Luna Innovations Incorporated (NASDAQ: LUNA) announced today that it will expand its product development efforts under its development and supply agreement with Hansen Medical, Inc., to continue integrating Luna’s shape sensing technology into Hansen’s medical robotic products.
In December 2009, Luna and Hansen entered into a multi-year development and supply agreement in which Luna would supply and license its fiber optic shape sensing technology for integration into Hansen’s medical devices. Hansen, a global leader in flexible robotics, develops products and technology using robotics for the accurate positioning, manipulation and control of catheters and catheter based technologies. Luna and Hansen are amending the agreement to increase the development budget and expand the scope of the development work.
"The expansion of our agreement with Hansen reflects our continued dedication and focus on developing our shape sensing technology to enhance medical procedures,” said My Chung, president and chief executive officer of Luna Innovations. “We remain committed to achieving the best outcome for patients and strive to deliver solutions and enhance medical procedures that help save lives.”
“This expanded agreement is further evidence of both Hansen Medical’s and Luna’s interest in advancing medical robotic technology,” said Bruce Barclay, president and chief executive officer of Hansen Medical. “We continue to view Luna as a leader in advanced shape sensing and position tracking systems. We believe that our continued relationship has the potential to optimize robotically assisted medical procedures and positively impact patient lives.”Luna’s shape sensing and localization technology can provide real-time position measurements to help surgeons navigate through the body. The sensing system consists of software, instrumentation and disposable optical sensing fiber. Luna’s technology, originally developed at NASA, is unique and designed to provide the user with an accurate, direct and continuous measurement of device location with no adverse effect from line of sight limitations and without introducing electrical signals or radiation into the body.
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