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|Stereotaxis and Osypka Enter Strategic Collaboration to Advance Robotic Catheter Technology|
ST. LOUIS and RHEINFELDEN, Germany,
The next-generation magnetic ablation catheter is being developed with three primary design considerations: improving the capabilities and performance of the radiofrequency ablation tip, improving the quantity and placement of magnetic material in the catheter to improve navigation efficiency, and ensuring an open ecosystem design that can accommodate use within various mapping environments. Initial early prototypes of the catheter have been developed, and clinical use and commercial launch in select geographies is possible in 2020.
Osypka is a pioneer in the field of interventional electrophysiology with the first arrhythmia patient treated by radiofrequency ablation in 1986 benefiting from Osypka's early ablation catheter and generator technology. Osypka has significant expertise and robust facilities dedicated to electrophysiology catheter design and manufacturing. Osypka has a proprietary electrophysiology product portfolio that includes diagnostic catheters, manual ablation catheters, and an advanced radiofrequency generator. Additional terms of the business agreement were not disclosed.
"Stereotaxis is delighted to be partnered with Osypka. We have been impressed with Osypka's expertise and capabilities, as well as with their commitment to high quality products that improve patient care," said David Fischel. "Stereotaxis remains committed to advancing robotic technology in electrophysiology. This collaboration leverages the highly complementary strengths of both firms. It promises to dramatically improve our clinical impact in electrophysiology and opens attractive potential options as we advance our strategic vision. We look forward to working with Osypka to advance patient care and the physician experience in electrophysiology."
"Osypka is excited to collaborate with Stereotaxis. This collaboration leverages our extensive experience and capabilities in catheter technology and electrophysiology. It allows Osypka technology to have an expanded impact on the treatment of arrhythmias," said Nicola Osypka and Achim Kitschmann, co-CEOs of Osypka. "We have observed the substantial clinical benefits of Stereotaxis' robotic technology and the committed physician community that supports Stereotaxis' success. We understand Stereotaxis' strategy and vision for the future. We are excited to join hands to advance that vision for the betterment of patients, physicians and the electrophysiology field."
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 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
Martin C. Stammer