Cyberkinetics and NeuroMetrix forge alliance

Cyberkinetics Neurotechnology Systems, a medical device company focused on developing novel implantable products to treat neurological diseases and injuries of the nervous system, has formed a strategic alliance with NeuroMetrix, a leader in the development of innovative neurological diagnostic and therapeutic products. As part of this strategic relationship, NeuroMetrix has made an investment of $2.5 million in Cyberkinetics' common stock. The two firms have also agreed to negotiate a joint venture to develop and commercialize a therapeutic product for peripheral nerve injury based on Cyberkinetics' Andara Oscillating Field Stimulator neurostimulation technology platform.

The Andara OFS System, which uses electrical stimulation to promote the growth of nerve fibers, is currently under review by the US Food and Drug Administration for the treatment of acute spinal cord injuries. Results from a Phase Ia, 10-patient clinical trial of the Andara OFS Therapy in patients with recent spinal cord injuries were published in the January 2005 issue of the Journal of Neurosurgery: Spine, and indicated statistically significant improvements in sensory and motor function at 12 months after treatment. Four additional patients were subsequently enrolled in a Phase Ib the trial.