SACRAMENTO, Calif., Sept. 16 Novatrix Biomedical, Inc.announced today that it has formed a new company, Curexo Medical, Inc. (CMI),with the acquisition of all assets of Integrated Surgical Services, Inc.(ISS). Under the licensing agreement, Curexo, Inc., will transfer all theassets acquired from ISS to CMI.
Curexo Medical, Inc., located in Sacramento, California, retained theformer officers and employees of ISS in order to facilitate rapid introductionof its surgical robotics system into the U.S. orthopedic market. The system iscalled ROBODOC(R) Surgical Assistant System (the ROBODOC). The ROBODOC hasbeen very well received by hospitals and orthopedic surgeons from bothacademic institutions and private hospitals in Europe and Asia, includingJapan, Korea and India. The system has already been approved by Korea'sregulatory agency, KFDA.
"CMI's mission is to make computer assisted surgery a gold standard forall major orthopedic surgeries by the year 2012 and to be the world leader inthis market segment," said Dr. Ramesh Trivedi, President and CEO.
"We have already received funding from Novatrix and have been assured offuture funding to accomplish our goals," said Trivedi. "We are activelyrecruiting highly qualified and experienced staff to rapidly grow thebusiness."
Novatrix Biomedical, Inc., based in Southern California, developsproprietary technologies in the drug delivery field. "We firmly believe thatCMI has the right strategy, a well thought out plan and a highly experiencedteam in place to be a dominant player in the orthopedic surgical roboticsfield," said Dr. Soon Kap Hahn, President and CEO of Novatrix Biomedical.
"Along with our partner, Curexo Inc., Korea, we are committed to fund CMIto secure U.S. Food and Drug Administration (FDA) clearance, enter the U.S.market and continue building the ongoing business in other major markets ofthe world."
Curexo Medical, Inc. also announced that it has submitted a 510(k)pre-market notification to the U.S. FDA for the clearance of its ROBODOCSurgical Assistance System for marketing in the U.S. A 90-day period iscustomary for FDA review of a 510(k) submission.http://www.robodoc.com Contact: Media Contact Dr. Ramesh C. Trivedi Tami Adachi President & CEO 415-370-9638 Curexo Medical, Inc. [email protected]
SOURCE Curexo, Inc.