ILSE Intralase Corp (MM)

IntraLase Corp. (Nasdaq:ILSE) today will announce at the American Academy of Ophthalmology Annual Meeting (Oct. 14-18) that a half-million blade-free LASIK vision correction procedures, only possible with the IntraLase FS (femtosecond) laser, have been sold. This milestone represents an approximate 75 percent increase in LASIK procedures with the IntraLase Method(TM) during the past year and marks a shift toward blade-free LASIK as the procedure of choice for the correction of myopia (nearsightedness), hyperopia (farsightedness) and astigmatism. Available commercially in the U.S. since 2001, the IntraLase FS laser attained widespread distribution in 2004 and by the second quarter of 2005 was used in approximately 18 percent, or nearly one in every five, LASIK procedures in the United States. With its excellent record of safety, patient comfort and superior visual outcomes, the IntraLase Method is among the fastest-growing refractive surgical techniques. Conversely, traditional LASIK procedures using a microkeratome (metal blade) are declining, according to research from Market Scope's Q2 2005 Refractive Quarterly Update. Rapid growth of the all-laser LASIK procedure is expected to increase further as more doctors and patients discover the benefits of the IntraLase laser over the bladed microkeratome, and as more teaching institutions switch to IntraLase in training future ophthalmologists. The top two ophthalmic teaching institutions, University of Miami's Bascom Palmer Eye Institute and Johns Hopkins' Wilmer Eye Institute, along with 14 other leading teaching centers have already adopted IntraLase as their technology of choice. "The growing body of clinical evidence is convincing: LASIK with the IntraLase Method delivers unparalleled safety, precision and predictability, which for patients means superior visual outcomes, faster visual recovery and improved quality of vision compared to procedures using a microkeratome," said Richard L. Lindstrom, M.D. of Minnesota Eye Consultants in Minneapolis, who recently acquired the IntraLase technology. "With IntraLase, more of my patients achieve 20/20 vision or better almost immediately after the procedure, which is fast - about 30 seconds per eye - comfortable and requires little or no recovery time." How LASIK with IntraLase Method Works The IntraLase FS laser is used in the important first step of the two-step LASIK procedure, the creation of a corneal flap. The second step involves reshaping the cornea using an excimer laser. Historically, the first step was performed using a microkeratome, a hand-held device with an oscillating metal blade. While LASIK has proven to be a successful and relatively safe procedure, the majority of complications - and patient concerns - have been associated with use of the microkeratome. The IntraLase laser eliminates the use of a microkeratome and its blade. With the IntraLase Method, the surgeon precisely controls the first step of LASIK using a computer-controlled laser that delivers rapid pulses of light, a quadrillionth of a second each, to a pre-programmed depth and position within the cornea. Each pulse forms a microscopic bubble. As the IntraLase laser moves back and forth across the eye, the bubbles are connected to form a corneal flap. Just prior to vision correction, the doctor gently lifts the flap to reveal a smooth corneal bed. Physician-programmed laser specifications include flap diameter, depth, hinge location and width, and side-cut architecture - factors which can be varied to meet the individual patient's needs. The IntraLase laser also creates a distinctive beveled edge flap, which allows for precise repositioning, alignment and seating after LASIK is completed. The IntraLase laser prepares an optimal corneal surface below the flap, and in clinical studies this resulted in superior visual outcomes, greater patient comfort and fewer complications. These benefits are seen when the IntraLase laser is used during either standard LASIK or custom LASIK procedures. About IntraLase Corp. IntraLase designs, develops, and manufactures an ultra-fast laser, related software, and disposable devices used to create a corneal flap, the first step in LASIK surgery for the correction of vision. The company's products improve the safety, precision, and visual results of LASIK procedures by providing a computer-controlled laser solution in place of the hand-held mechanical, metal-bladed microkeratome traditionally used to create corneal flaps. IntraLase lasers are also used in surgical approaches to the treatment of diseased corneas. The company's lasers and disposable per procedure patient interfaces are presently marketed throughout the United States and 21 other countries. IntraLase has headquarters and manufactures its products in Irvine. For additional information, visit the company's Web site: www.intralase.com. Forward-Looking Statements Statements contained in this press release that are not historical information are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Those risks and uncertainties include, but are not limited to: the degree of continued acceptance of LASIK surgery; potential complications revealed by long-term follow up; the extent of adoption of our product offering by LASIK surgeons; general economic conditions; changes in federal tax laws governing the ability of potential LASIK patients to use pre-tax dollars to pay for LASIK surgery; the scope of government regulation applicable to our products; patients' willingness to pay for LASIK surgery; our ability to compete against our competitors; the effectiveness of our measures to ensure full payment of procedure fees; the occurrence and outcome of product liability suits against us; our ability to adequately protect our intellectual property; whether we become subject to claims of infringement or misappropriation of the intellectual property rights of others; the continued availability of supplies from single-source suppliers and manufacturers of our key laser components; the ability of our managers, operations, and facilities to manage our growth; the success of our expansion into markets outside the United States; whether we lose any of our key executives or fail to attract qualified personnel; or if our new products or applications fail to become commercially viable. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the company's quarterly report on form 10-Q for the period ending June 30, 2005, as filed with the Securities and Exchange Commission on Aug. 10, 2005. These forward-looking statements are made only as of the date of this press release, and the company assumes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise. EDITOR'S NOTE: Media are invited to attend the IntraLase's AAO Press Breakfast on Friday, Oct. 14 at 7 a.m. at the Hyatt McCormick Place. Hear first-hand why a leading surgeon is among the growing ranks converting their practices to IntraLase. Contact The Goolsby Group at 949-595-4320 to RSVP.