Leading dental laser maker BIOLASE Technology (BLTI) has secured a new patent from the U.S. Patent and Trademark Office, which expands the application of its laser technologies for eye surgeries to treat vision conditions such as presbyopia (loss of near vision).
Presbyopia is an age-related eye condition characterized by the loss of the ability of the lens to focus, making it difficult to see objects from close range. The condition affects more than 100 million Americans and over 2 billion people globally.
The new patent, dubbed “Methods for Treating Eye Conditions”, covers the methods for treating eye conditions including presbyopia. This represents BIOLASE’s thirteenth patent issued in the ophthalmic patent family. The company currently has 20 additional patents pending in the four families in the ophthalmology field.
Separately, BIOLASE noted that it has set up a new organization, OCULASE, Inc. The new entity, a fully-owned subsidiary of the company, will own and develop its ophthalmic assets and technologies. OCULASE will focus on eye diseases and conditions leveraging BIOLASE’s technology and expertise in the ocular field.
BIOLASE develops and markets lasers and related products for applications in medicine and dentistry. Its key products are dental laser systems that perform a broad spectrum of dental procedures, including cosmetic and complex surgical applications. Dental products distributor Henry Schein (HSIC) is one of its key distributors.
The company’s revenues for second-quarter 2011 more than doubled year over year to roughly $12 million, mostly attributable to the healthy demand for its WaterLase iPlus all-tissue dental laser, which contributed roughly 63% of total sales for the quarter. The device was recently approved for marketing in Canada. WaterLase iPlus is shaping up to be a major future growth driver.
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