LUNA is currently up $1.05 to $4.80 (it was as high as $5.35 this morning) on news that it has signed a licensing agreement.
Luna Innovations Signs Multi-Year Development and Supply Agreement with Intuitive Surgical
Thursday June 14, 9:21 am ET
Luna's Sensing Technology to be Integrated into Intuitive's Surgical Products
ROANOKE, Va.--(BUSINESS WIRE)--Luna Innovations Incorporated (NASDAQ:LUNA - News) announced today that it has entered into an IP licensing, development, and supply agreement with Intuitive Surgical, Inc. (NASDAQ: ISRG - News), the global technology leader in robotic-assisted minimally invasive surgery (MIS). Under the terms of the multi-year agreement, Luna will develop and supply its fiber optic-based shape sensing and position tracking system for integration into Intuitive Surgical's products, which includes the da Vinci® Surgical System.
"This agreement with Intuitive Surgical expands our presence within the medical devices market and further demonstrates the strength of our business model focused on the commercialization of our proprietary technologies and intellectual property. Our technology, partnered with the world leader in medical robotics, will help surgeons precisely guide and control surgical tools during robotically assisted procedures," stated Kent Murphy, Luna's Chairman and Chief Executive Officer. "It's truly rewarding to know that Luna's technology will be assisting in complex minimally invasive surgery helping to ensure the best outcome for patients."
"We view Luna as the clear technology leader in the area of advanced shape sensing and position tracking systems" said Gary Guthart, Intuitive's Chief Operating Officer. "We look forward to working closely with Luna on the integration of our two technologies."
Luna's shape sensing and position tracking system promises to provide real-time position measurements to help surgeons navigate through the body. The system consists of software, instrumentation and disposable optical sensing fiber. Luna's technology, originally developed at NASA and recognized as having use in medical applications since early 2005, is unique and designed to provide the user with an accurate, direct and continuous measurement of device location with no adverse effect from line of sight limitations and without introducing electrical signals or radiation into the body.
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