Sep 28 2006, 8:27 AM EST
News source: Business Wire
Cyberkinetics Neurotechnology Systems, Inc. (OTCBB: CYKN) (Cyberkinetics) and Neurotech Business Report announced that Cyberkinetics' Andara(TM) Oscillating Field Stimulator (OFS(TM)) Device will receive the publication's "Gold Electrode Award" for Best New Product on Friday, September 29, 2006, at the "Neurotech Leaders Forum 2006" at the Crowne Plaza San Francisco International Airport. The Andara(TM) OFS(TM) Device is designed to restore sensory and motor function in those with acute spinal cord injuries. Mark A. Carney, Cyberkinetics' Executive Vice President, will accept the award for Cyberkinetics.
"Neurotech Reports' editors believe the Andara(TM) OFS(TM) Device represents a groundbreaking advance in neurotechnology as potentially the first commercial neural regeneration stimulation system to reach the market," said James Cavuoto, editor and publisher of Neurotech Reports. "We were also impressed with the developers' efficient transition from university research to commercial development. Finally, we're pleased to see Cyberkinetics is pursuing this important market -- offering hope and solid scientific progress for individuals paralyzed by spinal cord injuries."
"This award highlights the rapidly emerging clinical potential of our Andara(TM) OFS(TM) neural stimulation platform," added Timothy R. Surgenor, President and Chief Executive Officer of Cyberkinetics Neurotechnology Systems, Inc. "We are developing this technology as a treatment for the devastating effects of severe spinal cord injury. The Andara(TM) technology platform significantly broadens the franchise that we established with our BrainGate Neural Interface System for the potential treatment of those with nervous system injuries, diseases and conditions."
In selecting the winner of the "Gold Electrode Award" for Best New Product, editors of the Neurotech Reports considered a wide range of new technologies and product directions in the neurotechnology field. From among these, the editors singled out Cyberkinetics' Andara(TM) OFS(TM) Device as a product that has broken new ground in the treatment of acute spinal cord injury.
In 2005, John P. Donoghue, Ph.D., a founder of Cyberkinetics, received the Neurotech Business Report's "Gold Electrode Award" for Researcher of the Year based on his work in the field of brain-computer interfaces, including development of the BrainGate Neural Interface System.
About Neurotech Reports and the Neurotech Business Report
Neurotech Reports serves the scientific, medical engineering and financial communities interested in developing the new field of neurotechnology. Neurotech Reports is dedicated to providing business and technology professionals up-to-date and forward-looking information about the field of neurotechnology and future developments that will affect the venture capital, research, and start-up communities.
Neurotech Business Report is the first publication targeting the business of neurotechnology, the application of engineering techniques to human neural and information processing systems. The newsletter covers the ongoing technology transfer from medical devices to commercial products in emerging markets like computer interfaces and training/simulation, as well as technologies including neural prostheses, neural sensing and stimulation and brain-computer interfaces.
For more information, visit http://www.neurotechreports.com.
About the Andara(TM) OFS(TM) Device
Cyberkinetics' Andara(TM) OFS(TM) Device is based on research by Richard Ben Borgens, Ph.D. The initial research was done by Dr. Borgens at the Center for Paralysis Research at Purdue University. The Andara(TM) OFS(TM) Device, about the size of a cardiac pacemaker, is intended to improve or restore tactile sensation and some movement in those with quadriplegia
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