ST. LOUIS, Sept. 20 /PRNewswire/ -- Stereotaxis, Inc. (Nasdaq: STXS) today announced that the U.S. Patent and Trademark Office granted the Company its 100th patent, a major intellectual property milestone. The 100th patent, U.S. patent No. 7,772,950, covers the “Method and Apparatus for Dynamic Magnetic Field Control Using Multiple Magnets.” The 100th patent reflects Stereotaxis’ ongoing commitment to innovate and protect its leading position in robotic solutions for interventional medicine.
“Our 100th patent represents a significant milestone in Stereotaxis’ drive to protect shareholder value and deliver innovative technologies that improve treatment options for patients with cardiovascular disease,” said Michael P. Kaminski, President and Chief Executive Officer. “Our strong intellectual property position enables the delivery of measurable clinical benefits across the broadest range of cardiovascular, neurovascular, peripheral vascular and other interventional applications, including treatment of ventricular tachycardia with high levels of acute success.”
For more than 15 years, Stereotaxis has built a robust intellectual property portfolio, which includes these 100 issued patents and over 100 additional patent applications in process for approval. Stereotaxis’ extensive U.S. patent portfolio is supplemented by more than 30 non-U.S. patents and patent applications. The Company anticipates doubling the number of non-U.S. patents in the next few months as patents issue on its Niobe® Magnetic Navigation System. The patents issued to date include remote/robotic assisted cardiology procedures, diagnostic integration, therapeutic devices, software automation, and information technology for patient/case management.
For the past two years, Stereotaxis ranked in the top 10 of IEEE Spectrum’s Patent Power Scorecard, a rating of the world’s most valuable patent portfolios. Many of Stereotaxis’ 100 U.S. patents have been the basis for new product solutions, while others have been strategically leveraged in alliances with global giants in the area of cardiology.
About Stereotaxis
Stereotaxis designs, manufactures and markets an advanced cardiology instrument control system for use in a hospital’s interventional surgical suite to enhance the treatment of arrhythmias and coronary artery disease. The Stereotaxis system is designed to enable physicians to complete more complex interventional procedures by providing image guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites. This is achieved using computer-controlled, externally applied magnetic fields that govern the motion of the working tip of the catheter or guidewire, resulting in improved navigation, shorter procedure time and reduced x-ray exposure. The unparalleled clinical capability of Stereotaxis has driven more than 130 hospitals to adopt magnetic navigation for a growing number of complex ablation cases in all four chambers of the heart. Stereotaxis technology is now installed and used by 9 out of the Top 10 Best U.S. Heart Hospitals as ranked by U.S. News and World Report, and more than one third of the EP academic training centers in the United States have included Stereotaxis into their arrhythmia treatment laboratories. The core components of the Stereotaxis system have received regulatory clearance in the U.S., Europe, Canada and elsewhere.
About Odyssey
The Odyssey portfolio of products provides an innovative enterprise solution for integrating, recording and networking interventional lab information around the world. Odyssey Vision standardizes data integration for magnetic and standard interventional labs by enhancing the physician workflow through a consolidated display of multiple systems and eliminating the challenge of interacting simultaneously with many separate diagnostic systems. Odyssey Enterprise Cinema then captures a complete record of synchronized procedure data that can be viewed live or from a comprehensive archive of cases performed. Through its proprietary data compression technology, Cinema enables sharing of live and recorded procedure data via a laptop anywhere over a secure high speed Internet connection. Hospitals can also share procedures with other institutions using Odyssey Network Connect providing a global forum for defining clinical best practices across a broad spectrum of medical procedures.
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance for the Company’s products in the marketplace, the effect of global credit and economic conditions on the ability and willingness of customers to purchase our systems, competitive factors, changes in government reimbursement procedures, dependence upon third-party vendors, timing of regulatory approval and return of the irrigated catheter to the market, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company’s control. In addition, these orders and commitments may be revised, modified or canceled, either by their express terms, as a result of negotiations, or by project changes or delays.
SOURCE Stereotaxis, Inc.
