Cyberkinetics Neurotechnology Systems, Inc. (OTCBB: CYKN; Cyberkinetics), a medical device company focused on developing novel implantable products to treat neurological diseases and injuries of the central nervous system, announced that the United States Patent and Trademark Office recently issued U.S. patent 7,212,851, entitled "Microstructured Arrays for Cortex Interaction and Related Methods of Manufacture and Use," to Brown University and the Massachusetts Institute of Technology. Cyberkinetics is the exclusive licensee of the patent, which relates to the next generation of Cyberkinetics' BrainGate neural interface technology.
"The claims contained in this patent form the basis for the development of a next-generation system that we envision will combine on-board processing and wireless signal transmission technologies," stated Timothy R. Surgenor, Cyberkinetics' President and Chief Executive Officer. "We believe that such a system will contribute significantly to our efforts to commercialize our BrainGate technology products, including our NeuroPort Neural Monitoring System, which has been designed to detect and predict epileptic seizures."
Cyberkinetics now owns or holds exclusive rights to six issued patents and more than 50 pending patent applications covering systems, methods, devices and compounds for nerve repair, as well as neural interface technologies for diagnostic, therapeutic and functional restoration applications.
About Cyberkinetics Neurotechnology Systems, Inc.
Cyberkinetics Neurotechnology Systems, Inc., a leader in the neurotechnology industry, is developing neural stimulation, sensing and processing technology to improve the lives of those with severe paralysis resulting from spinal cord injuries, neurological disorders and other conditions of the nervous system. Cyberkinetics' product development pipeline includes: the Andara OFS Therapy for acute spinal cord injury, an investigative device designed to stimulate nerve repair and restore sensation and motor function; the BrainGate System, an investigative device designed to provide communication and control of a computer, assistive devices, and, ultimately, limb movement; and a pilot program in the detection and prediction of seizures due to epilepsy. Additional information is available at Cyberkinetics' website at http://www.cyberkineticsinc.com.
Forward-Looking Statements
This announcement contains forward-looking statements, including statements about Cyberkinetics' product development plans and progress, potential development of proprietary inventions and benefits that may be realized by certain research programs. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and can be identified by the use of forward-looking terminology such as "may," "will," "believe," "expect," "anticipate" or other comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements and reported results shall not be considered an indication of our future performance. Factors that might cause or contribute to such differences include our limited operating history; our lack of profits from operations; our ability to successfully develop and commercialize our proposed products; a lengthy approval process and the uncertainty of FDA and other governmental regulatory requirements; clinical trials may fail to demonstrate the safety and effectiveness of our products; the degree and nature of our competition; our ability to employ and retain qualified employees; compliance with recent legislation regarding corporate governance, including the Sarbanes-Oxley Act of 2002; as well as those risks more fully discussed in our public filings with the Securities and Exchange Commission, all of which are difficult to predict and some of which are beyond our control.
