DENVILLE, N.J., Nov. 20, 2007 (PRIME NEWSWIRE) -- Lantis Laser Inc. (Pink Sheets:LLSR) (http://www.lantislaser.com) is reporting its corporate developments are on track for next year. Company CEO Stan Baron provided shareholders with a report card concerning progress with OCT developments including timing for full market rollout as well as plans for moving the stock from the Pink Sheets to other exchanges.
Mr. Baron commented, "Since the last round of funding was completed in the middle of May we have set about activating the plan to upgrade all the components of the Phase 1 system to enable high speed scanning that is necessary for the clinical use of our proprietary OCT (optical coherence tomography) Dental Imaging System(tm)." As a result, the company is providing the following updates:
OCT Development
Lantis' OCT System is now being readied for use in-the-mouth for real-time scanning of oral tissue for the early detection of oral diseases and microstructural deficiencies. This requires upgrading the OCT engine and components to scan at up to 10 times faster than the Phase 1 system. While OCT units have achieved this scanning speed before, Lantis has to start from a neutral position as all components are system specific and have to be developed for the particular application, and scanning teeth is not the same as scanning soft tissue!
Mr. Baron added, "I am pleased to report that the development is moving along very well under the management of Doug Hamilton. Lantis opened an R&D facility in Tampa, Florida and it is there that Mr. Hamilton is engaged in integrating the components that make up the system. Employing a combination of in-house and outside highly specialized consultants, the specific components have been designed and are being built out and tested for final assembly."
At this point the Company is targeting the beta system for clinical deployment in January 2008. It is anticipating that refinements thereafter will mainly be on software that drives the system. Lantis is targeting August 2008 for market introduction and thereafter the Company's plan is to participate at dental professional shows and exhibitions, nationally. Product shipments into the international market are projected to commence in 2009.
The FDA submission is being addressed with our experienced regulatory consultants and submission will likely take place in early in 2008. OCT has already been approved by the FDA for bio-medical applications.
Stock Registration
In September 2007, Lantis commenced an SB-2 registration for the common stock with the SEC. This was initiated as the Company prepares to take the necessary steps to move off the Pink Sheets to the higher exchanges.
Technology Pipeline
Management is constantly reviewing novel technology to assess the application in dentistry. Products based on such novel technologies will be contained within a separate wholly owned subsidiary to be funded from sources other than Lantis. There appear to be a number of areas in dentistry where advanced technology could be successfully applied.
Mr. Baron summarized, "As we look ahead to 2008 I feel highly confident that the development program is on track and we can look forward to a successful market introduction of the OCT Dental Imaging System(tm). Lantis expects the OCT Dental Imaging System(tm) to be embraced by the dental profession, as interest is high and we continuously receive enquiries and comments of support from dentists."
He concluded on a holiday note, "On behalf of Lantis and its employees, we wish you Happy Holidays and a Happy, Healthy and Prosperous New Year and we thank you for your continuing support."
About Lantis Laser
Lantis was formed to commercialize the application of novel technologies in the dental industry. The criteria for selected products includes competitive edge, exclusivity and large market potential. Lantis is currently in Phase 2 development and plans to launch the OCT Dental Imaging System(tm) in the third quarter of 2008. 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 1990s 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 our website at www.lantislaser.com
Forward-Looking Statements:
Certain statements in this press release, including statements regarding the anticipated development and expansion of Lantis' business, and the intent, belief or current expectations of Lantis, its directors or its officers, are forward-looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.