MRI Interventions, Inc. (OTCBB: MRIC) today announced the issuance of U.S. Patent No. 8,175,677, which further bolsters MRI Interventions’ position as a leader in the market for MRI-guided medical procedures. With the new patent, the company’s patent estate now includes 66 issued patents and over 100 pending patent applications, both United States and foreign. The company’s patents and pending applications cover, among other technologies, reusable hardware components, disposable components and integrated software that work in conjunction with magnetic resonance imaging (MRI) to guide the delivery of various therapies to the brain.
“MRI Interventions is at the forefront of MRI-guided medical procedures. The new patent is an important addition to our substantial patent portfolio in this growing field,” stated Kimble Jenkins, CEO of MRI Interventions.
The new patent relates to the company’s SmartFrame® device, an MRI-compatible adjustable trajectory frame that is an integral component of the company’s ClearPoint® Neuro Intervention System. The ClearPoint System represents a technological advancement in neurosurgery by allowing surgeons for the first time to see inside the brain during procedures using MRI. The SmartFrame works in conjunction with the ClearPoint software and serves as an MRI-visible guide to facilitate the precision delivery of devices to locations in the brain during minimally invasive surgical procedures.
The SmartFrame device and the ClearPoint System are in commercial use and have been utilized in a variety of neurological procedures, including placement of electrodes and insertion of biopsy needles, focal ablation devices, and injection catheters for the delivery of drugs.About MRI Interventions, Inc. Founded in 1998, MRI Interventions, Inc. is creating innovative platforms for performing the next generation of minimally invasive surgical procedures in the brain and heart. Utilizing a hospital's existing MRI suite, the company's FDA-cleared ClearPoint ® system is designed to enable a range of minimally invasive procedures in the brain. In partnership with Siemens Healthcare, MRI Interventions is developing the ClearTrace ™ system to enable MRI-guided catheter ablations to treat cardiac arrhythmias, including atrial fibrillation. Building on the imaging power of MRI, the company's interventional platforms strive to improve patient care while reducing procedure costs and times. MRI Interventions is also working with Boston Scientific Corporation to incorporate its MRI-safety technologies into Boston Scientific's implantable leads for cardiac and neurological applications. For more information, please visit www.MRIinterventions.com. Forward-Looking Statements Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements often can be identified by words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would," or the negative of these words or other words of similar meaning. Forward-looking statements by their nature address matters that, to different degrees, are uncertain and involve risk. Uncertainties and risks may cause MRI Interventions' actual results and the timing of events to differ materially from those expressed in or implied by MRI Interventions' forward-looking statements. For MRI Interventions, particular uncertainties and risks include, among others: demand and market acceptance of its products; its ability to successfully complete the development of, and to obtain regulatory clearance or approval for, future products, including its current product candidates; availability of third party reimbursement; the sufficiency of its cash resources to maintain planned commercialization efforts and research and development programs; future actions of the FDA or any other regulatory body that could impact product development, manufacturing or sale; its ability to protect and enforce its intellectual property rights; its dependence on collaboration partners; the retention of its sales representatives and independent distributor; the impact of competitive products and pricing; and the impact of the commercial and credit environment on it and its customers and suppliers. More detailed information on these and additional factors that could affect MRI Interventions' actual results are described in MRI Interventions' filings with the Securities and Exchange Commission, including, without limitation, the quarterly report on Form 10-Q for the quarterly period ended March 31, 2012. Except as required by law, MRI Interventions undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release to reflect any change in MRI Interventions' expectations or any change in events, conditions or circumstances on which any such statements are based.
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