FOXBOROUGH, Mass.--(BUSINESS WIRE)--Cyberkinetics Neurotechnology Systems, Inc. (OTCBB:CYKN; Cyberkinetics), a medical device company focused on developing novel implantable products to treat neurological diseases and injuries of the nervous system, has formed a strategic alliance with NeuroMetrix, Inc. (Nasdaq: NURO; NeuroMetrix), a leader in the development of innovative neurological diagnostic and therapeutic products. As part of this strategic relationship, NeuroMetrix has made an investment of $2.5 million in Cyberkinetics’ common stock. Cyberkinetics and NeuroMetrix have also agreed to negotiate a joint venture to develop and commercialize a therapeutic product for peripheral nerve injury based on Cyberkinetics’ Andara™ Oscillating Field Stimulator (OFS™) neurostimulation technology platform.
