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New iClip™ Closure Device Focused on Glaucoma with Broadening Applications in Other Specialties of Ophthalmology



Mountain View, Calif., March 30, 2015 —IRIDEX Corporation (Nasdaq:IRIX) today announced that the United States Patent and Trademark Office granted the Company a patent for a new proprietary disposable device intended to replace certain suturing techniques in eye surgery. The iClip Closure Device will initially be focused on trabeculectomies and is intended to expand to a broader range of ophthalmic surgical procedures in the future.



A trabeculectomy is a common surgical procedure used in the treatment of glaucoma to drain fluid and relieve intraocular pressure. During the procedure, a surgeon removes a piece of tissue in the drainage angle of the eye allowing fluid to bypass the clogged drainage channels. It is estimated that approximately 400,000 trabeculectomies are performed each year worldwide.



“Eye surgery is a very delicate and precise process,” stated co-inventor Steven Vold, MD, cataract and glaucoma specialist. “The new iClip technology is intended to drive efficiencies in multiple procedures with an initial focus in glaucoma.”



“The iClip is a product that has a broad array of potential applications for eye surgery and is consistent with an integral part of our strategic plan: developing products that provide us new, recurring and therefore, predictable revenue streams,” stated Will Moore, IRIDEX President and CEO. “Furthermore, we believe ongoing investment in defensible intellectual property creates the opportunity for adding significant shareholder value.”



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 potential applications for the iClip and other Company products, changes in shareholder value, the protectability and results of any future challenges to the Company’s intellectual property rights, 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:


Jim Mackanes

CFO & COO

650-940-4700



Investor Contact:


Matt Clawson

Pure Communications, Inc.

949-370-8500

matt@purecommunicationsinc.com

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