DENVILLE, N.J., June 3, 2008 (PRIME NEWSWIRE) -- Lantis Laser Inc. (Pink Sheets:LLSR) (http://www.lantislaser.com) announced today it has signed a Strategic Agreement with AXSUN Technologies, of Billerica, MA, whereby AXSUN will manufacture and supply the Integrated Optical Coherence Tomography (OCT) Engine for Lantis' OCT Dental Imaging System(tm), to be introduced to dentistry in the first quarter of 2009. The OCT Engine is at the core of Lantis' next generation, light based and non-radiation, diagnostic imaging system and enables the forming of an image from captured reflected light of the subject tissue.
Under the terms of the Agreement Lantis has exclusive worldwide rights to the OCT Engine for use in diagnostic imaging of teeth and soft tissue in human and animal dentistry. This announcement follows on the Press Release of March 17, 2008 when the Companies announced a Strategic Partnership.
Stan Baron, President and CEO of Lantis, said that, "The evidence linking oral health to general health is growing daily and the need for a major upgrade in dental diagnostics is clearly evident. X-ray, the backbone of imaging in the dental office for the last 120 years, cannot meet the needs of modern dentistry as it moves into the medical model of early detection and minimally invasive early treatment. AXSUN's Integrated Tunable OCT Engine enables Lantis to develop the OCT system for dentistry that provides accurate, high resolution, chairside imaging without radiation, and at a price that is affordable for most dentists."
Mr. Baron added, "This unique tunable laser was developed for OCT biomedical imaging applications as the result of a considerable development effort by AXSUN and Lightlab, a Lantis' licensor, and the leader in OCT cardiovascular imaging. Lantis is currently upgrading all the components of its OCT Dental Imaging System(tm) to accommodate the significant increase in scanning speed obtained by deploying the OCT Engine in its System. Based on this next-generation imaging modality, Lantis expects to achieve significant penetration of the total worldwide OCT dental market potential, estimated at 200,000 systems, or $5 billion at retail, with its highly advanced, cost effective OCT imaging system."
Dale Flanders, CEO of AXSUN, stated that "From AXSUN's perspective, Lantis' introduction of OCT technology into dentistry provides us with an excellent opportunity to apply our expertise in high-volume, cost-effective manufacturing to demanding specifications, for this very exciting worldwide market."
Mr. Baron concluded this announcement by saying that dentistry is waiting with great anticipation for the introduction of OCT and that Lantis has every expectation that OCT will have as great an impact in dentistry as it has had in ophthalmology (Zeiss Meditec). The next major medical application of OCT is expected to be in the field of cardiovascular imaging where Lightlab Imaging is considered to be the technology and applications leader.
About Lantis Laser
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. Lantis is currently in Phase 2 development, moving through beta systems, product development and application for FDA clearance and plans to launch the OCT Dental Imaging System(tm) in the first quarter of 2009. Lantis has exclusive rights to the application of OCT technology in the field of dentistry under its license Agreements with Lawrence Livermore National Laboratory (exclusive); LightLab Imaging (non-exclusive) and AXSUN (exclusive). To find out more about Lantis Laser (Pink Sheets:LLSR), visit www.lantislaser.com
About AXSUN Technologies
Axsun Technologies, Inc., established in 1998, develops and manufactures advanced components and photonic subsystems used in industrial process control, test and measurement applications, and throughout the world's communication networks. Axsun has applied its expertise in micro-optics and precision engineering to pioneer an entirely new class of fully functional, miniaturized spectroscopic instruments and devices that enable dramatic improvements in quality, productivity, and performance across a variety of industries - from pharmaceutical manufacturing and chemical/petrochemical processing, to medical devices and diagnostics, forensics, and scientific discovery. For more information, visit www.axsun.com.
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.