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Misonix Takes Step Forward in Ultrasonic Hearing Aid Market

Posted on: Wednesday, 19 October 2005, 09:01 CDT

FARMINGDALE, N.Y., Oct. 19 /PRNewswire-FirstCall/ -- Misonix, Inc. , a developer of ultrasonic medical device technology for the treatment of cancer and other healthcare purposes, today announced that it has contracted Ceres Biotechnology, LLC for services to assist in brining to market its ultrasonic medical devices for those with severe hearing impairment. These activities are an important element to Misonix's strategy for preparing for commercialization the products that had been in development by Hearing Innovations. As announced earlier this year and following its reorganization under Chapter 11, Hearing Innovations, a developmental company with patented HiSonic ultrasonic technology intended to alleviate profound deafness and tinnitus, became a wholly-owned subsidiary of Misonix.

Virginia-based Ceres Biotechnology has been contracted for an indefinite period expected to last approximately 18 months. Deliverables under the contract include professional consulting services for the development of technology, software programming, technical and product development engineering, selection of commercial partners, and the creation, testing and development of prototypes. As part of the contract, Ceres Biotechnology will conduct a clinical trail intended to prove efficacy. Ceres envisions the development of a multifunctional unit that will incorporate technologies addressing sensory processes essential for hearing and interpreting sound. The technology also will enable improved hearing by those less impaired, thus significantly expanding the addressable market.

"With a diversified medical device platform that addresses cancer treatment, wound care, aesthetics and other areas, we are excited by the prospects of bringing the benefits of ultrasound to those suffering from hearing disabilities," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "The scientist at Ceres are recognized for their novel applications and the use of sonic waves to assist human living. Moreover, we are delighted to have Ceres' Dr. Martin Lenhardt, a well recognized expert and one of the patent owners behind some of the technology in medical devices from Hearing Innovations, assisting in the development and commercialization of these products."

Ceres was formed in 2001 to develop intellectual properties or novel products that involve the use of sound waves and their interaction with humans and animals. The main focus of Ceres is to create patents, licenses or bring patented products to market. The proprietary technology and expertise of Ceres is based on practical research and patented work of Dr. Martin Lenhardt and Robert R. Guinta.

Dr. Lenhardt, a Professor of Biomedical Engineering and Emergency Medicine at Virginia Commonwealth University, is responsible for technology, research and patent portfolio management at Ceres. He holds degrees in Biology, Audiology and Psychoacoustics & Speech Science, and was a fellow at Johns Hopkins in Otolaryngology and Biomedical Engineering.

Mr. Guinta has over 25 years experience in product development and strategic marketing, including a tenure with hearing aid and hearing instrument manufacturer Beltone Electronics. With two patents to his credit, Mr. Guinta is a noted author of publications in the field of Audiology and Environmental Sciences. He has held guest faculty and consulting positions with the Speech and Hearing Departments of the City College of New York and New York University; the National Institute of Health; the Department of Health, Education and Welfare of St. Elizabeth's Hospital in Washington, DC; Seton Hall University; Colby College; and the Department of Otolaryngology at Yeshiva University Medical Center. In addition, Mr. Guinta has received numerous awards from speech and hearing associations, as well as the lifetime achievement award from the Academy of Audiology of the State of New York.

Dr. Lenhardt is the original scientist and patent owner behind some of the technology in medical devices from Misonix's Hearing Innovations unit, which is intended for commercial use by individuals who are profoundly hearing impaired or those suffering from tinnitus ("ringing in the ear"). Ceres maintained a license on the patent for use in military and industrial applications. Using this technology for military purposes, Ceres partnered with Northrop Grumman Newport News, Inc. to develop an enhanced speech communication system that eliminates air craft carrier noise when using head gear. The noise reduction process is enabled by miniature high frequency bone conduction transducers/amplifiers and speech processing algorithms that optimize understanding.

Misonix develops, manufactures, and markets medical, scientific, and industrial ultrasonic and air pollution systems. The Company has been at the forefront of ultrasonic technology for over 50 years. Misonix's ultrasonic platform is the basis for several innovative medical technologies. Misonix has a minority equity position in Focus Surgery, Inc., which uses high intensity focused ultrasound ("HIFU") technology to destroy deep-seated cancerous tissues without effecting surrounding healthy tissue. Addressing a combined market estimated to be in excess of $3 billion annually, Misonix's proprietary ultrasonic medical devices are used for wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company's Web site at http://www.misonix.com/.

Forward Looking Statements for Misonix, Inc.: With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. In particular, the Company may not be successful in its efforts with respect to strategic opportunities for its Laboratory and Scientific Division and the affect this activity may have on the other businesses within the Company. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, uncertainties as a result of research and development, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company's business lines, and other factors discussed in the Company's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K.

Misonix Contact: Investor Relations Contact: Richard Zaremba Jordan M. Darrow Chief Financial Officer Darrow Associates, Inc. 631-694-9555 631-367-1866 invest@misonix.com jdarrow@optonline.net

Misonix, Inc.

CONTACT: Richard Zaremba, Chief Financial Officer of Misonix,+1-631-694-9555, invest@misonix.com; Investor Relations - Jordan M. Darrow,Darrow Associates, Inc., +1-631-367-1866, jdarrow@optonline.net for Misonix,Inc.

Web site: http://www.misonix.com/

Source: PRNewswire-FirstCall

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