IMRIS will issue 1.6 million common shares to purchase NeuroArm Surgical, including the company's technology, patents, and associated intellectual property. The companies expect to close the transaction no later than February 8.
NeuroArm's robotic surgery system is designed to perform microsurgery and biopsy-stereotaxy applications on the brain with enhanced precision. The technology features two robotic arms that can manipulate MR-compatible tools at microscopic scale from a remote workstation. The surgeon sees 3D images of the brain and surgical tools and uses hand controllers equipped with touch sensation to work on very small anatomy through the robotic arms and surgical tools.
The robot was developed at the University of Calgary and currently is used to perform neurosurgical procedures within an IMRISneuro suite at Calgary's Foothills Hospital.
At closing of the acquisition, IMRIS will enter into a collaboration agreement with the University of Calgary to leverage its clinical setting and data through development of the next generation of the technology.
In addition, IMRIS also entered into an agreement with MacDonald, Dettwiler, and Associates to create the next generation of the technology and to commercialize the system.
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