DENVILLE, NJ (December 27, 2006) Lantis Laser Inc., (PINKSHEETS:LLSR) a New Jersey based development stage company, is pleased to announce that it has recently completed a round of equity financing through a private placement.<?xml:namespace prefix = o />
In this round $585,000 was raised which enabled Lantis to move ahead on Phase 2 development of its novel imaging modality, Optical Coherence Tomography (“OCT”), for early detection of oral diseases such as caries (decay) and periodontal disease. Lantis has exclusive rights to OCT for dental applications through licensing agreements.
“ In Phase 2 we are building the OCT Dental Imaging SystemÔ to specifications that will allow clinicians to image in the mouth and obtain high resolution scans showing the characteristics of oral diseases”, said Dr Craig Gimbel (Director of Clinical Affairs). He went on to say, “This is highly significant as it marks the first time that dentists and researchers can use OCT in the mouth and capture information in real-time.” Until now researchers and developers have been confined to performing OCT scanning of teeth on the bench.
<?xml:namespace prefix = st1 />Stan Baron, President and CEO added, “Lantis has engaged a regional investment banking firm that specializes in equity financing, targeting small companies with exceptional potential. We will shortly do another round of equity financing through a private placement to raise up to $2.5 million. This is the additional amount that we need to complete the development, clinical experience and specification for the pre-production OCT Dental Imaging SystemÔ.”
An exclusive interview with Stan Baron, President & CEO of Lantis can be heard at http://www.wallstreetreporter.com and can also be heard by logging on to Lantis’ new website.
Lantis plans on introducing the OCT Dental Imaging SystemÔ to the dental profession in the second half of 2008.
Forward-Looking Statements:
Certain statements in this press release, including statements regarding the anticipated development and expansion of Lantis’ business, and the intent, belief or current expectations of Lantis, its directors or its officers, are forward looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
This press release is available at http://www.pinksheets.com
Contact:
Lantis Laser Inc.
Stan Baron, President and CEO
sbaron@lantislaser.com Tel. (203) 300-7622
