ST. LOUIS and SHANGHAI, China, Aug. 30, 2021 (GLOBE NEWSWIRE) — Stereotaxis (NYSE: STXS) and Shanghai Microport EP Medtech Co., Ltd. (“MicroPort EP”) today announced a broad collaboration to advance technology innovation and commercial adoption of robotics in electrophysiology in China.
The agreement brings together MicroPort EP’s commercial and product leadership in China’s electrophysiology market with Stereotaxis’ advanced Robotic Magnetic Navigation technology. As part of the collaboration, MicroPort EP will become the exclusive distributor of Robotic Magnetic Navigation technology for electrophysiology in China. MicroPort EP will also pursue regulatory approvals for Stereotaxis’ latest innovations including the Genesis RMN® system and proprietary magnetic ablation catheter. The companies will integrate Stereotaxis’ robotic systems with MicroPort EP’s Columbus® mapping system, allowing physicians to benefit from the combination of both technologies. Both parties will also work together to develop a family of cardiac ablation and diagnostic catheters.
“I am very excited by the promise of this collaboration,” said Prof. Jin Qi of Ruijin Hospital in Shanghai. “Having completed nearly 2,000 robotic ablations, I deeply understand the value of robotic technology and appreciate how this partnership will expand broad access to these benefits for hospitals, physicians and their patients across China.”
The agreement further advances MicroPort EP’s pivotal role in China’s electrophysiology market by enabling it to develop and offer a highly differentiated product portfolio. The agreement builds upon the increasing interest and adoption Stereotaxis has experienced in China, is expected to significantly accelerate adoption, and supports Stereotaxis’s strategy of building a robust open ecosystem of therapeutic and diagnostic technologies used with Robotic Magnetic Navigation. The agreement’s term extends through 2028.
“Stereotaxis and MicroPort EP are delighted to enter into this strategic collaboration and are confident it will benefit both companies along with the electrophysiologists and arrhythmia patients we serve,” said David Fischel, CEO of Stereotaxis and Dr. Sun Yiyong, President of MicroPort EP. “We look forward to providing China’s electrophysiology community with highly innovative and differentiated products that leverage Robotic Magnetic Navigation technology. This will both strengthen the importance of robotics and reinforce the key role of MicroPort EP in this rapidly growing and underserved market.”
About MicroPort EP
MicroPort EP was established in 2010 and is a 38.49% owned associated corporation of MicroPort Scientific Corporation, one of China’s largest medical device companies and a leader in cardiovascular medical devices. MicroPort EP has been focusing on the development, manufacturing, and marketing of minimally invasive medical devices for the treatment of electrophysiological diseases. It has developed a family of advanced cardiac ablation catheters, diagnostic catheters, and 3D navigation systems. These products are used by hundreds of physicians at over 600 hospitals across China and beyond.
For more information, please visit www.everpace.com.
About Stereotaxis
Stereotaxis is the global leader in innovative robotic technologies designed to enhance the treatment of arrhythmias and perform endovascular procedures. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced integration of procedural information. Core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, China, Japan, Canada, and elsewhere. For more information, please visit www.stereotaxis.com.
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s ability to manage expenses at sustainable levels, acceptance of the Company’s products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase its technology, competitive factors, changes resulting from healthcare policy, dependence upon third-party vendors, timing of regulatory approvals, the impact of pandemics or other disasters, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company’s control and may be revised, modified, delayed, or canceled.
| Stereotaxis Contacts: | MicroPort EP Contacts: |
| David L. Fischel | Yiyong Sun |
| Chairman and Chief Executive Officer | President |
| Kimberly R. Peery | 86-021-60969600 |
| Chief Financial Officer | investors@everpace.com |
| 314-678-6100 | |
| investors@stereotaxis.com |
