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Sofamor Danek

This article was originally published in The Gray Sheet

Executive Summary

Plans to leverage its StealthStation stereotactic treatment guidance platform with deep brain stimulation technology developed by Advanced Neurostimulation Systems for relief of essential tremor and tremor caused by Parkinson's disease. The two companies jointly reported June 22 the signing of a deal giving Sofamor Danek exclusive worldwide rights to use, market and sell products incorporating the DBS technology. Sofamor is paying $4 mil. upfront; four $2 mil. payments will be made upon certain milestones. Similar to Medtronic's Activa device, which in August 1997 became the first DBS anti-tremor device available in the U.S. ("The Gray Sheet" Aug. 11, 1997, p. 5), ANS' technology delivers small electrical pulses from a pulse generator to electrodes positioned in the brain. Sofamor Danek reportedly will take a charge against second quarter pre-tax earnings of $13 mil. related to the deal, analysts state. The company also will book in the second quarter a $24 mil. charge related to an agreement with Emory University whereby Sofamor Danek picks up exclusive worldwide rights to Emory's LIM Mineralization Protein-1 gene for use in bone growth regeneration or repair and gene therapy applications...
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