SACRAMENTO, Calif., Sept. 16 /PRNewswire/ -- Novatrix Biomedical, Inc. announced today that it has formed a new company, Curexo Medical, Inc. (CMI), with the acquisition of all assets of Integrated Surgical Systems, Inc. (ISS) Under the licensing agreement, Curexo, Inc., will transfer all the assets acquired from ISS to CMI.
Curexo Medical, Inc., located in Sacramento, California, retained the former officers and employees of ISS in order to facilitate rapid introduction of its surgical robotics system into the U.S. orthopedic market. The system is called ROBODOC(R) Surgical Assistant System (the ROBODOC). The ROBODOC has been very well received by hospitals and orthopedic surgeons from both academic institutions and private hospitals in Europe and Asia, including Japan, Korea and India. The system has already been approved by Korea's regulatory agency, KFDA.
"CMI's mission is to make computer assisted surgery a gold standard for all major orthopedic surgeries by the year 2012 and to be the world leader in this market segment," said Dr. Ramesh Trivedi, President and CEO.
"We have already received funding from Novatrix and have been assured of future funding to accomplish our goals," said Trivedi. "We are actively recruiting highly qualified and experienced staff to rapidly grow the business."
Novatrix Biomedical, Inc., based in Southern California, develops proprietary technologies in the drug delivery field. "We firmly believe that CMI has the right strategy, a well thought out plan and a highly experienced team in place to be a dominant player in the orthopedic surgical robotics field," said Dr. Soon Kap Hahn, President and CEO of Novatrix Biomedical.
"Along with our partner, Curexo Inc., Korea, we are committed to fund CMI to secure U.S. Food and Drug Administration (FDA) clearance, enter the U.S. market and continue building the ongoing business in other major markets of the world."
Curexo Medical, Inc. also announced that it has submitted a 510(k) pre-market notification to the U.S. FDA for the clearance of its ROBODOC Surgical Assistance System for marketing in the U.S. A 90-day period is customary for FDA review of a 510(k) submission.
Contact: Media Contact
Dr. Ramesh C. Trivedi Tami Adachi
President & CEO 415-370-9638
Curexo Medical, Inc. firstname.lastname@example.org
CONTACT: Dr. Ramesh C. Trivedi, President & CEO of Curexo Medical, Inc.,+1-916-285-9943, ext. 511; or media, Tami Adachi, +1-415-370-9638,email@example.com