In October 2009, Cyberonics had licensed NeuroVista technology related to a seizure detection algorithm, a rechargeable battery system, wireless communication, and an implantable lead.
Additionally, in July 2010, Cyberonics had entered into additional agreements with NeuroVista, licensing technology related to an external charging system for an implanted battery and agreeing to invest $5.0m in the form of a convertible note.
Cyberonics president and chief executive officer Dan Moore said that their technology collaborations with NeuroVista over the past year have proved to be very productive and expect that this additional collaboration will further accelerate our technology development program, while the investment will enable NeuroVista to pursue its clinical studies involving the NeuroVista Seizure Advisory System.
“Combining our NeuroVista technology collaborations with our research and development commitments in cardiac-based seizure detection provides a unique, broad-based approach to developing devices capable of detecting seizures in patients with epilepsy,” Moore said.
“We are excited that another leader in the field of devices for epilepsy has chosen to join us in helping to improve the lives of patients with epilepsy.”
