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|Intuitive Surgical and Hansen Medical to Cross-License Robotic Technologies|
SUNNYVALE, CA, Sep 07, 2005 (MARKET WIRE via COMTEX News Network) -- Intuitive Surgical, Inc. (NASDAQ: ISRG), the global leader in robotic-assisted, minimally invasive surgery, announced today that it has entered into a cross-licensing agreement with Hansen Medical, Inc., a privately held medical device company specializing in robotic catheter technology.
Under the cross-licensing agreement, Hansen Medical has the right to apply Intuitive Surgical's patent portfolio in the field of intravascular approaches for the diagnosis or treatment of cardiovascular, neurovascular and peripheral vascular diseases. In exchange, Intuitive Surgical received the right to apply Hansen Medical's patent portfolio in the fields of endoscopic, laparoscopic, thoracoscopic or open surgery, and in endoluminal applications in gastrointenstinal, respiratory, ENT, urologic and gynecologic surgery; royalties on future Hansen Medical product sales; and equity in Hansen Medical. Each party retains full rights to practice its own technology for all purposes.
"With this agreement we have expanded our intellectual property portfolio, allowing us to extend our technology platforms into new and emerging markets," said Lonnie Smith, Chairman and CEO of Intuitive Surgical.
Specific financial terms of the agreement were not disclosed.
About Intuitive Surgical, Inc.
Intuitive Surgical, Inc., headquartered in Sunnyvale, California, is the global technology leader in the rapidly emerging field of robotic-assisted, minimally invasive surgery (MIS). Intuitive Surgical develops, manufactures and markets robotic technologies designed to improve clinical outcomes and help patients return more quickly to active and productive lives. The company's mission is to extend the benefits of minimally invasive surgery to the broadest possible base of patients. More information is available at www.intuitivesurgical.com and www.davinciprostatectomy.com. Intuitive Surgical -- Taking surgical precision beyond the limits of the human hand.(TM)
About Hansen Medical, Inc.
Hansen Medical, based in Mountain View, California, was founded in 2002 to develop technology for the accurate and efficient control of catheter movement in 3D spaces during therapeutic procedures. Unveiled at the Heart Rhythm Society's 26th Annual Scientific Sessions in May of 2005, the Hansen Catheter Control System (CCS) includes a robotic catheter manipulator which responds instinctively to commands input to a workstation by a physician. This technology is designed to allow the physician to precisely place the catheter tip in hard-to-reach anatomical locations and maintain its stability during treatment of complex cardiac arrhythmias, such as atrial fibrillation, a major cause of embolic stroke and severe long-term disability. The Hansen Medical CCS system requires regulatory clearance and is not yet commercially available. Additional information can be found at www.hansenmedical.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any forward-looking statement is subject to risks and uncertainties such as those described in Intuitive Surgical's latest Annual Report. Actual results may differ materially from the anticipated results described. Intuitive Surgical undertakes no obligation to publicly update or revise these forward-looking statements to reflect actual events or circumstances that occur after the date of this press release.
Intuitive(R), da Vinci(R), InSite(R) and EndoWrist(R) are registered trademarks of Intuitive Surgical, Inc.
SOURCE: Intuitive Surgical