IRVINE, CA--(Marketwired - April 17, 2013) - BIOLASE, Inc. (NASDAQ: BIOL), the world’s leading dental laser manufacturer and distributor, announced today that it recently entered into a royalty agreement with Lambda S.p.A. (Lambda) which resulted in a payment from Lambda for past royalties and established a royalty rate for Lambda to pay on future sales.
Federico Pignatelli, Chairman and CEO, said, “I am very pleased that we have come to an agreement with Lambda, a high-end European laser manufacturer, whereby they have agreed to pay royalties on their past and future sales that utilize technology from our substantial and comprehensive intellectual property portfolio.”
The royalties from Lambda relate to intellectual property that BIOLASE owns in connection with Er:YAG (erbium-doped yttrium aluminum garnet) lasers and does not involve its more advanced and revolutionary WaterLase® technology, which uses Er,Cr:YSGG (erbium, chromium doped yttrium scandium gallium garnet) lasers, or its delivery systems, which include its proprietary handpieces and consumables.
“As I have said before, BIOLASE is firmly committed to asserting its rights on its extensive U.S. and international patent portfolio,” Pignatelli continued. “We have invested heavily in our intellectual property for laser dentistry, as well as other medical fields, and currently have over 340 U.S. and international patents and patents pending. We will not tolerate what we believe to be any infringement of our patents, and we will continue to aggressively protect our rights.”
BIOLASE currently has royalty agreements related to the sales of Er:YAG lasers manufactured by Fotona d.d., which are sold in the U.S. by Technology4Medicine, LLC, and Hoya Photonics, Inc., which sold its dental business to Photonic Service Group in June 2012.
About BIOLASE, Inc.
BIOLASE, Inc. is a biomedical company that develops, manufactures and markets dental lasers and also distributes and markets dental imaging equipment; products that are focused on technologies that advance the practice of dentistry and medicine. The Company’s laser products incorporate over 340 patented and patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. Its imaging products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE’s principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. BIOLASE has sold more than 22,000 lasers. Other products under development address ophthalmology and other medical and consumer markets.
WaterLase® is a trademark of BIOLASE, Inc.
For updates and information on WaterLase and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolaseinc, Twitter at www.twitter.com/biolaseinc, Pinterest at www.pinterest.com/biolase, Linkedin at www.linkedin.com/company/biolase, Instagram at www.instagram.com/biolaseinc and YouTube at www.youtube.com/biolasevideos.
For further information, please contact:
Michael Porter
Porter, LeVay & Rose, Inc.
212-564-4700
