accuracy. Ongoing research is indicating testing application for ocular ailments other than glaucoma.
“We are excited about the impact the new instrument will have—not only in our industry, but in medical benefits to those who will be diagnosed early as glaucoma suspects,” Mr. Cannefax added. “Early diagnosis will help reduce vision loss and help preserve sight. This is a logical progression in the early detection of glaucoma, the world’s major contributor to vision loss.”
Paradigm Medical will also introduce the prototype version of its redesigned LD400 Autoperimetry system at the ASCRS show. The LD400 is used to measure patient visual fields to determine the severity of glaucoma and to aid in managing the disease.
“The introduction of these two devices is further indication of our Company’s leading technology in eye care,” Mr. Cannefax noted. “It is all part of our ‘Continuous Improvement’ commitment.”
Paradigm Medical Industries, Inc., is a leader in Ultrasound devices, and glaucoma detection and management products.
This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events and outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risk and uncertainty and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
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