Lantis Laser Inc. has the exclusive right to commercialize the application of OCT in the dental field, under its license Agreements with Lawrence Livermore National Laboratory and LightLab Imaging. Optical coherence tomography (OCT) is an example of a “state of the art” optoelectronics with a real-world applications.
Lawrence Livermore National Laboratory (LLNL ) is a premier applied science laboratory that is part of the National Nuclear Security Administration (NNSA) within the Department of Energy (DOE). Lawrence Livermore National Laboratory has been managed since its inception in 1952 by the University of California for the U.S. government. The Lawrence Livermore National Laboratory is an international leader in many areas of science and technology central to national security mission.
Lawrence Livermore National Laboratory is able to also make major advances to meet other national needs. Lawrence Livermore National Laboratory pursues major research programs in energy and environment, bioscience and biotechnology, and basic science and advanced technology. Lawrence Livermore National Laboratory has an annual budget of about $1.6 billion and a staff of over 8,000 employees. It has over 3,500 scientists, engineers, and technicians together with professionals in many other disciplines. Research ranges from astrophysics to materials science at the nanoscale and from precisely-diagnosed experiments to terascale computer simulations.
Through license agreements, numerous Laboratory-developed products are now in the marketplace, earning licensees revenues estimated at more than $100 million. The LLNL license has granted Lantis Laser Inc. exclusive rights for the application of OCT in the dental field.
Lantis was quick to understand the incredible value in the application of OCT technology to the dental field and is developing its exclusive license agreement with the Lawrence Livermore National Laboratory.
What Does an Exclusive Agreement with Lawrence Livermore National Laboratory Mean?
This exclusive agreement means that Lantis will be the only company able to apply OCT technology for in the field of dentistry. This application is expected to be reasonably priced, affordable for most dentists offices and Lantis Laser will be the exclusive source!
In the U.S., dentists form the largest medical sub-group, with 140,000 practicing in 100,000 offices in 380,000 treatment rooms. Europe, Japan and other first world countries have at least another 100,000 offices. Based on the assumption that each office would purchase one OCT System, the world market can be estimated at 200,000 Systems. At the targeted maximum retail price of $20,000 the total potential market for the OCT System is estimated at $4 billion.
Lantis Laser believes it can achieve a market penetration of approximately 5%, or $200 million sales at retail over the first 4 years from when sales commence.
What does this exclusive right to OCT technology mean for Lantis Laser Inc? It means Lantis Laser alone has the right to develop OCT in the field of dentistry and that is a very good thing!
Stay tuned for more on the path to becoming the Industry Standard and what that means for Lantis.
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