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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV