Luna Innovations Signs Multi-Year Development and Supply Agreement with Intuitive Surgical
14 Junho 2007 - 10:21AM
Business Wire
Luna Innovations Incorporated (NASDAQ:LUNA) announced today that it
has entered into an IP licensing, development, and supply agreement
with Intuitive Surgical, Inc. (NASDAQ: ISRG), the global technology
leader in robotic-assisted minimally invasive surgery (MIS). Under
the terms of the multi-year agreement, Luna will develop and supply
its fiber optic-based shape sensing and position tracking system
for integration into Intuitive Surgical�s products, which includes
the da Vinci� Surgical System. �This agreement with Intuitive
Surgical expands our presence within the medical devices market and
further demonstrates the strength of our business model focused on
the commercialization of our proprietary technologies and
intellectual property. Our technology, partnered with the world
leader in medical robotics, will help surgeons precisely guide and
control surgical tools during robotically assisted procedures,�
stated Kent Murphy, Luna�s Chairman and Chief Executive Officer.
�It�s truly rewarding to know that Luna�s technology will be
assisting in complex minimally invasive surgery helping to ensure
the best outcome for patients.� �We view Luna as the clear
technology leader in the area of advanced shape sensing and
position tracking systems� said Gary Guthart, Intuitive�s Chief
Operating Officer. �We look forward to working closely with Luna on
the integration of our two technologies.� Luna�s shape sensing and
position tracking system promises to provide real-time position
measurements to help surgeons navigate through the body. The system
consists of software, instrumentation and disposable optical
sensing fiber. Luna�s technology, originally developed at NASA and
recognized as having use in medical applications since early 2005,
is unique and designed to provide the user with an accurate, direct
and continuous measurement of device location with no adverse
effect from line of sight limitations and without introducing
electrical signals or radiation into the body. About Luna
Innovations: Luna Innovations Incorporated develops and
manufactures new-generation products for the healthcare,
telecommunications, energy and defense markets. Luna�s products are
used to measure, monitor, protect, and improve critical processes
in the markets they serve. Through its disciplined
commercialization business model, Luna has become a recognized
leader in transitioning science to solutions. Luna is headquartered
in Roanoke, Virginia. Forward Looking Statements: This release
includes information that constitutes �forward-looking statements�
made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995, including statements
regarding (i) whether Luna will successfully develop and supply its
fiber optic-based position tracking system for integration into the
next generation of Intuitive Surgical�s MIS products, and (ii)
whether Luna�s technology will allow surgeons to precisely guide
and control surgical tools during robotically assisted procedures.
Actual results may differ materially from the expectations
expressed in such forward-looking statements as a result of various
factors, including (a) the scope and strength of Luna�s
intellectual property underlying Luna�s technology that supports
the Supply and Development Agreement, (b) Luna�s ability to perform
its obligations under the Supply and Development Agreement, (c) the
extent to which Intuitive Surgical utilizes Luna�s services under
the Supply and Development Agreement, and (d) other underlying
risks and uncertainties set forth in the company�s periodic reports
and other filings with the Securities and Exchange Commission. Such
filings are available at the SEC�s website at http://www.sec.gov,
and at the company�s website at http://www.lunainnovations.com. The
statements made in this release are based on information available
to the company as of the date of this release and Luna Innovations
undertakes no obligation to update any of the forward-looking
statements after the date of this release.
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