ST. LOUIS, Sept. 1, 2015 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (NASDAQ:STXS), a global leader in innovative technologies for the treatment of cardiac arrhythmias, today announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 9,111,016 to the Company entitled "Management of Live Remote Medical Display." This patent allows for the future development of features within the Odyssey® Information Management Solution that optimize data transmission across a network to a high-resolution display facilitating the management of medical procedures.
"We are pleased to receive this strategic patent, which could variously be applied to data generated when performing many different types of procedures within hospitals," said William C. Mills, Stereotaxis Chief Executive Officer. "As the amount of high-resolution video, imaging, and graphics being transmitted across hospital networks continues to grow, the ability to optimize and manage bandwidth usage becomes increasingly important. The award of this patent further builds on our extensive intellectual property portfolio of more than 100 issued patents that protects our existing technology and future enhancements and extensions of our innovative solutions for the interventional lab workplace. We continue to expand this valuable portfolio as we develop novel methods for medical information management and the treatment of cardiac arrhythmias."
The Company's Odyssey solution product line is used in conjunction with its Niobe® remote magnetic navigation system, the only commercialized technology proven to precisely steer a cardiac catheter tip using computer-controlled, externally applied magnetic fields. The Odyssey Vision™ and Odyssey Cinema™ systems, provide a consolidated user interface of all lab information during procedures performed using the Niobe system, as well as real-time or recorded viewing of procedures across networks and institutions.
Stereotaxis 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 U.S., 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 U.S., 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 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 U.S., 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.
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