LANGHORNE, Pa., June 2, 2009 (GLOBE NEWSWIRE) -- Power Medical Interventions(r), Inc. (OTCBB:PMII), a leader in developing and commercializing Intelligent Surgical Instruments(tm), announced today that Intuitive Surgical, Inc. has elected to exercise its right to receive an irrevocable license to certain Power Medical Intervention (PMI) intellectual property in exchange for an accelerated aggregate milestone payment of $5 million. The payment to PMI was made in connection with the License and Development Agreement signed with Intuitive in September 2008. As provided under terms of the agreement, Intuitive has the right to receive an irrevocable license by accelerating payment of remaining milestones. With this latest payment, PMI has received a total of $20 million under its agreement with Intuitive.
