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SMALL BUSINESS
Ophthalmic International Announces Reimbursement Study Commencement in France
CYTTA Corp. (OTCBB: CYTC) announced today that the reimbursement process for Pneumatic Trabeculoplasty or “PNT” is to start in France. A six-month study to finalize government reimbursement approval for the PNT procedure will start April 1st in two locations in France. Professor Nordmann will head the first site in Paris, at the Hopital des Quinze-Vingts. Professor Denis will head the second site in Lyon at the Hopital Edouard Herriot.
Pneumatic Trabeculoplasty, or “PNT,” is a patented two-minute, non-invasive, cost-effective treatment for glaucoma, owned by Ophthalmic International, CYTTA Corp.’s wholly owned subsidiary.
“Our business plan related to the reimbursement process is proceeding as scheduled,” stated G. Richard Smith, Chairman and CEO of CYTTA Corp.
Mr. Smith went on to further state, “We have secured marketing approval in Europe and Canada, installed a distribution network that is rapidly expanding, and we are now establishing the required reimbursement approval for the procedure. The approval process for France, which should be completed by year-end, will allow any glaucoma patient in France to receive treatment at no cost. It has been estimated that France alone has over 400,000 people that are affected by the disease. Our revenue estimate forecasts millions of dollars annually for CYTTA Corp. through the sale of its patented equipment and disposable rings from just France alone.”
A similar plan for national reimbursement is currently underway in Italy, by our exclusive distributor in that region.
“It’s a domino effect,” stated Francesco Aspes, MD, President of Ophthalmic International. As more countries establish reimbursement for PNT, more countries will implement it in their national health system. We expect this procedure to continue to expand rapidly. Distribution of our products has now spread from Europe to Africa, Asia and South America, with new distribution contracts expected to be signed within the next 30 days.
About Ophthalmic International
Ophthalmic International (www.oi-pnt.com) is a wholly owned subsidiary of CYTTA Corporation. Ophthalmic International is a medical device manufacturing company with a focus in ophthalmology. Over the past ten years the company has developed a non-surgical, non-pharmaceutical approach for the treatment of open angle glaucoma, pigmentary dispersion glaucoma and ocular hypertension. The company’s patented approach, called Pneumatic Trabeculoplasty, or PNT, is performed in the eye care professional’s office on an outpatient basis and involves the application of a specially designed suction ring, patented by the company, to the surface of the eye for approximately one minute. The duration of the IOP lowering effect, based on numerous studies, is on average 3-4 months, at which time the treatment can be repeated.
Glaucoma is the second leading cause of blindness, affecting over 70 million people worldwide. PNT has been proven (through studies completed over the last 10 years) to be a safe and effective non-invasive treatment with no adverse side effects, unlike medications usually prescribed to treat glaucoma that come with a multitude of side effects.
Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company’s products, increased levels of competition for the company, new products and technological changes, the company’s dependence on third-party suppliers, and other risks detailed from time to time in the company’s periodic reports filed with the Securities and Exchange Commission.