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Veran Medical Technologies Announces Intellectual Property Agreement With Medtronic

Expands Veran's electromagnetic (EM) navigation for oncology procedures.

ST LOUIS, June 1 /PRNewswire/ -- Veran Medical Technologies announced today that it has entered into an agreement with Medtronic surrounding intellectual property. Veran secured a worldwide license to intellectual property from Medtronic related to electromagnetic navigation. The Navigation division of Medtronic has developed significant intellectual property in the field of electromagnetic navigation through its StealthStation(R) AxiEM(TM) Navigation System for use in neuro, spine, and ENT surgery. The licensing of the Medtronic electromagnetic navigation and registration patents will enable Veran to expand its IG4 line of product capabilities and market breadth in the minimally invasive interventional oncology field. Veran is currently marketing the IG4 - X-Thoracic Navigation System and intends to launch an IG4 - Endobronchial Navigation System, pending FDA Approval.

"This license agreement with Medtronic represents an extremely important expansion to our existing intellectual property portfolio and product pipeline," said Jerome R. Edwards, Veran president and chief executive officer. "Veran is now uniquely positioned with a substantial intellectual property portfolio, products that integrate seamlessly into clinical workflow, an experienced team of medical technology innovators, and an absolute commitment to improving the standard of care in minimally invasive interventional oncology procedures."

About Veran Medical Technologies, Inc.

Veran Medical Technologies is a privately held image guided medical device company focused on developing the next standard of care for minimally invasive delivery of interventional oncology therapies. Veran provides proprietary 4D registration capability for precise targeting of lesions via its FDA cleared platform. The Veran platform aims to reduce procedure time, reduce radiation exposure for the clinical staff, and increase targeting accuracy enabling physicians to cost effectively treat patients with reduced co-morbidity risk. Veran Medical Technologies is headquartered in St. Louis, MO.

SOURCE Veran Medical Technologies
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