Hansen Medical Settles Litigation Against Luna Innovations
12 12월 2009 - 6:11AM
Marketwired
Hansen Medical, Inc. (NASDAQ: HNSN) announced today that it has
entered into a Confidential Settlement Agreement (the "Settlement
Agreement") with Luna Innovations Incorporated (NASDAQ: LUNA) and
its wholly-owned subsidiary, Luna Technologies, Inc. The settlement
agreement is designed to resolve all pending claims between the
parties stemming from Hansen Medical's suit against Luna in
California Superior Court, as well as litigation between the
parties stemming from Luna's bankruptcy filing in the Western
District of Virginia. The settlement agreement contemplates that,
subject to certain conditions including Luna's emergence from
bankruptcy, Hansen Medical, Luna and Intuitive Surgical, Inc.
(NASDAQ: ISI), shall enter into agreements including the following:
-- Luna to issue to Hansen Medical a $5,000,000 Secured Promissory Note
secured by a Security Agreement and Patent and Trademark Security
Agreement;
-- Luna to issue to Hansen Medical shares of Common Stock equal to 9.9
percent of Luna's outstanding capital stock after issuance. In addition,
Luna will grant Hansen Medical a warrant to purchase additional shares of
Luna's Common Stock for three years after the Effective Date, at a purchase
price of $0.01 per share, to the extent necessary for Hansen Medical to
retain its ownership of 9.9 percent of Luna's outstanding capital stock;
-- License of certain Luna intellectual property to Hansen Medical;
-- Intuitive Surgical to enter into a Cross License Agreement with Hansen
Medical with respect to certain fiber optic shape sensing and localization
technology; and
-- Luna to develop a fiber optic shape sensing and localization solution
for Hansen Medical under a Development and Supply Agreement, including a
discount for future purchases with an aggregate limit comparable to the
amount of Hansen Medical's Secured Promissory Note.
"We are pleased to successfully resolve our outstanding
litigation with Luna and we are looking forward to partnering with
Luna in developing important new medical devices that utilize
Luna's fiber optic shape sensing technology," said Frederic Moll,
M.D., president and CEO, Hansen Medical. "The intellectual property
agreements between Hansen Medical, Luna and Intuitive Surgical will
further the development of this technology and its application in
the delivery of therapeutic treatments, which will benefit both
physicians and patients," continued Dr. Moll.
We believe fiber optic shape sensing and localization technology
can provide real-time position measurements to help surgeons
navigate through the body. The system consists of software,
instrumentation and disposable optical sensing fibers. The
technology, originally developed at NASA, is unique and designed to
provide the user with an accurate, direct and continuous
measurement of device location with no adverse effect from line of
sight limitations, and without introducing electrical charge or
radiation into the body.
About Hansen Medical
Hansen Medical, Inc., based in Mountain View, Calif., develops
products and technology using robotics for the accurate
positioning, manipulation, and control of catheters and
catheter-based technologies. Its first product, the Sensei® Robotic
Catheter system, is a robotic navigation system that enables
clinicians to place mapping catheters in hard-to-reach anatomical
locations within the heart easily, accurately and with stability
during complex cardiac arrhythmia procedures. The Sensei system is
compatible with fluoroscopy, ultrasound, 3D surface map and patient
electrocardiogram data and was cleared by the U.S. Food and Drug
Administration (FDA) in May 2007 for manipulation and control of
certain mapping catheters in Electrophysiology (EP) procedures. The
safety and effectiveness of the Sensei system for use with cardiac
ablation catheters in the treatment of cardiac arrhythmias,
including atrial fibrillation (AF), have not been established. In
the European Union, the Sensei system is cleared for use during EP
procedures, such as guiding catheters in the treatment of AF.
Additional information can be found at www.hansenmedical.com.
Forward-Looking Statements
This press release contains forward-looking statements
regarding, among other things, statements relating to expectations,
goals, plans, objectives and future events. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E
of the Exchange Act and the Private Securities Litigation Reform
Act of 1995. Examples of such statements include statements about
the expectations regarding anticipated agreements in connection
with the litigation settlement with Luna and the development and
use of fiber optic shape sensing technology. These statements are
based on the current estimates and assumptions of our management as
of the date of this press release and are subject to risks,
uncertainties, changes in circumstances, assumptions and other
factors that may cause actual results to differ materially from
those indicated by forward-looking statements. Important factors
that could cause actual results to differ materially from those
indicated by such forward-looking statements include, among others,
the risks and uncertainties that Luna is not able to emerge from
bankruptcy, the risks and uncertainties inherent in our business,
including risks involved in developing new products, risks of
adverse or inconclusive results in pre-clinical and clinical
trials, risks associated with incorporating Luna's technology into
catheters and with other products, delays in obtaining or failure
to obtain necessary regulatory clearances; potential safety and
regulatory issues that could slow or suspend our sales; our ability
to effectively sell, service and support our products; the scope
and validity of intellectual property rights applicable to our
products; competition from other companies; and our ability to
obtain additional financing to support our operations. These and
other risks are described in greater detail under the heading "Risk
Factors" contained in our periodic SEC filings, including our
Quarterly Report on Form 10-Q filed with the SEC on November 16,
2009. Given these uncertainties, you should not place undue
reliance on these forward-looking statements. We undertake no
obligation to revise or update information herein to reflect events
or circumstances in the future, even if new information becomes
available.
Hansen Medical, Heart Design, Hansen Medical & Heart Design,
Sensei and IntelliSense are registered trademarks, and Artisan,
Artisan Extend, Lynx, CoHesion, Fine Force Technology and
Instinctive Motion are trademarks of Hansen Medical Inc., in the
United States and other countries.
Investor Contacts: Steven Van Dick 650.404.5800 Email Contact
News Media Contact: Amy Cook 925.552.7893 Email Contact Lasse
Glassen Financial Relations Board 213.486.6546 Email Contact
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