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Microcap & Penny Stocks : Microvision (MVIS) -- Ignore unavailable to you. Want to Upgrade?

To: kili who wrote (3646)	9/27/1999 10:14:00 AM
From: JDN	Respond to of 7721

Dear Kim: Press release out this morning. jdn . Companies Embark on Joint Development of Surgical Visualization And Ophthalmic Products BOTHELL, Wash., Sept. 27 /PRNewswire/ -- Microvision, Inc. (Nasdaq: MVIS) today reported that a multi-year product development and licensing agreement has been signed with Carl Zeiss, Inc., a world leader in precision optics and optical instrumentation. The agreement calls for the companies to jointly develop a range of products based on Microvision's heavily patented retinal scanning display technology, for commercialization in the ophthalmic diagnostics and surgical visualization markets. The companies indicated that they have begun work on the development of a range of ophthalmic diagnostic products, to be marketed through Zeiss Humphrey Systems, a global market share leader in ophthalmic instruments. In a parallel effort, Zeiss' Surgical Products Group is planning the development of a series of display products featuring Microvision technology to enhance visualization for neurosurgery. The companies also reported that Zeiss would contribute funding towards ongoing development of a wearable display for neurosurgical navigation, under a contract with the Wallace Kettering Neuroscience Center. Zeiss will have exclusive rights to Microvision technology within the ophthalmic diagnostics category and in certain application areas within the category of surgical visualization, and will use Microvision display technology exclusively in its future products for surgical visualization. The companies have agreed to keep product details, including specific launch dates confidential for competitive reasons, but suggested that additional information would be forthcoming at a later date. "This partnership with one of the world's leading developers of high quality optical instrumentation and medical systems marks an auspicious entry into the medical arena," said Rick Rutkowski, Microvision President and CEO. "Zeiss is an ideal partner for Microvision. They have sustained market leadership and unsurpassed brand recognition in optical instrumentation and visualization aids. They are aggressive innovators who complement Microvision's technical strengths with a 150-year tradition of producing the world's finest optical products, and they have made a substantial commitment to taking products to market that feature Microvision technology. This partnership has the potential to yield a broad range of powerful new medical imaging products over the coming years. The market opportunity is substantial for multiple products in both categories and both product categories have excellent prospects for continued growth." Lothar Koob, president of Zeiss Humphrey Systems added, "initially, Microvision's prototype product used for detection of retinal disease, coupled with their on-going results from clinical studies conducted at the Shiley Eye Center, University of California San Diego, have given us the confidence to move forward aggressively with this development effort. Microvision has a technology foundation, which can potentially lead to new very effective diagnostic tools for eye care instrumentation. We have no doubt that the eye care marketplace will immediately see the value of the new products currently under development. Combining the competencies of both companies is an excellent foundation for a long and profitable relationship." Michael Kaschke, General Manager, of Zeiss' Medical Technology Group said, "We are very excited about the opportunity to work with Microvision's unique display technology. As the market for microsurgery and computer-assisted surgery develops, demand for new kinds of electronic visualization tools continues to grow. We believe that Microvision's retinal scanning display technology offers the potential to enable a range of unique products that will enhance both existing and future surgical visualization and navigation systems."