Medtronic, Inc. (MDT) And NeuroPace, Inc. Cross License Patents For Treating Neurological Disorders; Agreement Fosters Advancements In Detection And Treatment Of Epilepsy
10/19/2005 5:09:05 PM
MINNEAPOLIS--(BUSINESS WIRE)--Aug. 4, 2005--Medtronic, Inc. (NYSE:MDT), today announced that it has entered into a patent cross-licensing agreement with NeuroPace, Inc., a privately held medical device company specializing in the detection, treatment and monitoring of epilepsy and other neurological disorders via responsive brain stimulation. Under the terms of the royalty-bearing, non-exclusive agreement, the two companies cross-licensed patents and patent applications of neurological technology related to direct electrical stimulation or monitoring of the brain. Specific terms of the agreement were not disclosed.
"The agreement allows Medtronic to further develop and expand its innovative portfolio of therapies for patients suffering from neurological disorders, with the most immediate application in sensing and treating refractory epilepsy," said Jon Tremmel, president, Medtronic Neurological. "Epilepsy remains a devastating disorder for patients who don't respond to medications. A closed-loop system that can detect and prevent seizures could greatly change how physicians and patients manage this condition."
comments powered by