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Laser Platform Supports Family of Consumable Probes and Appliances Including Recently Patented MicroPulse® P3 Disposable

Mountain View, Calif., February 23, 2015 — IRIDEX Corporation (Nasdaq:IRIX) today announced that it will debut Cyclo G6, the Company’s first laser platform dedicated to the treatment of glaucoma, at this year’s annual congress of the American Glaucoma Society (AGS).  The AGS annual congress is being held February 26 – March 1, 2015, at San Diego’s Hotel del Coronado. Potentially 1,000 members from more than 17 countries are expected to attend the event. 

The Cyclo G6 system, which was recently cleared by the US Food and Drug Administration (FDA), is designed to treat patients diagnosed with a range of glaucoma disease states and features the Company’s proprietary MicroPulse tissue-sparing technology and a family of single use probes that connect to an intuitive, user-friendly laser console.  MicroPulse offers a repeatable, minimally invasive approach to slowing the progress of the disease and pushing off the need for more invasive surgical intervention.

In addition to the product unveiling, IRIDEX announced that a scientific poster presentation entitled, “MicroPulse Trans-scleral Cyclophotocoagulation (mTSCPC) for the Treatment of Glaucoma using the MicroPulse P3 Device,” will feature results from early clinical application of the new MicroPulse P3 disposable.  The poster will be presented on Friday, February 27, from 7-8 am PT and is authored by leading glaucoma specialists Drs. Nathan Radcliffe, Ike Ahmed, Jeffrey Kammer, Anup Khatana, Robert Noecker and Steven Vold.

"Glaucoma is a chronic disease with an increasing incidence rate that is in need of innovative interventions to preserve vision," said inventor of the MicroPulse P3 device, Professor Paul Chew, MBBS, MMed(Ophth), FRCSEd, FRCOphth, FAMS of the National University of Singapore.  “A MicroPulse based consumable appliance with a characteristic high safety profile that leaves future treatment options open, is clinically repeatable, and that does not require incisional surgery, is a very compelling alternative."

“Our proprietary Cyclo G6 platform allows IRIDEX to participate in both hardware and the faster growing procedural side of the glaucoma market, representing a new and more predictable recurring revenue stream,” stated Will Moore, IRIDEX President and CEO.  “The cost and logistics of administering glaucoma medications is a burden to both the patient and healthcare organizations; furthermore, patients using prescribed medications have a poor record of compliance.  Thus, a durable, cost-effective solution continues to be our focus as the world continues the trend toward 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 glaucoma today.

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. We maintain 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 a direct sales force 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 IRIDEX 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 markets in which the Company operates, trends in treatment and product usage, product plans and future product releases, regulatory approvals, usage and efficacy of Company products, future financial results and the Company’s strategic plans and objectives. 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.

 

IRIDEX Contact:                                           Investor Contact:

 

Jim Mackaness                                               Matt Clawson

CFO & COO                                                  Pure Communications, Inc.

650-940-4700                                                 949-370-8500

                                                                        matt@purecommunicationsinc.com

 

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