Navigation Links
Cyberonics Licenses Obesity-Related Patents
Date:12/18/2007

HOUSTON, Dec. 18 /PRNewswire-FirstCall/ -- Cyberonics, Inc. (Nasdaq: CYBX) announced that effective December 18, 2007, the company has entered into an agreement with Ethicon Endo-Surgery granting exclusive rights to the company's patents and patent applications pertaining to vagus nerve stimulation (VNS) for the treatment of obesity and two related co-morbidities, diabetes and hypertension, in overweight patients.

Ethicon Endo-Surgery has agreed to pay Cyberonics a signing fee of $9.5 million and royalties on commercial sales of products covered by the subject patents.

"This agreement advances our mission to improve the lives of people affected by chronic neurological disorders," commented Dan Moore, Cyberonics' President and Chief Executive Officer. "Out-licensing our obesity-related patents permits us to obtain value from these assets while we continue to focus on our other strategic objectives -- achieving positive cash flow and profitability, growing our core epilepsy business, and appropriately developing our treatment-resistant depression business -- and provides an opportunity for a device leader in the obesity space to utilize Cyberonics' assets in developing weight reduction solutions."

More than 46,000 patients worldwide have benefited from VNS Therapy during the past 10 years.

ABOUT VNS THERAPY AND CYBERONICS

Information on Cyberonics, Inc. and VNS Therapy is available at http://www.cyberonics.com and http://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," and "forecast," or other similar words. Statements contained in this press release are based upon information presently available to us and assumptions that we believe to be reasonable. We are not assuming any duty to update this information should those facts change or should 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 achieving positive cash flow and profitability, growing our core epilepsy business, appropriately developing our TRD business, and developing VNS as a viable therapy for weight reduction. 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 and sales of our product; the development and satisfactory completion of clinical trials and/or market test and/or regulatory approval of VNS Therapy 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 TRD 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 new 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 (including the previously disclosed private litigation); uncertainties associated with stockholder litigation; 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 27, 2007.

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.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. MedImmune Licenses Reverse Genetics Technology to GlaxoSmithKline for Use in Influenza Vaccine Development and Production
2. Sanofi-Aventis renews licenses for Genomatix chip analysis pipeline
3. NuVasive Licenses Its Insert and Rotate Technology
4. GeneGo Licenses MetaCore Data Analysis Suite to AVEO Pharmaceuticals
5. Optherion Licenses Worldwide Rights to Develop Age-Related Macular Degeneration Diagnostics Based on Chromosome 10 Genetic Variations
6. Quest Diagnostics Licenses Technology Underlying SensiTrop(TM) HIV Co-Receptor Tropism Test from Pathway Diagnostics
7. HealthTek Software Solutions Licenses First DataBanks OrderView Med Knowledge Base(TM) to Streamline Medication Selection, Management and Reconciliation
8. Elan Pharmaceuticals, Inc. Licenses Software and Databases From GeneGo
9. SuperArray Bioscience Corporation Licenses RNA Interference Patent From The Carnegie Institution
10. Start Licensing, Inc. Further Strengthens Position in Cloning Industry With New Patents
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/26/2017)... BC (PRWEB) , ... July 26, 2017 , ... ... (the “Company” or “Isodiol”) a global cannabis innovator, specializing in the development of ... the period from April 1, 2017 to June 30, 2017. Iso International LLC ...
(Date:7/26/2017)... ... 2017 , ... Wendy M. Musielak, a partner at the Andrew Cores Family Law ... Association’s third Vice President earlier this year. She will serve the membership in this capacity ... President, in accordance with the organization’s by-laws. , Musielak joined the Andrew ...
(Date:7/26/2017)... ... , ... The number of adults 65 years or older is expected to ... control in the population are not well described. In a study published in The ... of the American Academy of Allergy, Asthma & Immunology (AAAAI), researchers identified factors associated ...
(Date:7/25/2017)... PALM SPRINGS, California (PRWEB) , ... July 25, 2017 , ... ... don't involve cranking up the air conditioner — think homemade gourmet ice cream, sparkling ... up inside a gift shop featuring fun mugs, journals, and other must-have knick knacks. ...
(Date:7/25/2017)... ... July 25, 2017 , ... Creative Pharmacist and ... provide the Pharmacist eCare Plan to Computer-Rx pharmacies through the STRAND ... ability to develop the Pharmacist eCare Plan, a shared document detailing a patient’s ...
Breaking Medicine News(10 mins):
(Date:7/12/2017)... 12, 2017  Eli Lilly and Company (NYSE: ... companies to resolve pending patent litigation in the U.S. District ... regarding the Cialis ® (tadalafil) unit dose patent. ... 2020. As part of the agreement, Cialis exclusivity is now ... "The unit dose patent for Cialis is valid ...
(Date:7/11/2017)... LINCOLNSHIRE, Ill. , July 11, 2017 /PRNewswire/ ... hematology and urinalysis diagnostic testing equipment as well ... latest innovation: a way to make quality assurance ... control processes. "Sysmex is well known for the ... SM Quality Monitor elevates quality assurance processes ...
(Date:7/10/2017)... 2017 The Institute for In Vitro Sciences ... recipient of a VITROCELL® inhalation exposure system thanks to ... The device, which is designed to replace animals in ... cells to airborne test materials in an environment that ... system for testing combustible tobacco products, as well as ...
Breaking Medicine Technology: