Stereotaxis and Philips Extend Development Collaboration to Interface Latest Systems
January 26 2016 - 9:00AM
Stereotaxis, Inc. (NASDAQ:STXS) today announced Stereotaxis and
Philips have signed an addendum pursuant to their existing
Development and Cooperation Agreement to facilitate development of
a new interface between each company’s most advanced systems for
electrophysiology (EP) and interventional cardiology procedures.
The new interface will enable interoperability of Stereotaxis’
Niobe® ES remote magnetic navigation system with the latest version
of Philips’ cardiovascular X-ray system, Allura Xper FD10*. This
new interface is expected to be available in major global markets
in 2016.
“The new interface between our Niobe ES system and the latest
generation cardiovascular X-ray system from one of the imaging
industry’s leaders will be a powerful combination of products for
our customers,” said William C. Mills, Stereotaxis Chief Executive
Officer. “We have been aligned with Philips for more than a decade
in delivering cutting-edge solutions that ensure effective
procedures while optimizing clinician comfort and efficiency in the
cardiac cath lab. Partnering with industry leaders to develop key
enabling solutions has been an integral part of our ongoing
commitment to evolving our magnetic navigation platform for
improved performance.”
“As one of the leading system integrators in image-guided
therapies, we are collaborating with industrial partners to
complement our portfolio of interventional imaging, devices and
navigation solutions,” said Ronald Tabaksblat, Business Leader
Image-Guided Therapy Systems at Philips. “The collaboration with
Stereotaxis broadens our ability to provide our customers with
advanced imaging and navigation solutions for electrophysiology
procedures that are seamlessly integrated into our interventional
labs with the aim to make such procedures more effective and easier
to perform.”
The latest release of the Philips’ Allura Xper FD10 system is a
ceiling-suspended cardiovascular X-ray system widely used for EP
and other cardiac interventions. The system offers rotational scan
capabilities to produce high-resolution, 3D impressions of cardiac
anatomy. It features low dose X-ray, storage and retrieval of
multi-modality cardiology information from a central workstation,
and high quality visualization of the position of catheters in
real-time.
About StereotaxisStereotaxis is a healthcare
technology and innovation leader in the development of robotic
cardiology instrument navigation systems designed to enhance the
treatment of arrhythmias and coronary disease, as well as
information management solutions for the interventional lab. Over
100 issued patents support the Stereotaxis platform, which helps
physicians around the world provide unsurpassed patient care with
robotic precision and safety, improved lab efficiency and
productivity, and enhanced integration of procedural information.
Stereotaxis' core Epoch® Solution includes the Niobe® ES remote
magnetic navigation system, the Odyssey® portfolio of lab
optimization, networking and patient information management
systems, and the Vdrive® robotic navigation system and
consumables.
The core components of Stereotaxis’ systems have received
regulatory clearance in the United States, European Union, Canada,
China, Japan, and elsewhere. The V-Sono™ ICE catheter manipulator,
V-Loop™ variable loop catheter manipulator, and V-CAS™ catheter
advancement system have received clearance in the United States,
Canada, and the European Union. For more information, please visit
www.stereotaxis.com.
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,
Stereotaxis' ability to raise additional capital on a timely basis
and on terms that are acceptable, its ability to continue to manage
expenses and cash burn rate at sustainable levels, its ability to
continue to work with lenders to extend, repay or refinance
indebtedness on acceptable terms, continued acceptance of
Stereotaxis' products in the marketplace, the effect of global
economic conditions on the ability and willingness of customers to
purchase its systems and the timing of such purchases, competitive
factors, changes resulting from the recently enacted healthcare
reform in the U.S., including changes in government reimbursement
procedures, dependence upon third-party vendors, timing of
regulatory approvals, and other risks discussed in Stereotaxis'
periodic and other filings with the Securities and Exchange
Commission. By making these forward-looking statements, Stereotaxis
undertakes no obligation to update these statements for revisions
or changes after the date of this release. There can be no
assurance that Stereotaxis 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 Stereotaxis'
control. In addition, these orders and commitments may be revised,
modified, delayed or canceled, either by their express terms, as a
result of negotiations, or by overall project changes or
delays.
* The Philips Allura Xper FD10 version R8.2 system
STXS Company Contact:
Martin Stammer
Chief Financial Officer
314-678-6155