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Raydiance and FDA Sign Cooperative Research and Development Agreement

7/16/2007 8:27:01 AM

PETALUMA, Calif., July 16 /PRNewswire/ -- Raydiance, Inc., developer of the world's first compact, cost-effective and fully software-controlled UltraShort Pulse (USP) laser system, today announced that it has entered into a two-year cooperative research and development agreement (CRADA) with the U.S. Food and Drug Administration (FDA).

Under the agreement, the FDA will utilize Raydiance's USP laser platform to evaluate the safety and effectiveness of high power laser-tissue interaction. The collaboration will involve the FDA's Division of Physics, Office of Science and Engineering Laboratories; Center for Devices and Radiological Health (CDRH), with hardware, software, applications and research support provided by Raydiance.

"We are delighted to be collaborating with the FDA on this project, which represents an important first step in the potential development of new commercial medical applications that harness the transformational properties of USP laser technology," said Barry Schuler, Chairman and CEO of Raydiance, Inc. "We look forward to working with the FDA research team as partners in this collaborative research."

The FDA's research on the Raydiance USP laser platform will initially focus on the use, safety and effectiveness of USP lasers in:

-- Ophthalmic applications, including tissue interactions that occur with ablation of corneal tissues associated with USP laser applications in refractive surgery and corneal repair; -- Light Therapy applications, including the kinetic processes of light therapy that may be employed in new treatments for important diseases including cancer, cardiovascular disease and diabetes; -- Gene Transfection applications, including the administration of gene therapy; and -- Dental applications, such as the removal of dental composite material without reducing tooth enamel, the optical inspection of teeth and the control of decay with non-surgical, non-drilling technologies.

First developed in the 1980s, USP lasers are extremely brief light pulses of unprecedented power that, unlike continuous wave lasers, instantly vaporize any material without heat or residual damage to surrounding areas at very precise scales, down to the micron level. Until now, most USP systems have been extremely expensive, very large and usable only by trained photonics experts. This has limited experimentation to highly-specialized university and government research labs and made commercialization of meaningful applications nearly impossible.

Today, Raydiance has liberated USP laser technology by combining advanced fiber and micro-optical components with state-of-the-art software that is upgraded automatically over the Internet to deliver a powerful, portable and easy-to-use USP system. Raydiance's business model is to be an enabling technology platform that allows developers and inventors to apply the transformational properties of USP technology to a range of groundbreaking applications quickly, easily and reliably.

About Raydiance, Inc.

Raydiance, Inc. is the developer of the world's first compact, cost- effective and fully software-controlled UltraShort Pulse (USP) laser system. This breakthrough technology platform harnesses the incredible power and precision of these lasers and makes them easily accessible for the development of revolutionary new applications across a wide range of industries. Under the guidance of former AOL Chairman and CEO Barry Schuler, today Raydiance is a fast-growth start-up that is rapidly validating its vision in the marketplace with early adopters across several application sectors.

Media Contact: Daniel Miles Delson Robinson Lerer & Montgomery 646-805-2036

Raydiance, Inc.

CONTACT: Daniel Miles Delson of Robinson Lerer & Montgomery,+1-646-805-2036, or, for Raydiance, Inc.

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