Dextera and Intuitive Surgical Initiate Joint Development Program on New Robotic Stapler Products for da Vinci Surgical Syste...
01 August 2016 - 8:00PM
Dextera Surgical Inc. (Nasdaq:DXTR) today announced that the
company has entered into a joint development program with Intuitive
Surgical, Inc. (Nasdaq:ISRG), the global leader in robotic-assisted
surgery, on a surgical stapler and cartridge for use with
Intuitive’s da Vinci
® Surgical System. The
initiation of this development agreement follows the successful
completion of a six-month feasibility evaluation of Dextera’s
MicroCutter technology as part of an ongoing license agreement
between the two companies.
Under the terms of the joint development program,
as specified in an amendment to the license agreement in December
2015, Intuitive Surgical will be responsible for the development
work on the stapler and Dextera Surgical will be responsible for
the development work on the stapler cartridge.
“This partnership with Intuitive Surgical is a
significant step in the progress we have achieved in enhancing and
expanding the long term opportunity of the MicroCutter technology,”
said Julian Nikolchev, president and CEO, Dextera Surgical.
“Intuitive Surgical is a leader in advancing robotic and minimally
invasive surgery, and we believe Dextera and MicroCutter technology
will have a strong role to play in these types of procedures in the
future.”
“For more than 20 years, we have focused on
delivering high-value solutions that improve surgical outcomes,”
said Bob DeSantis, senior vice president, Instrument Engineering,
Intuitive Surgical. “Working to integrate MicroCutter technology
and expand our stapling product offerings will only enhance that
effort.”
About Dextera SurgicalDextera Surgical designs
and manufactures proprietary stapling devices for minimally
invasive surgical procedures. In the U.S., surgical staplers
are routinely used in more than one million minimally invasive
laparoscopic, video-assisted or robotic-assisted surgical
procedures annually.
The company's signature proprietary technology, the
MicroCutter 5/80 Stapler, is the world's first and only
five-millimeter surgical stapler that articulates to 80 degrees in
each direction. As the smallest-profile articulating stapler
available today, the MicroCutter 5/80 Stapler may reduce the amount
of dissection and tissue handling required to position the stapler
in confined spaces, enabling access to difficult-to-reach
anatomy. The cartridge-based device's small size and wide
articulation range are designed to enhance the surgeon's access and
visualization at the surgical site and to mitigate limitations on
the advancement of minimally invasive surgical approaches created
by larger stapling devices.
Dextera Surgical also markets the only
automated anastomosis devices for coronary artery bypass graft
(CABG) surgery on the market today: the
C-Port® Distal Anastomosis Systems and PAS-Port® Proximal
Anastomosis System. These products, sold by Dextera
Surgical under the Cardica brand name, have demonstrated
long-term reliable clinical performance for more than a decade.
MicroCutter Indication Information The MicroCutter
5/80 Stapler is manufactured and cleared for use in the United
States for transection and resection in multiple open or minimally
invasive urologic, thoracic and pediatric surgical procedures, as
well as application for transection, resection and/or creation of
anastomoses in the small and large intestine, and the transection
of the appendix. The MicroCutter 30 White Reload has application in
vascular tissue.
Forward-Looking StatementsThe statements in this
press release regarding Dextera Surgical's beliefs as to the
benefits expected to be obtained from the use of the MicroCutter
5/80 Stapler, are "forward-looking statements." There are a number
of important factors that could cause results to differ materially
from those indicated by these forward-looking statements,
including: that Dextera Surgical may not be successful in its
efforts to complete the development of its combination device
(designed to use two different size cartridges) or achieve
optimization of Dextera Surgical's supply chain for its combination
device; that Dextera Surgical may not receive regulatory clearance
for indications not currently cleared; as well as other risks
detailed from time to time in the company's reports filed with the
U.S. Securities and Exchange Commission, including its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2016, under the
caption "Risk Factors." Dextera Surgical expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein. You
are encouraged to read Dextera Surgical's reports filed with the
U.S. Securities and Exchange Commission, available at
www.sec.gov.
Investors:
Bob Newell
Vice President, Finance and Chief Financial Officer
(650) 331-7133
investors@dexterasurgical.com
Media:
Jessica Volchok
(310) 849-7985
jessica@nicoleosmer.com