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|Stereotaxis and Acutus Medical Announce Strategic Collaboration|
ST. LOUIS and CARLSBAD, Calif., May 03, 2018 (GLOBE NEWSWIRE) -- Stereotaxis (OTCQX:STXS), the global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, and Acutus Medical, a global heart rhythm technology company transforming the way electrophysiologists map complex cardiac arrhythmias, announced today a strategic collaboration to integrate the Stereotaxis Niobe® Magnetic Navigation System and the Acutus Medical AcQMap® High Resolution Imaging and Mapping System with the goal of improving patient care and the physician experience in electrophysiology.
"I was very excited to perform the first procedures using these two technologies together. The combination offers a dipole density map which identifies higher resolution conduction patterns and a therapy strategy utilizing Robotic Magnetic Navigation to precisely steer the ablation catheter to safely apply therapy," said Dr. Tamas Szili-Torok of Erasmus Medical Center in Rotterdam. "The procedures went very well, with successful treatment of patients with paroxysmal and persistent atrial fibrillation in a safe and efficient fashion. The promise of robust software integration to further enhance workflow and improve automated navigation is exciting."
The companies have successfully performed extensive testing to demonstrate that the technologies can be used together. As part of the strategic alliance, the companies intend to integrate the technologies to further improve workflow and enhance the ability to provide automated navigation to areas of interest identified by the Acutus mapping system. The AcQMap System uniquely combines ultrasound anatomy reconstruction with an ability to detect and display higher resolution charge source maps of the heart. The maps can be used to identify sites of interest in complex arrhythmias that can be targeted for ablation. The Stereotaxis Robotic Magnetic Navigation System utilizes computer-controlled magnetic fields to precisely direct and steer a cardiac ablation catheter with a magnet at its tip. Magnetically controlling the working tip of the interventional device enables physicians to navigate with precision to identified sites of interest to apply ablation therapy, even in complicated anatomy or difficult-to-reach areas of the heart.
"Stereotaxis and Acutus are delighted to be working together to provide electrophysiologists and patients access to a highly innovative and differentiated mapping system while using robotic magnetic navigation technology," said David Fischel, Chairman and CEO of Stereotaxis and Vince Burgess, Chairman, President and CEO, of Acutus Medical. "Interoperability between the systems endeavors to improve procedure workflow and allow physicians and patients to seamlessly receive the benefits of both world class systems through our mutual collaboration."
About Acutus Medical
This press release includes statements that may constitute "forward-looking" statements by Stereotaxis (the Company), 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 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, or to obtain additional financing, in either case 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 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.