See feature article below: Stereotaxis Inc. (NASDAQ: STXS)
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Report For: Stereotaxis Inc. (NASDAQ: STXS)
Shares of Stereotaxis Inc. (NASDAQ: STXS) are up 10% this morning at $1.29 on news that the University of Chicago Medicine is creating a High-Tech Arrhythmia Technology Suite with Stereotaxis Niobe® ES System. At 11:00 a.m. 226 thousand shares have traded, the average daily volume is 69 thousand shares.
Stereotaxis is involved in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease. Over 100 issued patents support the Stereotaxis platform provides patient care with robotic precision and safety. Stereotaxis’ core Epoch® Solution includes the Niobe® magnetic navigation system, the Odyssey® portfolio of lab optimization, networking and patient information management solutions, and the Vdrive® robotic navigation system and consumables.
ST. LOUIS, July 13, 2016 (GLOBE NEWSWIRE) — Stereotaxis, Inc. (STXS), a global leader in innovative technologies for the treatment of cardiac arrhythmias, today announced that the University of Chicago Medicine will implement the Company’s Niobe® ES remote magnetic navigation system as part of its vision to create a cutting-edge arrhythmia technology suite. The University of Chicago Medicine is one of the nation’s leading academic medical institutions, consistently ranked among the best hospitals in the nation by U.S. News & World Report. The Center for Arrhythmia Care at the University of Chicago Medicine, led by renowned cardiologist Dr. Roderick Tung, director of the cardiac electrophysiology program, is one of the busiest university-based heart rhythm programs in the Chicago area.
“The Niobe system is perhaps the most revolutionary invention in the field of cardiac ablation, enabling remote anatomic mapping of electrical currents and eradication of difficult-to-reach arrhythmias with unparalleled safety and pinpoint precision,” said Tung. “Our acquisition of Stereotaxis’ latest generation remote magnetic navigation platform will enhance a highly respected electrophysiology (EP) program that is regarded as a global leader in ablation therapy, research and education, especially in the treatment of ventricular tachycardia (VT), and will greatly improve patients’ lives.”
Tung was named director of the EP program at the University of Chicago Medicine in March 2016 after transferring from the Cardiac Arrhythmia Center at Ronald Reagan UCLA Medical Center, where he successfully built the largest VT ablation program on the West Coast. He performed dozens of procedures with the Niobe system while at UCLA, 85% of which were for VT ablation (a particularly complex procedure), citing the system’s ability to access every area of the left ventricle.
Currently, Tung oversees a team of seven EPs and has plans to upgrade the lab so that it allows for optimal observation of procedures for training purposes. The new Niobe ES system is scheduled to launch on August 1.
The University of Chicago Medicine is participating in the MAGNETIC VT study, which is analyzing long-term patient outcomes using the Niobe ES system in VT compared to manual approaches. Tung is serving as the principal investigator in North America for this multi-center, prospective clinical study.
The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Canada, China, Japan, and elsewhere. The V-Sono™ ICE catheter manipulator, V-Loop™ variable loop catheter manipulator, and V-CAS™ catheter advancement system have received clearance in the United States, Canada, and the European Union. For more information, please visit www.stereotaxis.com.
Source – Company Press Release
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