|[February 11, 2013]
Photonics Begins Commercialization of stLase Laser System for Soft Tissue Surgery
MOSCOW --(Business Wire)--
In January 2013 Photonics, with investments from Maxwell Biotech Venture
Fund and RVC Seed Fund, made the first domestic sale of the laser system
stLase to the global market under the brand name Alta®. The company's
development partner, Dental Photonics Inc., is engaged in the
commercialization of the product in the global market and has placed
over a dozen laser systems beginning in March 2012 in the United States
and in Japan as of July 2012. They also plan on selling in South Korea
upon approval from the local regulator (KFDA).
"Photonics recent sales are very important news for our fund. StLase has
become the first world-class innovative product developed with the
participation of Maxwell Biotech Venture Fund, to enter both global and
the Russian markets and is already being used to treat patients in the
United States, Russia and Japan. We are confident that through the
coordinated efforts of our international team that successfully
completed the development and sale preparation of stLase, this device
will hold a strong position in the competitive market of dental laser
equipment," said Dmitry Popov, Managing Partner of Maxwell
Biotech Venture Fund.
"We are excited about commencement of commercial sales in the Russian
Federation. This laser system features best-in class medical technology
created over several years of intense collaboration with our Russian
partners. The product's unprecedented precision, speed, safety and ease
of use have been enthusiastically received by top key opinion leaders in
the U.S. We are pleased with the continued adoption of our products by
top Russian clinicians and look forward to working with our
international partners to establish a leading position in the medical
laser instruments market," said Alexander Vybornov, Dental
Alexey Teleshev, CEO of RVC Seed Fund added: "Photonics is a
unique illustration of the global competitiveness of Russian
technologies, developed in partnership with international experts. At
the moment, the project has reached a major milestone and has started
generating revenue as a result of the first sales in Russia and abroad."
StLase (Alta®) - is a compact laser systm designed for various
procedures and treatments on the soft tissues. The system consists of
the main console, equipped with a 7-inch interactive touch screen, and
the applicable modules that can be attached to the side of the console.
Advantages of the new laser system include its compactness,
multi-function capabilities, ergonomics, and the relatively low cost.
The device can also be used in cardiovascular surgery, surgery in
obstetrics and gynecology, ENT, proctology as well as other medical
In late 2012, the developed design won two prestigious international
awards: iF Product Design Award in 2013 and 2012 Good DesignTM.
Photonics is a innovative company founded in
2010 and financed by Maxwell Biotech Venture Fund and RVC Seed Fund.
Photonics is a participant in the Technology Platform "Medicine of the
Future" and a resident of Biomedical Cluster at Skolkovo Innovation
Center. The main goal of Photonics is to develop and bring to the
Russian market innovative laser technologies for soft and hard tissue
surgery. The development partner of Photonics is an American company
Dental Photonics Inc.
About Dental Photonics, Inc.
Dental Photonics, Inc. is a
leading researcher and developer of cutting-edge light-based
technologies for dental and medical markets. With development centers
near Boston, Massachusetts and in St. Petersburg, Russia, the Company's
team of world-class North American and international scientists and
clinicians have created a robust pipeline of innovative photonics
products supported by the portfolio of over 20 issued and pending
patents. Dental Photonics' novel TOP® Surgery, Automatic Power Control
(APC (News - Alert)™), and SureStep™ tip initiation technologies mark the first
milestone in a series of groundbreaking developments aimed at providing
novel and enhanced instruments to the dental practitioner.
About Maxwell Biotech Venture Fund
Maxwell Biotech Venture
Fund (MBVF) is one of the first Russian funds dedicated to investments
in the life science sector and was formed with the participation of RVC.
MBVF relies on an experienced international team of managers and
financial and industry experts and has offices in Moscow and Boston.
MBVF is investing in product development companies specializing in a
broad range of therapeutic areas or medical devices categories. To date,
MBVF has invested in OncoMax (oncology), NeuroMax (CNS), MetaMax
(oncology & metabolic diseases), Infectex (infectious diseases),
CardioNova (cardiovascular diseases), Hepatera (liver diseases), Osteros
Biomedica (cancer-induced bone diseases), Eleventa (inflammatory
respiratory diseases) and Photonics (novel lasers for medicine and
dentistry). Products in these companies originated either from Russian
scientists or were licensed from international biopharma companies. All
the portfolio companies are residents at Skolkovo Innovation Center.
About RVC Seed Fund
RVC Seed Fund, Ltd was established on
22nd of October 2009 in furtherance of the RVC Strategy. Seed Fund
founding members are RVC (99%) and Foundation for Assistance to Small
Innovative Enterprises (1%). The Seed Fund is focused on investing into
Russian innovative companies with high growth potential on Russian and
foreign technology markets. The Seed Fund activities are assisted by
Venture Partners and Initiators, who have access to scientific,
material, technical and financial resources which are essential for
Venture Partners' activities. The Seed Fund Investment Policy (strategy)
is to invest Seed Fund capital in securities and shares in authorized
capitals of Russian seed stage innovative enterprises.
RVC is a government fund of funds and a
development institute of the Russian Federation; since 2006 it has been
one of Russia's key tools in building its own national innovation
economy. RVC invests government capital through VC funds that it creates
in partnership with private investors. RVC has backed 12 funds
(including two funds outside Russia) with a total capitalization of RUB
26 billion (about US$860 million), its share amounting to RUB 16 billion
(about US$530 million). As of November 2012, RVC-backed funds hold a
portfolio of 126 companies, with invested capital totaling RUB 10.8
billion (about US$350 million).
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