Neurotechnology Systems (fka CYKN)

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News this AM:

NeuroMetrix Announces Acquisition of Technology and Intellectual Property Assets for Regeneration of Peripheral Nerves and Spinal Cord, and Treatment of Nervous System Injuries

WALTHAM, Mass., Jan 28, 2009 (BUSINESS WIRE) -- NeuroMetrix, Inc. (Nasdaq: NURO), a science-based medical device company advancing patient care through the development and marketing of innovative products that aid physicians in the assessment and treatment of diseases and injuries of peripheral nerves, and that provide regional anesthesia and pain control, announced today that it has acquired certain technological and intellectual property assets from Cyberkinetics Neurotechnology Systems, Inc. and Andara Life Science, Inc., a wholly-owned subsidiary of Cyberkinetics, for $350,000 in cash.
The acquired assets include all of Cyberkinetics' rights and regulatory filings for the Andara(TM) Oscillating Field Stimulator (OFS(TM)) technology for treatment of acute spinal cord injury, an investigational device designed to stimulate spinal cord repair and restore sensation; the rights to develop and commercialize a therapeutic product for peripheral nerve injury based on the Andara OFS neurostimulation technology; development and commercialization rights to certain derivatives of the pharmacological agent 4-aminopyridine that may be useful in the treatment of central and peripheral nervous system injury and disease; and certain other intellectual property and technology.