Luna Innovations, Inc. (LUNA) Message Board

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Technology Stocks : Luna Innovations, Inc. (LUNA)

LUNA 1.750

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3:57 PM EDT

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From: Glenn Petersen	1/22/2014 10:47:33 AM
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9:05 am Luna Innovations sells its shape-sensing technology for medical applications to Intuitive Surgical ( ISRG); co will receive $12 mln upfront in two tranches and up to an additional $18 mln upon certain technical milestones and commercial measures ( LUNA) : Luna Innovations ( LUNA) announces the sale of its shape-sensing technology for medical applications to Intuitive Surgical ( ISRG). The terms of the deal include: Luna receiving $12 million upfront in two tranches and up to an additional $18 million upon certain technical milestones and commercial measures. Intuitive will acquire Luna's fiber optic shape-sensing and localization technology, including related patents, and hire a number of engineering employees formerly utilized in Luna's medical shape-sensing business. The sale will enable Luna to focus on the growth potential of its fiber-optic sensing business while significantly strengthening the company's balance sheet. The sale contains provisions that maintain Luna's ability to service its existing agreements and for the continued use and exploration of opportunities outside the medical industry.

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