Lantis Laser closes $2.5 million private placement

By Sheri Kasprzak

New York, May 8 - Lantis Laser Inc. sealed a $2.5 million private placement.

The terms of the offering were unavailable by press time Tuesday.

Proceeds will be used to complete phase 2 development on the company's Optical Coherence Tomography Dental Imaging System, which is used for the early detection of oral diseases like decay and periodontal disease.

Located in Denville, N.J., Lantis develops devices used to detect oral diseases.

On Tuesday, the company's stock lost a penny to end at $0.45 (Pink Sheets: LLSR).

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