Cyberkinetics Neurotechnology Systems, Inc. Agrees To Acquire Andara Life Science, Inc.
2/15/2006 12:09:07 PM
FOXBOROUGH, Mass. & INDIANAPOLIS--(BUSINESS WIRE)--Feb. 15, 2006--Cyberkinetics Neurotechnology Systems, Inc. (OTCBB: CYKN; "Cyberkinetics") today announced that the Company has agreed to acquire, through a merger with a wholly owned subsidiary of Cyberkinetics, Andara Life Science, Inc. ("Andara"). Andara is a privately held Indiana company engaged in the development of a portfolio of programs related to the repair and regeneration of neural tissues, which were developed at the Center for Paralysis Research at Purdue University. Cyberkinetics expects to submit an application for approval of Andara's lead product, the Andara Oscillating Field Stimulator(TM) ("Andara OFS Device") in 2006 under a Humanitarian Device Exemption based on a recently completed 10-participant clinical trial for those with acute spinal cord injury and preclinical studies that demonstrated the device's ability to stimulate regeneration of nerve fibers in the spinal cord.
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