Dextera Surgical Inc. (fka DXTRQ)

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Dextera and Intuitive Surgical Initiate Joint Development Program on New Robotic Stapler Products for da Vinci Surgical System
August 1, 2016

REDWOOD CITY, Calif., Aug. 01, 2016 (GLOBE NEWSWIRE) -- Dextera Surgical Inc. (DXTR) today announced that the company has entered into a joint development program with Intuitive Surgical, Inc. (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.”

http://finance.yahoo.com/news/dextera-intuitive-surgical-initiate-joint-100000382.html