Raydiance and Food and Drug Administration Sign Cooperative Research and Development Agreement

FDA to Utilize Raydiance Technology to Determine Safety and Effectiveness

of UltraShort Pulse Lasers in New Medical Applications

Jul 16, 2007, 01:00 ET from Raydiance, Inc.

    PETALUMA, Calif., July 16 /PRNewswire/ -- Raydiance, Inc., developer of
 the world's first compact, cost-effective and fully software-controlled
 UltraShort Pulse (USP) laser system, today announced that it has entered
 into a two-year cooperative research and development agreement (CRADA) with
 the U.S. Food and Drug Administration (FDA).
     Under the agreement, the FDA will utilize Raydiance's USP laser
 platform to evaluate the safety and effectiveness of high power
 laser-tissue interaction. The collaboration will involve the FDA's Division
 of Physics, Office of Science and Engineering Laboratories; Center for
 Devices and Radiological Health (CDRH), with hardware, software,
 applications and research support provided by Raydiance.
     "We are delighted to be collaborating with the FDA on this project,
 which represents an important first step in the potential development of
 new commercial medical applications that harness the transformational
 properties of USP laser technology," said Barry Schuler, Chairman and CEO
 of Raydiance, Inc. "We look forward to working with the FDA research team
 as partners in this collaborative research."
     The FDA's research on the Raydiance USP laser platform will initially
 focus on the use, safety and effectiveness of USP lasers in:
     --  Ophthalmic applications, including tissue interactions that occur with
         ablation of corneal tissues associated with USP laser applications in
         refractive surgery and corneal repair;
     --  Light Therapy applications, including the kinetic processes of light
         therapy that may be employed in new treatments for important diseases
         including cancer, cardiovascular disease and diabetes;
     --  Gene Transfection applications, including the administration of gene
         therapy;  and
     --  Dental applications, such as the removal of dental composite material
         without reducing tooth enamel, the optical inspection of teeth and the
         control of decay with non-surgical, non-drilling technologies.
     First developed in the 1980s, USP lasers are extremely brief light
 pulses of unprecedented power that, unlike continuous wave lasers,
 instantly vaporize any material without heat or residual damage to
 surrounding areas at very precise scales, down to the micron level. Until
 now, most USP systems have been extremely expensive, very large and usable
 only by trained photonics experts. This has limited experimentation to
 highly-specialized university and government research labs and made
 commercialization of meaningful applications nearly impossible.
     Today, Raydiance has liberated USP laser technology by combining
 advanced fiber and micro-optical components with state-of-the-art software
 that is upgraded automatically over the Internet to deliver a powerful,
 portable and easy-to-use USP system. Raydiance's business model is to be an
 enabling technology platform that allows developers and inventors to apply
 the transformational properties of USP technology to a range of
 groundbreaking applications quickly, easily and reliably.
     About Raydiance, Inc.
     Raydiance, Inc. is the developer of the world's first compact, cost-
 effective and fully software-controlled UltraShort Pulse (USP) laser
 system. This breakthrough technology platform harnesses the incredible
 power and precision of these lasers and makes them easily accessible for
 the development of revolutionary new applications across a wide range of
 industries. Under the guidance of former AOL Chairman and CEO Barry
 Schuler, today Raydiance is a fast-growth start-up that is rapidly
 validating its vision in the marketplace with early adopters across several
 application sectors.
     Media Contact:
     Daniel Miles Delson
     Robinson Lerer & Montgomery

SOURCE Raydiance, Inc.