Navigation Links
Cyberonics Announces Epilepsy Technology Collaborations
Date:10/2/2009

HOUSTON, Oct. 2 /PRNewswire-FirstCall/ -- Cyberonics, Inc. (Nasdaq: CYBX) today announced two collaborations in the field of EEG-based seizure detection to build on its position as the leader in medical devices for epilepsy.

On October 1, 2009, Cyberonics entered into a License Agreement with NeuroVista Corporation, providing Cyberonics with access to a range of technology and patents in exchange for payments extending through April 2011. The NeuroVista technology will enable Cyberonics to accelerate its program for development of an implantable pulse generator for stimulating the vagus nerve in response to EEG-based detection of a seizure and includes technology related to an algorithm for seizure detection, a rechargeable battery system, wireless communication, and an implantable lead.

NeuroVista, based in Seattle, Washington, is an early-stage medical device company pioneering new technologies in the management and treatment of epilepsy, including a novel Seizure Advisory System.

Earlier this year, Cyberonics entered into an Exclusive Patent License Agreement and a Research Agreement with the Massachusetts Institute of Technology to license two patent applications relating to EEG-based seizure detection and to sponsor related research. The license agreement provides for minimal up-front and annual payments and future royalty payments based on net sales of the licensed product.

"Collectively, these agreements demonstrate our commitment to continuing to develop medical devices for patients with epilepsy, and incorporating new and promising technology into future generations of the VNS Therapy System, " said Dan Moore, President and Chief Executive Officer. "The proven ability of VNS Therapy to provide significant long-term relief to people with epilepsy, including seizure reduction and improvements to quality of life, will be enhanced by these and other investments in our research and development efforts.

"Combining these investments with our previously disclosed investments in cardiac-based seizure detection provides a unique, broad-based approach to developing seizure detection for patients with epilepsy.

"We are excited that two leaders in the field of epilepsy have chosen to join us in helping to improve the lives of patients with epilepsy."

About Cyberonics, Inc. and VNS Therapy(TM)

Cyberonics, Inc. (NASDAQ: CYBX) is a medical technology company with core expertise in neuromodulation. The company developed and markets the Vagus Nerve Stimulation (VNS) Therapy(TM) System, which is FDA-approved for the treatments of refractory epilepsy and treatment-resistant depression. The VNS Therapy System uses a surgically implanted medical device that delivers pulsed electrical signals to the vagus nerve. Cyberonics markets the VNS Therapy System in selected markets worldwide.

Additional information on Cyberonics, Inc. and VNS Therapy(TM) is available at www.cyberonics.com and www.vnstherapy.com.

Safe harbor statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the use of forward-looking terminology, including "may," "believe," "will," "expect," "anticipate," "estimate," "plan," "intend," "forecast," or other similar words. Statements contained in this press release are based on information presently available to us and assumptions that we believe to be reasonable. We are not assuming any duty to update this information if those facts change or if we no longer believe the assumptions to be reasonable. Investors are cautioned that all such statements involve risks and uncertainties, including without limitation, statements concerning building on our position as the leader in medical devices for epilepsy, accelerating our program for development of an implantable pulse generator for stimulating the vagus nerve in response to EEG-based detection of a seizure, incorporating new and promising technology into future generations of the VNS Therapy System, enhancing seizure reduction and improvements to quality of life through the investments described in this press release, making other investments in research and development, and developing seizure detection for patients with epilepsy. Our actual results may differ materially. Important factors that may cause actual results to differ include, but are not limited to: continued market acceptance of VNS Therapy(TM) and sales of our product; the development and satisfactory completion of clinical trials and/or market test and/or regulatory approval of VNS Therapy(TM) for the treatment of other indications; satisfactory completion of post-market studies required by the U.S. Food and Drug Administration as a condition of approval for the treatment-resistant depression indication; adverse changes in coverage or reimbursement amounts by third-parties; intellectual property protection and potential infringement claims; maintaining compliance with government regulations and obtaining necessary government approvals for new indications; product liability claims and potential litigation; reliance on single suppliers and manufacturers for certain components; the accuracy of management's estimates of future expenses and sales; the results of the previously disclosed governmental inquiries; the potential identification of material weaknesses in our internal controls over financial reporting; risks and costs associated with such governmental inquiries and any litigation relating thereto or to our stock option grants, procedures, and practices and other risks detailed from time to time in our filings with the Securities and Exchange Commission (SEC). For a detailed discussion of these and other cautionary statements, please refer to our most recent filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 24, 2009.

    CONTACT INFORMATION:
    Greg Browne, CFO
    Cyberonics, Inc.
    100 Cyberonics Blvd.
    Houston, TX 77058
    Main:  (281) 228-7262
    Fax:  (281) 218-9332
    ir@cyberonics.com

SOURCE Cyberonics, Inc.


'/>"/>
SOURCE Cyberonics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Cyberonics to Present at Maxim Group Growth Conference
2. Cyberonics to Present at UBS Global Life Sciences Conference
3. Cyberonics Reports Strong Fiscal 2010 First Quarter Results
4. Cyberonics to Present at Canaccord Adams 29th Annual Global Growth Conference
5. Cyberonics Announces Conference Call to Discuss Fiscal Year 2010 First Quarter Financial Results
6. Cyberonics Announces Exclusive Distribution Agreement With Nihon Kohden in Japan
7. Cyberonics Names Bryan D. Olin, Ph.D. Vice President, Quality
8. Cyberonics Announces Conference Call to Discuss Fourth Quarter and Fiscal Year 2009 Financial Results
9. Cyberonics Continues Strong Sales Growth and Profitability in Fiscal 2009 Third Quarter
10. Cyberonics Announces Conference Call to Discuss Fiscal Year 2009 Third Quarter Financial Results
11. Cyberonics Names Milton M. Morris, Ph.D. Vice President, Research & Development
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/25/2017)... ... July 25, 2017 , ... Dr. Donna Bergman, professor of ... and published an article in the medical science journal Physical Medicine and Rehabilitation ... article and the research that helped produce it, were written and conducted in ...
(Date:7/25/2017)... (PRWEB) , ... July 25, 2017 , ... ... Winner for its Product Innovation in the prestigious CEO World Awards®. The coveted ... performance, new products and services, CEO case studies, corporate social responsibility, and milestones ...
(Date:7/24/2017)... , ... July 24, 2017 , ... Cheerag D. ... Saint Luke’s Marion Bloch Neuroscience Institute (SLMBNI), part of Saint Luke’s Health ... 2016. , Cheerag D. Upadhyaya, MD. M.Sc., FAANS joins Stanley P. Fisher, ...
(Date:7/24/2017)... ... July 24, 2017 , ... Horizon Goodwill Industries, ... opportunity that helps high school girls succeed in STEM programs as well as ... Goodwill will host over 20 high school girls at their corporate headquarters on ...
(Date:7/24/2017)... , ... July 24, 2017 , ... Every year, thousands ... and educational conference, InstructureCon. Each annual event is coupled with a dynamic theme like ... a James Bond theme, Mission: InstructureCon 0017. , To extend their partnership with ...
Breaking Medicine News(10 mins):
(Date:7/6/2017)... , July 6, 2017 ThriveRx, the nutrition division of ... their families to thrive on nutrition support. To celebrate its ... new site has a fresh new look with improved organization to create ... ... ...
(Date:7/5/2017)... -- Oramed Pharmaceuticals Inc. (NASDAQ: ORMP ... pharmaceutical company focused on the development of oral drug delivery ... Israel Securities Authority to dual-list its common stock on the ... trading on the TASE on July 12, 2017 under the ... Company, it is expected that Oramed will be included in ...
(Date:7/5/2017)... 2017   BioLife Solutions , Inc. (NASDAQ: ... of proprietary clinical grade cell and tissue hypothermic ... today announced that it has reached an agreement with ... shareholder, to modify its existing credit facility effective June ... WAVI agreed to exchange its existing $4.25 million credit ...
Breaking Medicine Technology: