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MRI Interventions and Monteris Medical Announce Collaboration to Develop Next-Generation Head Fixation Frames for Laser Ablation Neurosurgery
IRVINE, Calif., Oct. 12, 2018 (GLOBE NEWSWIRE) -- MRI Interventions, Inc. (OTCQB:MRIC) and Monteris Medical, Inc. today announced a collaborative co-development agreement to provide a next-generation head fixation frame for use in laser ablation neurosurgery. Under terms of the agreement, Monteris will provide a license to intellectual property (IP) and technical development to MRI Interventions, who will in turn develop a joint product including MRI Interventions’ design concepts and IP. MRI Interventions will also support Monteris with respect to FDA filings. Both companies will market and sell the new head fixation frame to current and future customers; the product will be compatible with the AtamA® Patient Transfer and Head Stabilization System.
“An important part of our four-pillar growth strategy is to partner with other device, biologics and drug companies to provide the best products and workflow possible to enable life-saving and life-altering therapies,” commented Chris Osswald, Portfolio Manager at MRI Interventions. “While precision, accuracy and quality are essential to delivering the best possible outcomes for our patients, efficiency, procedure time and cost is crucial for our hospital customers. By partnering with Monteris on this next-generation head fixation frame project, we believe we can improve the overall patient experience, as well as workflow and time of procedure, helping hospitals to make the most of their time both in the operating room and in the MRI suite. In this case, two companies are better than one, and together we believe we can make a better product than we could individually.”
About MRI Interventions, Inc.
Building on the power of magnetic resonance imaging (“MRI”), MRI Interventions is creating innovative platforms for performing the next generation of minimally invasive surgical procedures in the brain. The ClearPoint Neuro Navigation System, which has received 510(k) clearance and is CE marked, utilizes a hospital’s existing diagnostic or intraoperative MRI suite to enable a range of minimally invasive procedures in the brain. For more information, please visit www.mriinterventions.com.
About Monteris Medical, Inc.
Monteris Medical is a privately held company that develops and markets innovative MRI-guided, laser-based systems for the ablation of brain lesions. Current investors include Versant Ventures, SightLine Partners, Birchview Capital and BDC Capital. The Monteris NeuroBlate® System is the only minimally invasive cranial access system that enables a robotic interface for the precise and safe delivery of laser energy. The NeuroBlate® System is a tool and is not intended to treat any specific disease. Physicians should use their clinical judgment and experience when deciding whether to use NeuroBlate®.
Statements herein concerning MRI Interventions, Inc.’s plans, growth and strategies may include forward-looking statements within the context of the federal securities laws. Statements regarding the company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Uncertainties and risks may cause the company's actual results to differ materially from those expressed in or implied by forward-looking statements. Particular uncertainties and risks include those relating to: the Company’s ability to obtain additional financing; estimates regarding the sufficiency of the Company’s cash resources; future revenues from sales of the company’s ClearPoint Neuro Navigation System products; and the company’s ability to market, commercialize and achieve broader market acceptance for the company’s ClearPoint Neuro Navigation System products. More detailed information on these and additional factors that could affect the company’s actual results are described in the “Risk Factors” section of the company’s Annual Report on Form 10-K for the year ended December 31, 2017, and its Quarterly Report on Form 10-Q for the three months ended June 30, 2018, both of which have been filed with the Securities and Exchange Commission.
Matt Kreps, Darrow Associates Investor Relations