FREMONT and NEWARK, Calif., May 12 /PRNewswire-FirstCall/ -- Curon Medical, Inc. and Novasys Medical, Inc. today jointly announced that they entered into an agreement for a worldwide, exclusive license of certain patents for which Novasys Medical is paying $650,000 in cash. With this agreement, Novasys Medical has secured the rights to use certain intellectual property of Curon Medical for the treatment of Urinary Incontinence and other genito-urinary conditions in men and women.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050318/CURONLOGO )
Larry C. Heaton II, President and Chief Executive Officer of Curon Medical, commented “We are pleased to announce this mutually beneficial transaction with Novasys Medical. The intellectual property involved is complementary to Novasys Medical’s IP portfolio and can now be accessed freely by them to support their primary mission of improving the lives of women with Stress Urinary Incontinence (SUI) and other conditions. As the IP involved is unrelated to Curon’s core business, this transaction will have no adverse impact on our applications of radiofrequency energy for the treatment of Gastroesophageal Reflux Disease (GERD) or Bowel Incontinence.
Debra Reisenthel, President and Chief Executive Officer of Novasys Medical, commented “With the recent successful launch of our Renessa(TM) System for the treatment of Stress Urinary Incontinence in women, we are looking to future development opportunities as well. The IP we have licensed from Curon will assist us in expanding the potential applications for our core technology for the treatment of various genito-urinary conditions in both women and men.”
About Curon Medical, Inc.
Curon Medical develops, manufactures and markets innovative proprietary products for the treatment of gastrointestinal disorders. The Company’s products and products under development consist of radiofrequency generators and single use disposable devices. Its first product, the Stretta System, received U.S. Food and Drug Administration clearance in April 2000 for the treatment of gastroesophageal reflux disease, commonly referred to as GERD. The Company’s Secca System for the treatment of bowel incontinence received clearance from the FDA in March 2002. For more information on the Company or its products, please visit the Company’s website at http://www.curonmedical.com.
About Novasys Medical, Inc.
Novasys Medical, Inc. is a privately-held, venture-backed company which develops innovative therapies in women’s health. The company’s initial focus is the development and commercialization of the Renessa(TM) System, a proprietary, non-surgical approach to the treatment of female stress urinary incontinence (SUI). The Renessa treatment can be performed in a physician’s office or an outpatient center. SUI is the involuntary leakage of urine associated with laughing, coughing, sneezing, sexual and recreational activities. The condition is caused by a variety of factors, most commonly childbirth, and often restricts the social, professional and personal lives of an estimated 15 million women in the United States alone. For more information, please visit http://www.novasysmedical.com.
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CONTACT: Larry C. Heaton II, President and Chief Executive Officer ofCuron, +1-510-661-1801, lheaton@curonmedical.com; or Debra Reisenthel,President and Chief Executive Officer, or Media Relations: Lauri Campbell,Vice President of Marketing, both of Novasys, +1-510-226-4060; or InvestorRelations: Melody A. Carey, Rx Communications Group, LLC, +1-917-322-2571,mcarey@rxir.com
