This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

IRIDEX Licenses The Exclusive Rights To Ophthalmology Products And Intellectual Property From Ocunetics, Inc.

Stocks in this article: IRIX

MOUNTAIN VIEW, Calif., Sept. 20, 2011 /PRNewswire/ -- IRIDEX Corporation (Nasdaq: IRIX) today announced that it has exclusively licensed the rights to all of the intellectual property of Ocunetics, Inc., a privately held company based in Alamo, California.  Ocunetics develops procedure-enabling medical devices that are intended to increase surgeons' efficiency, while improving case predictability for ophthalmic surgeries.  Further terms of the deal have not been disclosed.  

"This is a great example of technology and talent that fit our culture and match our strategic initiative of rapidly expanding our portfolio of consumable instruments across the ophthalmology spectrum," said Theodore A. Boutacoff, President and CEO of IRIDEX. "Ocunetics' co-founders Timothy Buckley and Kenneth Peartree will join IRIDEX as Vice President of Marketing, MIGS & Laser Systems and Vice President of Product Development, Consumables, respectively, and we are excited about their future contributions to IRIDEX."

Ocunetics' co-founder and cataract/glaucoma surgeon Dr. Steven Vold added, "IRIDEX will accelerate the development and commercialization of the transformative product line created by Ocunetics. These products have been designed to improve efficiencies in a wide range of ophthalmic surgeries."  

Mr. Boutacoff concluded, "The benefits to the organization resulting from the agreement and the people will be immediate and broad. The Ocunetics products are currently in development and are expected to begin commercialization under the IRIDEX brand within 18 months."

About Ocunetics, Inc.

Ocunetics, Inc. was founded in 2011 with the mission of bringing innovative procedure-enabling medical devices to market quickly.  Through close collaboration with leading physicians and physician-inventors, the Ocunetics' team focuses on medical devices that improve operating-room efficiency, healthcare economics, and improve patients' clinical outcomes.  

About IRIDEX

IRIDEX Corporation was founded in 1989 and is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems and delivery devices. We provide solutions for multiple specialties, including ophthalmology, dermatology and otolaryngology. We maintain a deep commitment to the success of our customers, with comprehensive technical, clinical, and service support programs. IRIDEX is dedicated to a standard of excellence, offering superior technology for superior results. IRIDEX products are sold in the United States through a direct sales force and internationally through a combination of a direct sales force and a network of approximately 100 independent distributors into 107 countries. For further information, visit the Company's website at http://www.iridex.com.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, relating to the Company's strategic growth initiatives, the integration of new employees and their contributions to the Company, the development and commercialization of new products and the benefits of the Company's transaction with Ocunetics.  These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors.  Please see a detailed description of these and other risks contained in our Annual Report on Form 10-K for the fiscal year ended January 1, 2011 and our Quarterly Reports on Form 10-Q for the quarters ended April 2, 2011 and July 2, 2011, each of which was filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and will not be updated.

SOURCE IRIDEX Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs