Being a big fan of startup companies or companies revamping their business, I found this little gem and have fallen in love with it. Being significantly undervalued (around $8, and warrants at an even better deal) this company was too good to pass up. Here's a sample of the kind of developments to expect over the next year or two:
( BW)(MEDJET)(MDJT) Medjet Announces Completion of HydroBrush
Prototype
Business Editors and Medical/Health Writers
EDISON, N.J.--(BUSINESS WIRE)--Feb. 6, 1997--Medjet, Inc.
(NASDAQ: MDJT common; MDJTW warrants), a leading developer of
surgical cutting devices based on high-velocity water jets, today
announced the completion of the prototype for its HydroBrush(TM)
Keratome for removing (debriding) epithelium from the cornea over a
defined area.
The HydroBrush(TM) is a small hand tool with a transparent
applanating surface that is placed against the area to be debrided.
A circular jet of water operated at a pressure of about 4,000 psi
acts as the brush. The surgeon moves the tool across the cornea to
produce a perfect circular debridement, typically 7-8 millimeters in
diameter, in approximately two seconds.
Removal of the epithelium is the first step in excimer laser
refractive surgery, known as PRK. It is also used for treating
various corneal problems associated with disease, infection,
dystrophy and physical damage to the epithelium.
Eugene I. Gordon, president and chief executive officer,
commented, "Until now, removal of the epithelium has been
accomplished by scraping the surface of the cornea with a metal
blade, a relatively slow procedure that often damages the underlying
Bowman's layer and generally leaves debris on the surface. There is
a growing belief in the ophthalmic community that the several
minutes required to perform the epithelial removal and the
associated uncontrolled hydration of the cornea contribute in part
to the inaccuracy of PRK in regularly achieving the intended
refractive correction. If this proves to be the case, then the new
epithelial removal device, because of its speed, could be extremely
important.
"The HydroBrush(TM) epithelial debridement, in contract, is done
quickly, produces an immaculate surface totally free of debris and,
based on Medjet's studies to date on cadaver eyes, causes no damage
to the Bowman's layer. Based on the company's trials to date using
live rabbits, the debrided epithelium heals at least as well as with
a knife blade removal and typically more quickly."
The prototype of the company's other early product, the
HydroBlade(TM) Keratome for therapeutic lamellar keratoplasty, is
expected to be available for clinical testing by the end of the
first quarter of 1997.
Medjet Inc.'s HydroBlade(TM) and HydroBrush(TM) Keratomes are
proprietary surgical devices that utilize a hair-thin circular beam
of supersonic-velocity water to cut layers of the cornea and other
human tissue. In lamellar keratoplasty, based on initial
experiments on enucleated eyes and live rabbit eyes, the company's
HydroBlade(TM) Keratome is expected to be safer, more accurate and
less expensive than other scalpel-based cutting devices and to
result in a more stable corneal adjustment that is less painful for
patients.
All statements regarding the anticipated or expected benefits of
the HydroBrush(TM) Keratome and the HydroBlade(TM) Keratome and the
timetable for delivery of the HydroBlade(TM) Keratome and the
application to the FDA are merely projections and may not be
realized.
--30--rc/ny*
CONTACT: Medjet Inc.
Eugene I. Gordon, 908/738-3990
or
Lobsenz Stevens, Inc.
Mark Perlgut, 212/684-6300 ext. 309
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: MEDICINE BIOTECHNOLOGY PRODUCT
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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Any thoughts......... |
