Cyberonics
This article was originally published in The Gray Sheet
Executive Summary
Boston Scientific plans to increase its stake in the vagus nerve stimulation (VNS) technology firm from nearly 15% to up to 20% of outstanding shares, after a Dec. 10 shareholder rights plan amendment clears the way. Signaling the potential for broader ties down the road, the move follows a roughly $50 mil. Boston Scientific investment earlier this year (1"The Gray Sheet" June 16, 2003, In Brief). Cyberonics, which holds FDA approval for adjunctive, drug-resistant epilepsy treatment, simultaneously announced the agency accepted for filing its October PMA supplement submission for adjunctive, drug-resistant depression treatment Dec. 9 (2"The Gray Sheet" Nov. 10, 2003, In Brief). Cyberonics has projected potential depression sales of over $1 bil. by 2010...
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Cyberonics
Boston Scientific's approximately $50 mil. stake in the vagus nerve stimulation technology manufacturer demonstrates the firm's interest in the potential of deep brain stimulation. The VNS device already is approved for drug-resistant epilepsy, and Cyberonics is developing the device to treat depression. Houston, Texas-based Cyberonics will host a dinner program outlining its depression regulatory timeline Sept. 24. Cyberonics was targeted for acquisition by Medtronic in 2000, but rejected a $26-per-share takeover offer (1"The Gray Sheet" Sept. 18, 2000, p. 5)...
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