University of Chicago Medicine Creating High-Tech Arrhythmia Technology Suite with Stereotaxis Niobe® ES System
July 13 2016 - 9:00AM
Stereotaxis, Inc. (NASDAQ:STXS), a global leader in innovative
technologies for the treatment of cardiac arrhythmias, today
announced that the University of Chicago Medicine will implement
the Company’s Niobe® ES remote magnetic navigation system as part
of its vision to create a cutting-edge arrhythmia technology suite.
The University of Chicago Medicine is one of the nation's leading
academic medical institutions, consistently ranked among the best
hospitals in the nation by U.S. News & World Report. The Center
for Arrhythmia Care at the University of Chicago Medicine, led by
renowned cardiologist Dr. Roderick Tung, director of the cardiac
electrophysiology program, is one of the busiest university-based
heart rhythm programs in the Chicago area.
“The Niobe system is perhaps the most revolutionary
invention in the field of cardiac ablation, enabling remote
anatomic mapping of electrical currents and eradication of
difficult-to-reach arrhythmias with unparalleled safety and
pinpoint precision,” said Tung. “Our acquisition of Stereotaxis’
latest generation remote magnetic navigation platform will enhance
a highly respected electrophysiology (EP) program that is regarded
as a global leader in ablation therapy, research and education,
especially in the treatment of ventricular tachycardia (VT), and
will greatly improve patients’ lives.”
Tung was named director of the EP program at the
University of Chicago Medicine in March 2016 after transferring
from the Cardiac Arrhythmia Center at Ronald Reagan UCLA Medical
Center, where he successfully built the largest VT ablation program
on the West Coast. He performed dozens of procedures with the Niobe
system while at UCLA, 85% of which were for VT ablation (a
particularly complex procedure), citing the system’s ability to
access every area of the left ventricle.
Currently, Tung oversees a team of seven EPs and
has plans to upgrade the lab so that it allows for optimal
observation of procedures for training purposes. The new Niobe ES
system is scheduled to launch on August 1.
The University of Chicago Medicine is participating
in the MAGNETIC VT study, which is analyzing long-term patient
outcomes using the Niobe ES system in VT compared to manual
approaches. Tung is serving as the principal investigator in North
America for this multi-center, prospective clinical study.
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® magnetic
navigation system, the Odyssey® portfolio of lab optimization,
networking and patient information management solutions, 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, the Company's ability to raise additional capital on a
timely basis and on terms that are acceptable, its continued
listing on the NASDAQ Capital Market, 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
the Company's 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 United States, including changes in government
reimbursement procedures, dependence upon third-party vendors,
timing of regulatory approvals, 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, delayed or canceled, either by their express terms, as a
result of negotiations, or by overall project changes or
delays.
Company Contact:
Martin C. Stammer
Chief Financial Officer
314-678-6155
Investor Contact:
Todd Kehrli / Jim Byers
MKR Group, Inc.
323-468-2300
stxs@mkr-group.com