|By Marketwired .||
|July 16, 2014 08:20 AM EDT||
BEVERLY, MA and TORONTO, ON -- (Marketwired) -- 07/16/14 -- Hamilton Thorne Ltd. (TSX VENTURE: HTL), a leading provider of precision laser devices and advanced image analysis systems for the fertility, stem cell and developmental biology research markets, today announced that it has received notice that the China Food and Drug Administration (CFDA) has approved the Company's cutting edge LYKOS® for sale to clinical markets in China. Concurrent to this, the Company is pleased to announce it has received a Notification to Grant Patent Right for Invention covering the Modular Laser Assembly that is at the heart of its LYKOS system.
"Since its introduction in 2011, our best-in-class LYKOS laser has become the leading laser for assisted reproduction procedures in the US," said David Wolf, CEO of Hamilton Thorne. "The ability to market this system in China for clinical use, coupled with the grant of patent protection covering its core technology should accelerate our already growing business in China."
The LYKOS laser system provides clinicians with exceptional ease of use for intricate assisted reproduction and pre-implantation genetic testing procedures, such as laser-assisted hatching, embryo biopsy and laser-pulse blastocyst collapse for vitrification. The LYKOS offers a significant advantage over competitive systems due to its integration of the laser diode within a custom microscope objective. This unique modular assembly has many benefits, including:
- Protection of the laser diode from environmental contaminants that can impair laser power, accuracy and functionality
- The ability to "lock" the laser alignment for highest embryo safety, even when the LYKOS is moved between microscopes and laboratories
- Built-in RED-i® target locator to ensure accuracy of laser application
- Compatibility with all major brands of microscopes, without the need of new hardware components
The CFDA Registration Certificate No 1401603 and related Medical Device Registration Record grants permission to Hamilton Thorne to market its LYKOS laser for clinical use to the Chinese market for a period of four years, subject to renewal.
The decision by the State intellectual Property Office of the People's Republic of China to grant a patent right covering the Modular Laser Assembly (Patent application number 200980154055.5) is subject to the completion of required registration formalities within the prescribed time limit, whereupon the State Intellectual Property Office shall grant the patent right, issue the letters patent, and have the patent registered and announced.
About Hamilton Thorne Ltd. (www.hamiltonthorne.com)
Hamilton Thorne designs, manufactures and distributes precision laser devices and advanced imaging systems for the fertility, stem cell and developmental biology research markets. It provides novel solutions for Life Science that reduce cost, increase productivity, improve results and enable research breakthroughs in fertility, regenerative medicine, and stem cell research markets. Hamilton Thorne's laser products attach to standard inverted microscopes and operate as robotic micro-surgeons, enabling a wide array of scientific applications and IVF procedures. Its imaging systems improve outcomes in human IVF clinics and animal breeding facilities and provide high-end toxicology analyses.
Hamilton Thorne's growing customer base includes pharmaceutical companies, biotechnology companies, fertility clinics, university research centers, and other commercial and academic research establishments worldwide. Current customers include world-leading research labs such as Harvard, MIT, Yale, McGill, DuPont, Monsanto, Charles River Labs, Jackson Labs, Merck, Novartis, Pfizer, and Oxford and Cambridge.
Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.