posted on October 06, 2015 10:39
Icare’s Tonometer for Monitoring Intra-Ocular Pressure Adds to Recurring Revenue Stream
Mountain View Calif., Sept. 8, 2015— IRIDEX Corporation (Nasdaq: IRIX) today announced that it has added a novel intra-ocular pressure (IOP) monitoring device called a tonometer to its suite of commercial products for the global glaucoma market. The new device comes to IRIDEX through a distribution agreement with Icare Finland Plc, a subsidiary of the Revenio Group Corporation, the creator of the tonometer.
The tonometer is the latest offering in IRIDEX’ growing number of glaucoma therapies that complement the new laser platform, Cyclo G6™ and its family of single-use disposables, as well as the IQ 532™ for a repeatable therapy called MicroPulse® Laser Trabeculoplasty (MLT). The tonometer includes a disposable device that measures IOP, an indicator of glaucoma.
In glaucoma, heightened IOP can lead to progressive damage of the delicate nerve fibers of the optic nerve. The Cyclo G6 and IQ 532 rely on different therapeutic mechanisms to create repeatable and minimally invasive approaches to slow the progress of the disease.
“Glaucoma is a chronic disease with a rapidly growing patient population,” said Christopher Majka, M.D., a cataract, cornea, and glaucoma specialist of The Eye Institute of Corpus Christi. “Our practice’s recent addition of both the Cyclo G6 laser system and the versatile IQ 532 laser provide a complete and state-of-the-art solution to address multiple stages of glaucoma.”
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 the disease today.
“We believe our laser therapies are effective and durable options for the expanding global glaucoma market,” said William Moore, President and CEO of IRIDEX. “The tonometer complements our Cyclo G6 laser, the first IRIDEX laser system that truly employs a razor, razorblade business model, and it’s another important addition to our growing catalog of disposable ophthalmology technologies. Our strategic goal is to continue to build a suite of effective products that adds to our consumable product line and provides us with recurrent revenues. Our entire glaucoma product offering represents the best in Value Base Medicine and we look forward to not only doctors understanding this but how it will assist single payer government healthcare systems deliver the best medicine at the lowest possible price.”
Moore added that the sales force has been trained in the use of the tonometer and has begun selling the device globally.
About MicroPulse Technology
MicroPulse is a tissue-sparing laser delivery therapy that works by electronically “chopping” the laser emission into trains of microsecond pulses. This enhances the physician’s ability to more precisely control the laser effects on target tissues, offering the potential for ocular treatment with less collateral effects than conventional laser treatments.
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 the tonometer diagnostic device and other 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 January 3, 2015, 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.
President and CEO
Pure Communications, Inc.