Cell Robotics International Inc. announces acquisition of cutting-edge laser technology.ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Jan. 11, 1996--Cell Robotics International Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CRII CRII Cooperative Research in Information Infrastructure CRII Customer Returns Improvement Initiative ) announced today that it has signed a definitive agreement with Tecnal Products Inc., a subsidiary of Lovelace Scientific Resources Inc., to acquire one U.S. patent, one U.S. and one foreign patent application and a strategic license. These acquisitions comprise a package of technological assets which will give the company the exclusive right to manufacture two cutting-edge laser products: a low-cost, high-power, solidstate laser that eliminates many of the delicate optical requirements of conventional solidstate lasers, and a laser perforator per·fo·rate v. per·fo·rat·ed, per·fo·rat·ing, per·fo·rates v.tr. 1. To pierce, punch, or bore a hole or holes in; penetrate. 2. (Lasette) that will permit a nearly painless method of obtaining fingerstick blood samples for monitoring the blood sugar levels of diabetic patients. The license agreement with New Technology Enterprise Center (NTEC NTEC National Tribal Environmental Council NTEC National Transportation Enhancements Clearinghouse NTEC Naval Training Equipment Center NTEC Network Terminal Equipment Center (AT&T) NTEC National Telecommunication Education Committee ) of Russia grants to the company the exclusive right to jointly develop new laser products and to further refine and distribute the technologies, which were originally developed by NTEC in Russia. The advanced laser design can be used in a large variety of laser applications, including skin resurfacing Skin Resurfacing Definition Skin resurfacing employs a variety of techniques to change the surface texture and appearance of the skin. Common skin resurfacing techniques include chemical peels, dermabrasion, and laser resurfacing. (facial wrinkle Wrinkle A feature of a new product or security intended to entice a buyer. removal), laser dentistry laser dentistry Dentistry Any use of lasers in dentistry–eg, zapping caries, cosmetic dentistry. See Cosmetic dentistry. , eye surgery and other medical and industrial procedures. The company intends to augment its recently announced Cell Robotics Workstation, and its LaserTweezers(TM) and LaserScissors(TM) with new products based upon this advanced design. Under the terms of the definitive agreement, Cell Robotics will acquire all of the technological assets in consideration of cash payments in the amount of approximately $15,000, the issuance of an aggregate of 17,500 shares of Cell Robotics common stock, and the grant of a 1 percent royalty on future sales based upon the technology, with a lifetime maximum of $20,000. Dr. Ronald Lohrding, president and chief executive officer of Cell Robotics, stated: "This acquisition provides us with a patent-protected laser design which offers substantial price and performance advantages with applications in a number of laser products. We intend to immediately begin developing direct applications of these technologies to the company's existing products as well as new applications that can expand the company's market opportunities." CONTACT: Craig T. Rogers, 719/590-4900 |
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