Cyberkinetics Selects Alpha Omega as a Distributor; Contract Broadens Distribution of Cyberkinetics' Research Products.FOXBOROUGH, Mass. -- Cyberkinetics Neurotechnology Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CYKN) today announced that it has contracted with Alpha Omega to serve as a non-exclusive distributor for the company's line of neuroscience research products. Alpha-Omega is a leading supplier of neuroscience systems to the research community both in the United States and in Europe, with product offerings that are complementary to Cyberkinetics' research products. The supply and distribution agreement will provide Cyberkinetics with access to a wide group of neuroscientists in the United States and Europe through an established, reliable and trusted channel. "This supply and distribution agreement supports our goal of increasing near-term revenues," said Timothy R. Surgenor, Cyberkinetics' Chief Executive Officer. "Alpha-Omega is a strong partner in the scientific equipment market, and we believe this supply and distribution agreement will help us build our research business revenues, both domestically and internationally. We are very pleased to be working with them." "Distribution of our research products under this agreement will potentially benefit our clinical product development efforts," Surgenor continued, "by generating cash to fund product development, by providing opportunities for pre-clinical validation of our technologies, and by strengthening our relationships with world-renowned neuroscience researchers." "The synergy between our two companies, and the fact that both operate in the scientific and medical arenas, will be a great benefit for the world of neurotechnology," said Alpha Omega President Imad S. Younis. "We are looking forward to joining forces with another leader in the field of neural recording so we can provide better solutions to our customers worldwide." Cyberkinetics' research product line of neural monitoring and recording instruments is used by academic scientists to conduct neuroscience experiments. Sales were approximately $650,000 in 2004, and approximately $250,000 in the first quarter of 2005. About Cyberkinetics Neurotechnology Systems, Inc. Cyberkinetics Neurotechnology Systems, a leader in brain-machine interface technology, is developing products to treat nervous system diseases and disorders by bringing together advances in neuroscience, computer science and engineering. Cyberkinetics' products are based on over ten years of technology development and cutting-edge neuroscience research at leading academic institutions such as Brown University, the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Emory University, and the University of Utah The University of Utah (also The U or the U of U or the UU), located in Salt Lake City, is the flagship public research university in the state of Utah, and one of 10 institutions that make up the Utah System of Higher Education. . Cyberkinetics is publicly traded on the Over the Counter Bulletin Board under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CYKN. The Company is headquartered in Foxborough, Massachusetts and conducts engineering and research in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . Cyberkinetics' flagship product, the BrainGate(TM) Neural Interface System, is designed to give severely paralyzed par·a·lyze tr.v. par·a·lyzed, par·a·lyz·ing, par·a·lyz·es 1. To affect with paralysis; cause to be paralytic. 2. To make unable to move or act: paralyzed by fear. individuals a long-term, direct brain-computer interface for the purpose of communication and control of a computer and other devices. Patients are currently being enrolled into a pilot clinical trial to test the BrainGate(TM) System's safety and effectiveness. Cyberkinetics has received 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. clearance to market the 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 NeuroPort(TM) System can contribute to the diagnosis and treatment of neurological conditions Neurological conditions A condition that has its origin in some part of the patient's nervous system. Mentioned in: Pervasive Developmental Disorders in patients who have undergone craniotomy Craniotomy Definition Surgical removal of part of the skull to expose the brain. Purpose A craniotomy is the most commonly performed surgery for brain tumor removal. by providing neurologists and neurosurgeons a new resource to detect, transmit and analyze neural activity. Cyberkinetics retains all distribution rights to the BrainGate and NeuroPort systems. Additional information is available at www.cyberkineticsinc.com. About Alpha Omega Alpha Omega develops and manufactures cutting-edge biomedical research and clinical equipment used worldwide in various neurological fields. Currently, over 300 research labs and 60 well-known hospitals and universities worldwide use Alpha Omega products. With offices in the United States, Israel and Germany, Alpha Omega has a unique global perspective that cultivates innovation, creativity and diversity to inspire the best research and development possible. The company is in constant collaboration with researchers and clinicians to improve existing products and pioneer future solutions. For clinical use, Alpha Omega has the MicroGuide(TM), the most comprehensive guidance system available for target localization Customizing software and documentation for a particular country. It includes the translation of menus and messages into the native spoken language as well as changes in the user interface to accommodate different alphabets and culture. See internationalization and l10n. in the surgical treatment of movement disorders Movement Disorders Definition Movement disorders are a group of diseases and syndromes affecting the ability to produce and control movement. Description like Parkinson's disease Parkinson's disease or Parkinsonism, degenerative brain disorder first described by the English surgeon James Parkinson in 1817. When there is no known cause, the disease usually appears after age 40 and is referred to as Parkinson's disease. . The system is used during Deep Brain Stimulation In neurotechnology, deep brain stimulation (DBS) is a surgical treatment involving the implantation of a medical device called a brain pacemaker, which sends electrical impulses to specific parts of the brain. (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) placement, Pallidotomy, Thalamotomy and similar procedures. And for research, Alpha Omega has a full line of products for neural recording including electrodes, amplifiers, data acquisition equipment, spike sorting and offline analysis tools. This highly specialized company strives to provide neurosurgeons and neuroscientists with all of their Microelectrode mi·cro·e·lec·trode n. A very small electrode, often used to study electrical characteristics of living cells and tissues. microelectrode, n Recording needs from A to Z. www.alphaomega-eng.com Forward Looking 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. Statement: This news release contains "Forward Looking Statements," including statements about potential revenue growth and ongoing product development efforts. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. Forward-looking statements include, but are not limited to, statements concerning our future expectations, plans, prospects and future operating results as well as projections of cash and marketable securities and sufficiency of funding for capital expenditures. Actual results may differ materially from those indicated by these forward-looking statements as a result of various factors including risks related to: our access to additional capital; our ability to obtain additional funding to support our business activities; our dependence on third parties for development, manufacture, marketing, sales and distribution of our products; our development of products; our ability to obtain and maintain patent protection for our discoveries and products; and our limited operating history; as well as those risks more fully discussed in the "Risk Factors" section of the Form 8-K filed with the Securities and Exchange Commission on October 8, 2004. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. |
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