BIOLASE Enters Into Development Agreement with IPG Photonics

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IRVINE, Calif.--(BUSINESS WIRE)-- BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, announced today that it recently entered into a development and distribution agreement with IPG Photonics Corporation’s medical laser division, IPG Medical.

IPG Photonics Corporation (“IPG”) pioneered the development and commercialization of optical fiber-based lasers, creating a new generation of lasers with superior performance, reliability and lower costs. IPG grew to become one of the world’s largest laser companies, opening up a myriad of industrial, manufacturing and medical applications using their unique fiber and semiconductor lasers.

The development and distribution agreement between BIOLASE and IPG covers several projects in various stages of development, with the expectation that these projects will culminate in commercialized joint dental laser products, accessories, or integral system components. The parties will collaborate in the design and development of these new products and applications, with each party contributing their respective technological expertise, know-how, and development resources. BIOLASE will be responsible for U.S. and international registrations of all dental products resulting from the agreement, and will have exclusive worldwide commercial distribution rights for certain products over a multi-year initial term after completion of development.

“We are extremely fortunate to partner with IPG, the world leader in fiber laser technology,” said Harold C. Flynn, Jr., President and Chief Executive Officer of BIOLASE. “This partnership brings with it significant opportunity to advance our product designs and our supply chain, ultimately to provide a broader, deeper and more capable portfolio of laser-based solutions to dental practitioners globally.”

“This will advance efforts to fulfill our purpose, enabling clinicians to repair and restore patient’s dental conditions, while alleviating pain, and reducing the anxiety commonly associated with invasive dental procedures,” added Flynn.

“This partnership with BIOLASE fits very well with IPG’s strategic development and desire to build our medical application business. The parties will combine their expertise and capabilities to improve existing and develop new dental laser applications in markets with significant unmet clinical needs. BIOLASE’s established dental channels deepen our distribution capabilities in this area and leverage our patented dental laser technology and platforms,” said Dr. Gregory Altshuler, President of IPG Medical.

About BIOLASE, Inc.

BIOLASE, Inc. is a medical device company that develops, manufactures, and markets innovative lasers in dentistry and medicine and also markets and distributes high-end 2D and 3D digital imaging equipment, CAD/CAM intraoral scanners, and in-office milling machines and 3D printers. BIOLASE's products are focused on technologies that advance the practice of dentistry and medicine and offer benefits and value to healthcare professionals and their patients. The Company's proprietary laser products incorporate approximately 250 patented and 100 patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. Its innovative products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE’s principal products are revolutionary dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. BIOLASE has sold more than 28,000 laser systems. Laser products under development address the Company's core dental market and other adjacent medical and consumer markets.

BIOLASE, WaterLase and iPlus are trademarks of BIOLASE, Inc.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements contained in this press release that refer to BIOLASE's estimated or anticipated future results or other non-historical facts are forward-looking statements, as are any statements in this press release concerning prospects related to BIOLASE's strategic initiatives and anticipated financial performance. Forward-looking statements can also be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect BIOLASE's current expectations regarding existing trends, our strategic initiatives, the closing of the private placement and expected use of proceeds and speak only as of the date of this release. Actual results may differ materially from BIOLASE’s current expectations depending upon a number of factors affecting BIOLASE’s business. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that may be detailed, from time-to-time, in BIOLASE's reports filed with the SEC. BIOLASE does not undertake any responsibility to revise or update any forward-looking statements contained herein.

BIOLASE, Inc.
David Dreyer
Chief Financial Officer
888-424-6527
ddreyer@biolase.com
or
DresnerAllenCaron
Rene Caron (Investors)
949-474-4300
rcaron@dresnerallencaron.com
or
Len Hall (Media)
949-474-4300
lhall@dresnerallencaron.com

Source: BIOLASE, Inc.

Released January 12, 2016