HydroCision® Announces Global Licensing Agreement with PROCEPT BioRobotics, Providing Access to its Proprietary Pump Cartridge Technology
Mar 26, 2019, 12:39 ET
BOSTON and REDWOOD SHORES, Calif., March 26, 2019 /PRNewswire/ -- HydroCision, a pioneer in the use of high velocity water jet technology for the minimally invasive treatment of musculoskeletal, spine and wound care conditions, today announced it has provided an exclusive worldwide license of its pump cartridge technology to PROCEPT BioRobotics for use in Urology.
The agreement provides PROCEPT BioRobotics with the rights to use HydroCision's innovative means of pumping high pressure fluids with their AquaBeam® Robotic System, the world's first surgical robot providing autonomous tissue removal for the safe and effective treatment of Benign Prostatic Hyperplasia (BPH).
"This global agreement with PROCEPT BioRobotics is another significant and strategic step to bring the value of our differentiated technology into new surgical applications affecting millions of people around the world," commented recently appointed HydroCision CEO, Alain Tranchemontagne. "This is yet another important validation of the value of our proprietary technology."
Under the license agreement, HydroCision will receive a one-time upfront payment from PROCEPT BioRobotics. Specific payment terms are confidential and were not disclosed.
"We are pleased to partner with HydroCision to have immediate access to their unique pumping technology," commented Nikolai Aljuri, Ph.D., PROCEPT BioRobotics President and CEO. "Having the means to generate the required pressures to deliver high-velocity fluid streams with HydroCision's pump cartridge broadens our ability to deliver our proprietary Aquablation® technology, which we developed as a core component of Aquablation therapy, a treatment that changes surgery as we know it."
This is the second Field-of-Use License for HydroCision's technology. HydroCision previously granted an exclusive license for its FluidJet™ technology to Smith & Nephew for use in the field of wound care.
About PROCEPT BioRobotics Corporation
Based in Silicon Valley, PROCEPT BioRobotics is a privately held surgical robotics company enabling better patient care by developing transformative solutions in urology. With an initial focus on BPH, the company's first offering, the AquaBeam Robotic System delivering Aquablation therapy, is the first FDA granted surgical robot providing autonomous tissue removal for the treatment of BPH. Aquablation therapy combines the clarity of real-time, multi-dimensional imaging, autonomous robotics and heat-free waterjet ablation for targeted, controlled, and immediate removal of prostate tissue for the treatment of lower urinary tract symptoms caused by BPH. Aquablation therapy offers predictable and reproducible outcomes, independent of prostate anatomy, prostate size or surgeon experience. http://www.PROCEPT-BioRobotics.com.
HydroCision, Inc is a privately held medical device company focused on the development and commercialization of proprietary FluidJet technology. The company has established a unique patent estate covering the use of high velocity water jets for precisely removing soft tissue without generating heat. Current commercial applications include the fields of wound care, spine surgery, interventional pain and orthopedic sports medicine. www.HydroCision.com.
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