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Light Sciences Announces Three Spin-Off Companies



10/19/2005 5:12:01 PM

SEATTLE, Jan. 7 /PRNewswire/ -- Light Sciences announced today the creation of three therapeutically focused, subsidiary companies developing light-activated treatments using Light Infusion Technology(TM) (Litx(TM)): (1) Light Sciences Oncology, Inc.; (2) Visient Therapeutics, Inc.; (3) Vascular Reconditioning, Inc.

"This structure will allow us to operate more efficiently, and permit venture firms to invest in the therapeutic area that they find most compelling," said Albert Luderer, Ph.D., President and CEO of Light Sciences. "The individual companies will have exclusive access to Light Sciences' intellectual property within their disease category and will individually seek venture funding. Each company will become fully independent businesses focused on exploiting Litx in markets with great medical need and huge business potential."

Litx is a next-generation photodynamic therapy platform in which the photoreactive drug, LS11 (talaporfin sodium), is activated by non-coherent light to treat abnormally proliferating tissues. Light Sciences Oncology and Visient Therapeutics are currently conducting multinational clinical trials of Litx under US IND in cancer and eye disease.

About Light Sciences Oncology, Inc.

Light Sciences Oncology (LSO) is testing Litx in a multi-center Phase 2 clinical trial treating patients with liver metastases arising from colorectal cancer. Metastatic colorectal cancer is a leading cause of cancer death in the United States, with over 60,000 deaths annually. LSO plans to begin clinical development of Litx in patients with hepatocellular carcinoma in 2005. Hepatocellular carcinoma is among the most malignant of cancers whether judged by disease development, prognosis or response to treatment and afflicts over 600,000 people per year worldwide.

About Visient Therapeutics, Inc.

Visient Therapeutics commenced clinical development in November 2004 and is presently recruiting patients into a Phase 1/2 clinical trial of LS11 in patients with the wet form of age-related macular degeneration (AMD). Positive preliminary results from an ongoing European investigator-sponsored clinical trial were presented at the American Academy of Ophthalmology Annual Meeting in October 2004. Age-related macular degeneration is an incurable disease and is the leading cause of blindness in the population aged over 50 years. The National Eye Institute predicts AMD will affect nearly 3 million Americans by 2020.

About Vascular Reconditioning, Inc.

Vascular Reconditioning (VRI) is developing a new coronary atherosclerosis treatment for interventional cardiologists to use against vulnerable plaque, the underlying cause of heart attacks, which kill more than 700,000 people in the United States every year. VRI is preparing to complete the extensive preclinical evaluation of the cardiovascular properties of Litx and to transition the development program into the clinic.

About Light Sciences

Light Sciences Corporation, founded in 1995, is a privately owned company developing Light Infusion Technology (Litx), a proprietary combination product comprising a photoreactive agent (LS11) activated by non-coherent light infusion devices. Litx represents an important step forward in the clinical application of light activated drugs in cancer, cardiovascular, eye and many other diseases. For additional information about Light Sciences, please visit http://www.lightsciences.com/ .

NOTE: Light Sciences(R), Litx(TM) and Light Infusion Technology(TM) are registered or proprietary marks of Light Sciences Corporation.

Contact: Karen Wetzel Vice President & CFO Light Sciences 425-392-8649 info@lightsci.com Kristie Kuhl Makovsky & Co. 212-508-9642 kkuhl@makovsky.com

Light Sciences Corporation

CONTACT: Karen Wetzel, Vice President & CFO of Light SciencesCorporation, +1-425-392-8649, or info@lightsci.com; or Kristie Kuhl ofMakovsky & Co., +1-212-508-9642, or kkuhl@makovsky.com, for Light SciencesCorporation


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