During the first quarter of 2016, BIOLASE entered into a development and distribution agreement with IPG Photonics Corporation’s medical laser division, IPG Medical.
IPG Photonics Corporation (“IPG”) pioneered the development and commercialization of optical fiber-based lasers, creating a new generation of lasers with superior performance, reliability and lower costs. IPG grew to become one of the world’s largest laser companies, opening up a myriad of industrial, manufacturing and medical applications using their unique fiber and semiconductor lasers.
The development and distribution agreement between BIOLASE and IPG covers several projects in various stages of development, with the expectation that these projects will culminate in commercialized joint dental laser products, accessories, or integral system components. The parties will collaborate in the design and development of these new products and applications, with each party contributing their respective technological expertise, know-how, and development resources. BIOLASE will be responsible for U.S. and international registrations of all dental products resulting from the agreement, and will have exclusive worldwide commercial distribution rights for certain products over a multi-year initial term after completion of development.
“This partnership brings with it significant opportunity to advance our product designs and our supply chain, ultimately to provide a broader, deeper and more capable portfolio of laser-based solutions to dental practitioners globally.”
“We are extremely fortunate to partner with IPG, the world leader in fiber laser technology,”said Harold C. Flynn, Jr., President and Chief Executive Officer of BIOLASE. “This partnership brings with it significant opportunity to advance our product designs and our supply chain, ultimately to provide a broader, deeper and more capable portfolio of laser-based solutions to dental practitioners globally.”
“This will advance efforts to fulfill our purpose, enabling clinicians to repair and restore patient’s dental conditions, while alleviating pain, and reducing the anxiety commonly associated with invasive dental procedures,” added Flynn.
“This partnership with BIOLASE fits very well with IPG’s strategic development and desire to build our medical application business. The parties will combine their expertise and capabilities to improve existing and develop new dental laser applications in markets with significant unmet clinical needs. BIOLASE’s established dental channels deepen our distribution capabilities in this area and leverage our patented dental laser technology and platforms,” said Dr. Gregory Altshuler, President of IPG Medical.