Nov. 2, 2009 (PR Newswire) --
HOUSTON, Nov. 2 /PRNewswire-FirstCall/ -- Cyberonics, Inc. (Nasdaq: CYBX) today announced another in a series of collaborations around seizure detection technology aimed at advancing its development of new and more efficacious medical devices for persons suffering from epilepsy.
On October 19, 2009, Cyberonics entered into two agreements with Flint Hills Scientific L.L.C., a world leader in real-time detection and quantification of epileptic seizures through cardiac signal detection and processing. The agreements include a license under certain patents and patent applications, along with an option to license related inventions, and a framework for collaborative research and product development. The license agreement provides for up-front and annual payments, as well as future royalty payments based on net sales of licensed products.
Earlier last month, Cyberonics announced two collaborations in the field of EEG-based seizure detection.
"The agreements with Flint Hills Scientific, together with our other collaborations, demonstrate our commitment to developing new medical devices that incorporate cutting edge technology to provide improved device solutions for persons suffering from epilepsy," said Dan Moore, President and Chief Executive Officer. "We plan to provide more details on our future products at the Investor Day program scheduled for December 4, 2009 in Boston.
"We are excited about the opportunity to continue to work 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.
