Boston Scientific and SurgiVision Announce Licensing Agreement
Emerging technology will potentially enable access to MRI exams for implantable cardiac device patients
NATICK, Mass. and BALTIMORE
April 15, 2008
NATICK, Mass. and BALTIMORE, April 15 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) and SurgiVision, Inc., a privately held company, today announced a licensing and development arrangement for magnetic resonance imaging (MRI)-safe technology. Physician implanters have consistently mentioned MRI-safe cardiac devices as a primary unmet clinical need. Under the arrangement, Boston Scientific will gain access to SurgiVision's development capabilities and will obtain a license to SurgiVision's intellectual property for potential use in its implantable cardiac devices. The two companies will work jointly to develop a commercial application of SurgiVision's technology.
"SurgiVision is thrilled to have entered into this agreement with Boston Scientific as it represents a tremendous opportunity for both companies," said Kimble Jenkins, Chief Executive Officer of SurgiVision. "Our company is a leader in the development of MRI-safe technologies, and we look forward to applying our expertise to the field of cardiac rhythm management devices with Boston Scientific."
"This agreement with SurgiVision is consistent with our vision of providing physicians with the highest quality products for their patients," said Fred Colen, Executive Vice President, Operations and Technology, Boston Scientific Cardiac Rhythm Management. "SurgiVision's technology, when combined with our history of innovation, should move development of MRI-safe cardiac devices closer to reality."
Boston Scientific and SurgiVision entered into a separate licensing and development agreement, in the area of neuromodulation, in December 2005.
About Boston Scientific
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com/.
SurgiVision is a leading developer of next-generation MRI technologies, focused on MRI-safety and MRI-guided therapeutic interventions for neuromodulation, cardiac EP and localized delivery of cell/drug therapies. For more information, please visit: http://www.surgivisioninc.com/.
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SOURCE: Boston Scientific Corporation
CONTACT: Media, Paul Donovan, +1-508-650-8541 (office) or +1-508-667-5165 (mobile), or Investors, Larry Neumann, +1-508-650-8696 (office), both of Boston Scientific Corporation; Kimble Jenkins of Surgi-Vision, Inc., +1-901-531-3236