IRIDEX Introduces New Generation Laser System for Hair Removal

Business Wire, March 22, 1999

MOUNTAIN VIEW, Calif.--(BW HealthWire)--March 22, 1999--IRIDEX Corp. (Nasdaq/NMS:IRIX), introduced the new IRIDERM 810 Diode Laser System at the American Academy of Dermatology Meeting being held in New Orleans, March 19-24, 1999.

The new laser system is currently being promoted for export only and is expected to be available for shipment during the fourth quarter. The IRIDERM 810 will offer dermatologists, plastic surgeons and cosmetic surgeons a portable, reliable, and affordable laser system to expand their practice as well as provide patients with a quick and technologically advanced treatment for hair removal.

It is the first semiconductor diode laser based system to deliver 600 Watts of laser power out of a lightweight fiber optic handpiece to the target tissue.

"As the laser hair removal market has evolved over the last several years, the treatment parameters appropriate for clinical efficacy have become more well defined," commented Roy C. Grekin, MD, clinical professor of Dermatology, University of California, San Francisco Medical Center.

"Physicians are now searching for better devices offering more reliability, lower operating costs, more convenient delivery systems and simplified controls. The IRIDERM 810 appears to satisfy these desires and the faster, less expensive treatments it allows will, I believe, increase the number of patients desiring laser hair removal."

"The IRIDERM 810 laser system expands the line of IRIDEX dermatology lasers and allows the Company to compete for market share in the $150 million/year laser hair removal market," commented Bradley J. Renton, vice president of Dermatology.

"The new laser provides the physician with an economic advantage because it allows them to perform procedures quickly and without fatigue. With an available 600 Watts of delivered power, the IRIDERM 810 Diode Laser System is approximately 10 times more powerful than any previous fiber optically delivered diode laser device for medical applications.

"This high power level allows clinically appropriate treatment levels to be achieved with pulses of 10 to 30 msec duration and spot sizes up to 10 mm diameter making the IRIDERM 810 comparable to the most effective competitive systems which currently lead the market. However, our device features state-of-the-art diode laser technology allowing it to be smaller, more reliable, and easier to use.

"This, when combined with the system's fast 4 Hz delivery rate and the novel lightweight fiber optic handpiece, we believe will allow the laser to quickly gain market acceptance."

This 600 Watt advanced, solid-state laser is based upon 810 nm semiconductor diode lasers and has no moving parts resulting in a reliable product with a low operating cost. Weighing only 20 pounds (9.1 kg) and measuring 12" X 6" X 17" (30 cm X 15 cm X 44 cm), this product is compact and easily portable between treatment rooms or offices.

Laser energy is delivered from the console to the patient via fiber optic cables and a lightweight handpiece, which weighs only six ounces (170 grams).

"We are eager to compete in this new market for IRIDEX," commented Theodore A. Boutacoff, president and CEO, "with a product which we believe will become recognized and appreciated by our customers to be truly superior.

"We expect that the IRIDERM 810 will be in full production during the fourth quarter of this year and are expanding both our direct dermatology sales force in the U.S. and new specialized distributors internationally in order to bring this product to market quickly."

IRIDEX Corp. is the leading worldwide provider of semiconductor-based laser systems used to treat eye disease for ophthalmology and skin lesions for dermatology. IRIDEX products are sold in the United States predominantly through a direct sales force and internationally through 65 independent distributors into 74 countries.

The company markets its products using three brand names: IRIS Medical to the ophthalmic market, IRIDERM to the dermatological market, and Light Solutions to the research market. The IRIDEX Corp. web site is at www.iridex.com.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Actual results could differ materially from those projected in the forward-looking statements due to risks associated with Dependence on Development of New Products and New Applications, Continued Market Acceptance of the company's Products, Risks of Manufacturing and Dependence on Key Manufacturers and Suppliers, Dependence on International Sales, Competition, Quarterly Fluctuations in Operating Results, Dependence on Collaborative Relationships, Patents and Proprietary Rights, as well as risks associated with Government Regulation. For additional risks and uncertainties, the company incorporates by reference the risks set forth in the company's 1997 Form 10-K which was filed on March 31, 1998, and Form 10-Q which was filed on November 16, 1998, and such other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.