SOLANA BEACH, Calif., May 24, 2023 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (NASDAQ: CLPT) a global therapy-enabling platform company providing navigation and delivery to the brain, today announced that it has entered into a multi-year license agreement with UCB (EURONEXT BRUSSELS: UCB), a global biopharmaceutical leader, to partner on drug delivery platforms for UCB's gene therapy portfolio.
"We are extremely excited to partner with UCB, a global biopharmaceutical leader, with a focus on innovating through the adoption of next generation science and new technologies," stated Jeremy Stigall, Executive Vice President and General Manager of Biologics and Drug Delivery at ClearPoint Neuro. "Over the past year, we have invested heavily in expanding our Biologics and Drug Delivery team, as well as our product and services portfolio to attract partners of UCB's caliber. UCB sought comprehensive tools to empower a seamless transition from benchtop testing to commercial success, and that's precisely what our team can deliver today."
Under the terms of the license agreement, UCB will utilize ClearPoint Neuro's proprietary technology and services in connection with the development and commercialization of UCB's gene therapy products. ClearPoint Neuro will receive success-based milestone payments. Further financial details of the agreement were not disclosed.
Dhaval Patel, Executive Vice President and UCB's Chief Scientific Officer, said, "We look forward to the ClearPoint Neuro collaboration as we work on advancing UCB's research and development pipeline in gene therapy. We believe that ClearPoint Neuro are a strong strategic fit for UCB as they are a company dedicated to innovation in the neurology space with a unique portfolio of navigation and drug delivery tools."
About ClearPoint Neuro
ClearPoint Neuro's mission is to improve and restore quality of life to patients and their families by enabling therapies for the most complex neurological disorders with pinpoint accuracy. Applications of the Company's current product portfolio include deep brain stimulation, laser ablation, biopsy, and delivery of drugs, biologics, and gene therapy to the brain. The ClearPoint® Neuro Navigation System has FDA clearance, is CE-marked, and is installed in over 65 active sites in North America, Europe, and South America. ClearPoint Neuro is partnered with more than 50 pharmaceutical/biotech companies, academic centers, and contract research organizations providing solutions for direct CNS delivery of therapeutics in pre-clinical studies and clinical trials worldwide. To date, more than 6,000 procedures have been performed and supported by the Company's field-based clinical specialist team, which offers support and services to our customers and partners worldwide. For more information, please visit www.clearpointneuro.com.
Forward-Looking Statements
Statements in this press release and in the teleconference referenced above concerning the Company's plans, growth and strategies may include forward-looking statements within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, the size of total addressable markets or the market opportunity for the Company's products and services, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Uncertainties and risks may cause the Company's actual results to differ materially from those expressed in or implied by forward-looking statements. Particular uncertainties and risks include those relating to: the impact of the COVID-19 pandemic, global instability, supply chain disruptions, labor shortages, and macroeconomic and inflationary conditions; future revenue from sales of the Company's ClearPoint Neuro Navigation System and other new products offered by the Company; the Company's ability to market, commercialize and achieve broader market acceptance for the Company's ClearPoint Neuro Navigation System and other new products offered by the Company; the ability of our biologics and drug delivery partners to achieve commercial success, including their use of our products and services in their delivery of therapies; and risks inherent in the research and development of new products. More detailed information on these and additional factors that could affect the Company's actual results are described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission, and the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2023, which the Company filed with the Securities and Exchange Commission on May 15, 2023.
