2-Year Agreement Enables MRI Interventions to Distribute CLS’s Precision Ablation Product Portfolio for Use in Interventional MR-Guided Procedures Beyond their Previously Announced Spine and Neuro License Agreement
FRAMINGHAM, Mass., Oct. 17, 2018 (GLOBE NEWSWIRE) -- CLS AB (NASDAQ FIRST NORTH: CLS B) in Lund, Sweden, with the subsidiary Clinical Laserthermia Systems Americas, Inc. (CLS Americas), and MRI Interventions (MRIC), today announced that the companies have signed an agreement granting MRI Interventions the exclusive right to distribute and sell CLS’s portfolio of products, including its TRANBERG® product line for high precision ablation, in the USA and Canada. This new agreement includes interventional MR-guided procedures beyond the previously announced license agreement for spine and neurosurgery.
“In line with CLS’s ambition to continue building its precision ablation business within interventional MR, MRI Interventions Inc has been selected as CLS’s distribution partner for USA and Canada. MRI Interventions is well-established with a long and deep experience in marketing and selling their ClearPoint® product portfolio to hospitals and clinicians active within this space. We are excited about the immediate potential in this partnership and look forward to teaming up with this great company,” stated Dan Mogren, Chief Commercial Officer of CLS.
“The distribution agreement expands the partnership beyond the license and collaboration agreement our two companies recently entered into, and it gives CLS immediate access to a team of +20 commercial managers and clinical specialists,” says Lars-Erik Eriksson, CEO of CLS.
In collaboration with its customers and partners, CLS intends to continue expanding its product portfolio and offer unique products that will advance image guided ablation into a more precise, predictable, safe and effective therapy. This will help improve outcomes through better procedure planning and execution, and also allow for new innovative approaches, such as the immune stimulatory interstitial laser thermotherapy treatment (imILT®) of CLS, aimed for the interventional oncology market.
“This is an exciting collaboration for MRI to execute on our four-pillar growth strategy,” commented Joe Burnett, President and CEO of MRI Interventions. “In addition to our previously announced co-development partnership and license for neurosurgery and spine, this agreement allows us to support the CLS platform beyond neurosurgery and leverage our existing commercial infrastructure to achieve scale. This collaboration is a terrific tool to continue our path to profitability and represents a great technology with our very capable team.”
About MRI Interventions, Inc.
Building on the power of magnetic resonance imaging (“MRI”), MRI Interventions is creating innovative platforms for performing the next generation of minimally invasive surgical procedures in the brain. The ClearPoint Neuro Navigation System, which has received 510(k) clearance and is CE marked, utilizes a hospital’s existing diagnostic or intraoperative MRI suite to enable a range of minimally invasive procedures in the brain. For more information, please visit www.mriinterventions.com.
About Clinical Laserthermia Systems AB
The company is developing TRANBERG® | Thermal Therapy System for precise, safe and effective minimally invasive ablation of soft tissues including immune stimulating thermal therapy (imILT®) of solid cancerous tumors. The products have received 510(k) clearance and are CE marked. The company, which is headquartered in Lund Sweden, has subsidiaries in Germany and USA. For more information, please visit www.clinicallaser.com.
The TRANBERG® |Thermal Therapy System has not yet received market clearance for immune stimulating interstitial laser thermotherapy (imILT®) by the Food and Drug Administration (FDA) in the United States of America (USA).