Cyberkinetics' Collaborator and Inventor of Andara(TM) OFS Device Honored for ''Outstanding Contribution to Scientific Commercialization''.FOXBOROUGH, Mass. -- Cyberkinetics Neurotechnology Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CYKN; "Company;" "Cyberkinetics"), a neurotechnology company focused on neurostimulation and neural sensing, today announced that the Indiana Health Industry Forum (IHIF IHIF Indiana Health Industry Forum ) has named Richard Ben Borgens, Ph.D., the inventor of Cyberkinetics' Andara(TM) Oscillating os·cil·late intr.v. os·cil·lat·ed, os·cil·lat·ing, os·cil·lates 1. To swing back and forth with a steady, uninterrupted rhythm. 2. Field Stimulator Device, to receive the Indiana Health Industry Forum's 2006 "Outstanding Contribution to Scientific Commercialization Award". The award is presented annually to honor those whose leadership and commitment contributes to health and growth of life science in Indiana. The award will be presented on June 13, 2006, at the IHIF annual conference, "Innovention '06" in Indianapolis, Indiana. The IHIF is a non-profit organization composed of members from a wide range of public and private companies, educational institutions and government officials focused on creating and growing health industry enterprises in Indiana. Dr. Borgens is the founder of Purdue's Center for Paralysis Research, and the Mari Hulman George Mari Hulman George, born Mary Antonia Hulman on December 26, 1934, in Terre Haute, Indiana, is the daughter of the late Anton "Tony" Hulman and Mary Fendrich Hulman, prominent Indiana philanthropists and business owners. Professor of Applied Neurology in the School of Veterinary Medicine veterinary medicine, diagnosis and treatment of diseases of animals. An early interest in animal diseases is found in ancient Greek writings on medicine. Veterinary medicine began to achieve the stature of a science with the organization of the first school in the at Purdue. "We are extremely pleased that Dr. Borgens has been recognized for his leadership and dedication to developing treatments for spinal cord injury Spinal Cord Injury Definition Spinal cord injury is damage to the spinal cord that causes loss of sensation and motor control. Description Approximately 10,000 new spinal cord injuries (SCIs) occur each year in the United States. and congratulate him on this achievement," stated Timothy R. Surgenor, President and Chief Executive Officer of Cyberkinetics. "The Andara(TM) OFS (OFS, Norcross, GA, www.ofsbrightwave.com) A manufacturer of optical fibers and interconnect equipment. Formerly the Optical Fiber Solutions (OFS) Group of Lucent, OFS was turned into a stand-alone company acquired by Furukawa Electric in 2001. Device is an extremely promising stimulation technology that has already been tested in a ten-participant clinical trial in the treatment of acute spinal cord injury. We expect to be able to submit our Humanitarian Device Exemption application to the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. later this year. If successful, this device could be the first such treatment available to those with acute spinal cord injuries and may be available as early as 2007." Cyberkinetics' Andara(TM) OFS (Oscillating Field Stimulator) Device technology is currently under FDA review to be designated as a Humanitarian Device for the regeneration of neural tissue damaged in spinal cord injury. The Andara OFS Device potentially addresses neural stimulation markets for traumatic brain injury Traumatic brain injury (TBI), traumatic injuries to the brain, also called intracranial injury, or simply head injury, occurs when a sudden trauma causes brain damage. TBI can result from a closed head injury or a penetrating head injury and is one of two subsets of acquired brain , stroke, peripheral nerve damage and spinal cord injury. Analysts currently estimate that the market for neural stimulation devices exceeds $1.6 billion annually, and they expect this market to grow to more than $10 billion within 10 years. The acute spinal cord injury market alone is currently estimated at more than $500 million worldwide. About Cyberkinetics Neurotechnology Systems, Inc. Cyberkinetics Neurotechnology Systems, Inc., a leader in the neurotechnology industry, is developing neural stimulation, sensing and processing technology to improve the lives of those with severe paralysis resulting from spinal cord injuries, neurological disorders and other conditions of the nervous system. Cyberkinetics' product development pipeline includes: the FDA cleared-to-market NeuroPort(TM) System, a neural monitor designed for acute inpatient applications and labeled for temporary (less than 30 days) recording and monitoring of brain electrical activity; the Andara(TM) Oscillating Field Stimulator (OFS) Device, an investigative device designed to stimulate regeneration of the neural tissue surrounding the spinal cord spinal cord, the part of the nervous system occupying the hollow interior (vertebral canal) of the series of vertebrae that form the spinal column, technically known as the vertebral column. ; and the BrainGate System, an investigative device designed to provide communication and control of a computer, assistive devices, and, ultimately, limb movement. Additional Information is available at Cyberkinetics' website at http://www.cyberkineticsinc.com. Forward-Looking Statements This announcement contains forward-looking statements, including statements about Cyberkinetics' product development plans and progress, potential development of proprietary inventions and benefits that may be realized by certain research programs. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, and can be identified by the use of forward-looking terminology such as "may," "will," "believe," "expect," "anticipate" or other comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements and reported results shall not be considered an indication of our future performance. Factors that might cause or contribute to such differences include our limited operating history; our lack of profits from operations; our ability to successfully develop and commercialize our proposed products; a lengthy approval process and the uncertainty of FDA and other governmental regulatory requirements; clinical trials may fail to demonstrate the safety and effectiveness of our products; the degree and nature of our competition; our ability to employ and retain qualified employees; compliance with recent legislation regarding corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , including the Sarbanes-Oxley Act of 2002; as well as those risks more fully discussed in our public filings with the Securities and Exchange Commission, all of which are difficult to predict and some of which are beyond our control. |
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