Patent Office Reissues Lasersight Scanning Patent

WINTER PARK, Fla., Jan. 17 -- LaserSight Inc. said the US Patent and Trademark Office has reissued its patent 5,520,679, Ophthalmic Surgery Method Using Non-Contact Scanning Laser, formerly known as the '679 patent, as US Patent No. RE37,504 (the '504 Scanning Patent). The company previously announced the Patent Office's allowance of the reissue in March 2001.

In a separate announcement, the company said it received payment of an additional license fee of $2 million from Bausch & Lomb Inc. related to a license to what is now the '504 patent. Bausch & Lomb was granted a nonexclusive license to the '504 Scanning Patent in the ophthalmic field, which also provided for LaserSight to disclose certain confidential information related to its intellectual property portfolio. After reviewing this confidential information, Bausch & Lomb exercised its option to make the additional payment of $2 million, in return for which LaserSight has agreed to forgo its option to terminate Bausch & Lomb's license. In addition, Bausch & Lomb will not participate in any future net royalties LaserSight receives from the '504 Scanning Patent.