DENVILLE, N.J., Jan. 15, 2008 (PRIME NEWSWIRE) -- Lantis Laser Inc. (Pink Sheets:LLSR) (http://www.lantislaser.com), announced today that it has signed an Agreement to form a Joint Venture, based on the previously reported Memorandum of Understanding ("MOU"), with Laser Energetics, Inc. (Pink Sheets:LNGT). Each party will have equal ownership in the Company, to be called HyGeniLase, Inc. ("HyGeniLase"). The Company will market a novel dental cleaning laser based on Laser Energetics BrightStar(tm) Alexandrite laser technology. HyGeniLase will have the exclusive rights for dental application to Laser Energetics patented technology that enables the fabrication of lower cost conductively cooled lasers that have a significant advantage over the higher cost, water-cooled systems.
As a founding partner of HyGeniLase, Inc., Lantis Laser (LLSR) will own 50% of the Company. HyGeniLase, Inc. intends to trade as a separate public entity. Its market capitalization will be directly reflected in Lantis' stock price, as 50% owner of HyGeniLase.
Under the terms of the Agreement, HyGeniLase has ordered from Laser Energetics, an Alexandrite research laser, and a cost-effectiveness manufacturing study to optimize the compact design to meet the needs of the dental market. In addition, HyGeniLase has placed an order with Laser Energetics for a complete pre-production Alexandrite laser system for the dental application. This laser will be mounted in a mobile cart and will be based on Laser Energetics patented technology for conductively air-cooling lasers. This technology enables lasers to be built that are smaller, much more cost effective and reliable.
Dr. Craig Gimbel, VP Clinical Affairs at Lantis said, "The primary cause of periodontal disease is plaque and calculus (tartar) matrix that adheres to the teeth above and below the gumline. HyGeniLase new Alexandrite laser scaling technology will allow effortless removal of dental plaque and calculus (tartar) without touching the tooth and with no discomfort, pressure or vibration. Research has demonstrated that the Alexandrite laser is ideal for tooth scaling and would certainly be the modality of choice for most dental practitioners and their patients."
Dr. Gimbel added, "Alexandrite laser plaque and calculus removal will lead to greater acceptance of this procedure by fearful patients. Many people put off dental scaling for fear of the sometimes painful discomfort."
Stan Baron, President & CEO of Lantis Laser said, "In keeping with our objectives of selecting technology and products for commercializing in dentistry, the Alexandrite laser scaling system addresses a large market, gives HyGeniLase exclusivity to the low cost laser system ensuring that it will have a competitive edge. The total world market potential is large, based on the 200,000 dental offices in the U.S., Europe, Japan and the first world. Even a 5% penetration could result in revenue of hundreds of millions for HyGeniLase. This is a very exciting application that most people identify with and we expect that this teeth cleaning modality will have a major impact in dentistry."
About Lantis Laser Inc. Lantis was formed to commercialize the application of novel technologies in the dental industry. The criteria for selected products include competitive edge, exclusivity, and large market potential. The Company plans to launch its OCT Dental Imaging System(tm) in the third quarter of 2008 as its first product. Lantis has exclusive rights to the application of OCT technology in the field of dentistry under its license agreements with Lawrence Livermore National Laboratory and LightLab Imaging. OCT was invented in the early 1990's at the Massachusetts Institute of Technology and is currently being commercialized by Carl Zeiss Meditec, Inc. in ophthalmology and by LightLab Imaging for cardiovascular imaging. To find out more about Lantis Laser (Pink Sheets:LLSR), visit their website at www.lantislaser.com.
About Laser Energetics, Inc.: LEI has and continues to develop a comprehensive and strategic laser product line that addresses applications in Industry, Science, Medicine and the Military. The Company has had a primary focus on its Alexandrite laser technology. These tunable solid-state lasers are unique in that they can be conductively air cooled to compete favorably against water-cooled lasers in many applications. In addition, these lasers have one of the greatest wavelength tuning ranges with a bandwidth of over 250nm. The company is pursuing markets that are diverse yet can use the same laser with their compact user-friendly design. This laser technology provides a sustainable advantage over many other lasers because of their tune-ability, conductively air cooled operation, and their efficiency allowing these lasers to operate at preferred lower voltages such as 110 Volts as well as the military standard 28 VDC, as compared to other less efficient competitive lasers that are large and need 220 Volts to operate.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.