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In Brief: Lasersight

This article was originally published in The Gray Sheet

Executive Summary

Lasersight: Acquisition of two IBM patents relating to use of ultraviolet light for tissue ablation gives the firm "a highly strategic patent position" in the laser vision correction field. Summit and Visx both pay a 2% royalty on the patents on sales of their excimer vision correction lasers. Lasersight does not plan to modify the agreements, but says that any other companies seeking to enter the U.S. excimer vision correction market must obtain a license from Lasersight. The IBM patents, which expire in 2005, also cover "all non-ophthalmic" applications, the company says. A deal being negotiated with a major manufacturer for use of the technology in vascular surgery involves a $4 mil. upfront payment plus royalties, according to Lasersight. Lasersight is funding the patent purchase by issuing $16 mil. worth of convertible preferred stock to qualified investors...
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