HOUSTON, June 11, 2012 /PRNewswire/ -- Cyberonics, Inc. (NASDAQ:CYBX) today announced that it has entered into an exclusive technology license agreement with Imricor Medical Systems, Inc. to develop Magnetic Resonance Imaging ("MRI") compatible leads for use with the VNS Therapy® System (Vagus Nerve Stimulation). Imricor Medical Systems, based in Burnsville, Minnesota, is developing innovative MRI electrophysiology tools and has developed the world's only ablation catheter that is designed for use with MRI systems in EP procedures - the Vision™ catheter*.
"This collaboration with Imricor Medical Systems builds on our expanded MRI labeling approved by the U.S. Food and Drug Administration in October 2011 and further demonstrates our commitment to innovative technology for patients receiving VNS Therapy," said Dan Moore, Cyberonics' President and Chief Executive Officer. "The management team at Imricor has extensive experience and expertise in this important area, and we look forward to bringing their novel MRI compatibility technology to VNS Therapy patients."
"Imricor's primary focus continues to be the development of products that enable MR-guided cardiac ablation procedures," said Steve Wedan, Imricor's President and Chief Executive Officer. "However, we recognize that many patients will benefit from the availability of MRI-compatible implanted devices, as well, and we are very excited to collaborate with Cyberonics to realize the goal of MRI compatibility for patients receiving VNS Therapy."
*The Vision catheter is an investigational device and not approved for sale in the U.S. or other countries.About Cyberonics, Inc. and the VNS Therapy System Cyberonics, Inc. is a medical technology company with core expertise in neuromodulation. The company developed and markets the VNS Therapy System, which is FDA-approved for the treatment of refractory epilepsy and treatment-resistant depression. The VNS Therapy System uses an implanted medical device that delivers pulsed electrical signals to the vagus nerve. Cyberonics markets the VNS Therapy System in selected markets worldwide.