Cyberkinetics teams up with neurology partner

FOXBORO – Cyberkinetics Neurotechnology Systems Inc., a medical device company focused on developing novel implantable products to treat neurological diseases and injuries of the nervous system, has formed a strategic alliance with NeuroMetrix Inc., a developer of neurological diagnostic and therapeutic products.
NeuroMetrix has made an investment of $2.5 million in Cyberkinetics’ common stock, the companies said, and Cyberkinetics and NeuroMetrix have agreed to negotiate a joint venture to develop and commercialize a therapeutic product for peripheral nerve injury based on Cyberkinetics’ Andara Oscillating Field Stimulator technology platform, which is currently under review by the U.S. Food and Drug Administration for approval for the treatment of acute spinal cord injuries.
Timothy R. Surgenor, president and CEO of Cyberkinetics, said the alliance offers the company “a tremendous opportunity” to expand the potential of the Andara therapy.