MENLO PARK, Calif.–(BUSINESS WIRE)–OrthoMEMS, a medical device company focused on biomedical applications of patented MEMS and wireless technology, today announced that it has been granted an exclusive option from Cleveland Clinic to expand its license to include all fields of use.
The option is exercisable upon the satisfaction of certain undisclosed conditions. In the event conditions are met, OrthoMEMS would obtain worldwide exclusive rights to develop and commercialize its core sensing and wireless technology for all medical and industrial applications. Currently, OrthoMEMS has an exclusive license for spine and orthopedics uses.
“This option allows us to leverage our wireless pressure sensing platform everywhere in the human body. Beyond spine and orthopedics, our immediate focus is on applications in cardiology, neurology and ophthalmology – large medical markets where pressure matters,” said Douglas Lee, Chairman and CEO of OrthoMEMS.