MRI Interventions Announces Joint Development Agreement With Mayo Clinic for Development of MRI-Guided Stroke Therapies
IRVINE, Calif., April 20, 2017 (GLOBE NEWSWIRE) -- MRI Interventions, Inc. (OTCQB:MRIC) today announced it has signed a joint development agreement with Mayo Clinic to design, develop and commercialize MRI-guided, minimally invasive therapies for stroke. Stroke is the fifth leading cause of death in the United States, and the leading cause of permanent disability among Americans. The initial focus of the collaboration is the development and commercialization of a novel, MRI-guided product for the treatment of intra cerebral hemorrhage (“ICH”).
ICH is a type of stroke caused by bleeding deep within the brain. It is considered the deadliest class of stroke due to accumulation of blood and clot in the brain, resulting in compression of adjacent brain tissue and toxicity to brain cells surrounding the damaged area. ICH occurs in 80,000-100,000 Americans annually, and is fatal in 30 to 50% of all occurrences. ICH is the only major stroke subtype without a clearly effective treatment and represents one of the greatest unmet clinical needs in acute stroke care.
The initial product offering will build directly on MRI Interventions’ groundbreaking ClearPoint® Neuro Navigation System. “We believe the unparalleled intraprocedural visualization capabilities enabled by the ClearPoint System provide a unique and powerful foundation for breakthrough minimally invasive therapies to treat ICH,” said Frank Grillo, CEO of MRI Interventions. “We are thrilled to be working with Dr. Bernard Bendok and his team at Mayo Clinic in Arizona to develop new options for patients with these debilitating strokes.”
Mayo Clinic has a financial interest in the technology referenced in this news release. Mayo Clinic will use any revenue it receives to support its not-for-profit mission in patient care, education and research.
About MRI Interventions, Inc.
Building on the imaging 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 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.
Statements herein concerning MRI Interventions, Inc. (the “Company”) 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 System products; and the Company’s ability to market, commercialize and achieve broader market acceptance for the Company’s ClearPoint 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, 2016, which has been filed with the Securities and Exchange Commission.
Contact: Wendelin Maners, VP, Sales and Marketing MRI Interventions, Inc. 949-900-6833