ORLANDO, Fla., Sept. 8, 2000 (PRIMEZONE) -- SurgiLight Inc. (OTCBB:SRGL) today announced that it has been recommended in an analyst report released by WallStreet Research, a prominent research boutique led by Alan Stone, Managing Director of Alan Stone & Company, LLC. Mr. Stone was formerly an analyst and assistant portfolio manager at Merrill Lynch Asset Management and a securities analyst at Prudential Insurance Company's Capital Markets Group.
WallStreet Research specializes in the microcap and smallcap investment arena, looking for emerging growth companies with strong management, unique or proprietary technology, significant market potential, financial strength, and outstanding long-term earnings growth possibilities. The report on SurgiLight is available, together with additional information about WallStreet Research, at www.WallSt-Research.com.
SurgiLight has recently received U.S. Food and Drug Administration (FDA) clearance to market the EX-308 excimer laser for the treatment of psoriasis. The EX-308 is only the second excimer laser to receive FDA clearance in the U.S. for the phototherapy treatment of psoriasis. The Company's EX-308 excimer laser has only one competitor. Photomedex (Nasdaq:PHMD) received FDA clearance for psoriasis treatment earlier this year.
In addition to its own international distributors, the Company also signed a joint venture agreement with MicraUS to assemble and market certain products designed by the Company in Europe and throughout the world. Micra Instrument, Ltd., is a wholly owned entity of MicraUSA, Utica, New York and gained ISO 9002 and EN 46002 certification for its quality manufacturing and engineering system in 1995 and it is fully accredited for European CE marking. Micra custom designs and manufactures instruments for companies like Bausch & Lomb (NYSE:BOL), Pharmacia & Upjohn (NYSE:PNU), Alcon and Codman (a Johnson and Johnson company), as well as international companies like Corneal (France) and Tomey (Japan). Micra also has an established sales network in over 50 countries throughout the world.
SurgiLight is also conducting clinical trials outside the U.S. with its second system, the IR-3000, and believes that this laser is the first infrared (IR) laser system designed for the treatment of presbyopia. The IR-3000 is fundamentally different from the thermal IR laser made by Sunrise (Nasdaq:SNRS) and the UV lasers made by VISX (Nasdaq:VISX), LaserSight (Nasdaq:LASE), Bausch and Lomb and Nidek (Japan). The presbyopia procedure has an estimate market of over $150 billion in the U.S. and $1.5 trillion worldwide.
SurgiLight is a world leader in the development of ultraviolet lasers and new infrared technologies, and a pioneer and inventor of scanning lasers and lasers for presbyopia reversal with four patents submitted in the U.S. The Company continues to receive royalty income from international eye laser and cosmetic centers.
This press release may contain forward-looking statements regarding future events and performance of the Company, which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company files with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this press release. The information presented in this release is not to be considered as an offer to sell, nor a solicitation of an offer to purchase, the Company's stock.