Hansen Medican Inc. (HNSN) said it has reached patent and
technology agreements with a subsidiary of Koninklijke Philips
Electronics N.V. (PHG, PHIA.AE) allowing Philips rights to
non-robotic applications of some of Hansen's technology.
Shares of Hansen jumped sharply in premarket trading, up 20% to
$1.90. As of the close on Wednesday, the robotic technology maker's
stock had fallen 37% in the past year.
According to terms of the agreement, Philips Healthcare has the
exclusive right to develop and commercialize Hansen's fiber-optic
shape-sensing and localization, or FOSSL, technology. Hansen will
get an upfront payment of $29 million and could receive up to an
additional $78 million in future payments from Philips, depending
on the successful commercialization of licensing of products
containing the FOSSL technology.
"We are pleased to expand our relationship with Philips, and are
now in a position to further develop and commercialize this
technology which has the potential to improve clinical outcomes for
future medical products, including to significantly reduce the
amount of harmful radiation generated in interventional
procedures," said Hansen Chief Executive Bruce Barclay.
The FOSSL technology uses a fiber-optic sensor to allow doctors
to identify the shape and position of catheters and other tools
used in minimally invasive procedures, Hansen said.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com