Nov 2 2009
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."
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