ATLC ATLANTIC TECHNOLOGY VENTURES INC: BAUSCH & LOMB - Highlighted in Cataract & Refractive Surgery Today Magazine
New York, New York, May 03, 2002 (Market News Publishing via COMTEX) -- The April 2002 edition of Cataract & Refractive Surgery Today features two articles on the Avantix Endocapsular Vortex Emulsification Technology originally introduced under the name Catarex(TM).
The Avantix device is currently under development by Bausch & Lomb (NYSE: BOL) under a royalty bearing agreement with Atlantic Technology Ventures, Inc. (OTC: ATLC.OB).
The first article is entitled, Endocapsular Vortex Emulsification Technology: A surgeon's experience with the Avantix technology, a true endocapsular procedure,
and is authored by Barry S. Seibel, MD, Director of Cataract Surgery at the Maloney-Seibel Vision Institute, Los Angeles, CA and Clinical Assistant Professor of Ophthalmology at the UCLA Medical School. In this article, Dr. Seibel provides a detailed description of how the Avantix technology works, its performance vis-a-vis ultrasound technologies, and its future potential for use
in conjunction with a truly injectable physiological lens implant that may essentially restore the lens that the patient had when he or she was a teenager.
He also notes his anticipation of the results of human clinical trials as they unfold, and his belief that the clinical information on the technology will grow
tremendously within this year.
The second article is entitled, Learning the Avantix Technique: How to perform surgery with the new endocapsular vortex emulsification technology, also authored by Dr. Seibel. In this article, Dr. Seibel provides a detailed
step-by-step description of the cataract removal technique using the Avantix device including how to create the capsulorhexis, hyrdrodissection and emulsification, and implanting the replacement lens. He notes that proper
education in the subtleties of the Avantix method will facilitate a smooth transition by surgeons from the existing ultrasonic phacoemulsification to the new Avantix technology.
About Cataract Surgery
Cataract removal is the most frequently performed operation for people over 60 with over 5.6 million operations performed annually worldwide. Medicare reimbursements for Cataract removal in the U.S. alone exceed $3.6 billion
annually and are steadily growing at about 13% per year.
About Avantix
Avantix is a proprietary surgical instrument system and associated disposable handpieces for cataract removal. Avantix is easier to use and less invasive than
currently available cataract removal technologies. It enables a surgeon to remove a cataract in less than 10 minutes through a single, 1.25 millimeter incision versus 25-40 minutes through a 3 to 11mm incision.
Avantix is the only technology that functionally preserves the lens capsule intact after surgery. If used in conjunction with liquid polymer lenses currently being developed by several large pharmaceutical companies, Avantix
could potentially treat cataracts, refractive error, and the need for reading glasses all at once. There are over 2.5 million refractive surgery operations annually performed in the U.S.
About Bausch & Lomb
Bausch & Lomb (NYSE: BOL), a multinational ophthalmic company, is developing the Avantix technology to overcome the limitations and deficiencies of traditional cataract extraction techniques. Bausch & Lomb, which has committed over $15 million on the project to date, has assumed full responsibility for development and marketing of the technology, and will pay Atlantic's subsidiary 7-10%
royalties on sales of the device and associated system.
About Atlantic Technology Ventures, Inc.
Atlantic is engaged in the development of biomedical and pharmaceutical products and related technologies. Atlantic's strategy is to identify nascent medical
products and technologies that have the potential to address unmet market needs, rapidly develop these through a definitive proof-of-principle, then partner, license or sell them to realize significant revenue. Atlantic currently has ownership interest in Avantix (formerly known as "Catarex"), a surgical device for cataract removal, and CT-3, a synthetic cannabinoid derivative for treating
pain and inflammation.
Safe Harbor Statement
Cautionary statement under the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995: This press release contains certain
forward-looking statements that relate to future scientific, business and
financial performance. These statements are only predictions and are subject to
a number of risks and uncertainties that may cause the actual events or results
to differ from those discussed or implied in these statements. These risks and
uncertainties include competition from other manufacturers of related
technologies, the unavailability of any necessary intellectual property rights
possessed by third parties, and certain of those risks described in Atlantic's
most recent report on Form 10-KSB with the Securities and Exchange Commission.
CONTACT: TEL: 212/825-3210 Shayne Payne / Dian Griesel, Ph.D.
The Investor Relations Group, New York
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