NeuroVista Completes Convertible Debt Agreement and
Second Technology License with Cyberonics
Seattle, WA—August 18, 2010—NeuroVista Corporation, a developer of innovative
medical technologies for the management and treatment of epilepsy, today
announced it has completed a $5 million convertible debt agreement with
Cyberonics, Inc. In addition, NeuroVista has entered into a second License
Agreement with Cyberonics, following up on a successful initial License
Agreement between the two companies in October 2009. The second License
Agreement provides Cyberonics with additional technology related to recharging
systems for implantable devices.
“We are excited about the opportunity to broaden our relationship with a pioneer
and leader in the field of epilepsy, and to assist Cyberonics in its continued
innovation for the VNS Therapy System,” said John F. Harris, President and Chief
Executive Officer of NeuroVista.
“The NeuroVista and Cyberonics teams have had very productive and harmonious
collaborations over the past year,” said Dan Moore, President and Chief
Executive Officer of Cyberonics. “We will continue to explore opportunities for
creating value as NeuroVista pursues its clinical studies of the NeuroVista®
Seizure Advisory System™.”
About Cyberonics, Inc. and VNS Therapy®
Cyberonics, Inc. (NASDAQ: CYBX) is a medical technology company with core
expertise in neuromodulation. The company developed and markets the Vagus Nerve
Stimulation (VNS) Therapy System, which is FDA-approved for the treatment of
refractory epilepsy and treatment-resistant depression. The VNS Therapy System
uses a surgically implanted medical device that delivers electrical pulsed
signals to the vagus nerve. Cyberonics markets the VNS Therapy System in
selected markets worldwide. Additional information on Cyberonics and VNS Therapy
is available at
www.cyberonics.com.
About NeuroVista
NeuroVista is clinical stage medical device company pioneering new technologies
that will revolutionize the management and treatment of epilepsy. Epilepsy is a
neurological condition affecting approximately 1% of the U.S. population—more
than Parkinson’s disease, multiple sclerosis, and Lou Gehrig’s disease combined.
NeuroVista is a privately held company based in Seattle. For more information
visit www.neurovista.com.
