ClearPoint Neuro Announces Partnership With D&K Engineering for Development of Robotic System for the MRI Suite and Operating Room

Rhea-AI Summary

ClearPoint Neuro (Nasdaq: CLPT) announced a partnership with D&K Engineering to develop a robotic system for MRI and operating room use. This collaboration aims to streamline neurosurgery, enhancing procedural efficiency and patient interaction. The partnership leverages ClearPoint's existing technology and D&K's expertise in medical devices. The robotic system is expected to see its first clinical application in 2023. ClearPoint Neuro's platform has FDA clearance and is already implemented in over 60 clinical sites across the U.S., Canada, and Europe.

Positive

• Partnership with D&K Engineering to accelerate robotic system development.
• First clinical use of the robotic system expected in 2023.
• ClearPoint Neuro Navigation System has FDA clearance and is installed in over 60 clinical sites.

Negative

• None.

SOLANA BEACH, Calif., May 10, 2021 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced a partnership with San Diego-based D&K Engineering for the continued development of a robotic system for use in both the MRI Suite and the Operating Room.

“This relationship highlights two important parts of the ClearPoint vision and strategy,” commented Joe Burnett, President and CEO at ClearPoint Neuro. “First, we must not only make functional neurosurgery procedures shorter and more consistent across our clinical sites, but we must make the Neurosurgeon’s time with their patients more productive. By automating specific parts of the planning and navigation during the procedure, we can help the surgical team to focus their time and energy on the most crucial and exacting parts of the surgery. Second, we recognize that partnerships can often be the most efficient and productive pathway to innovation. The clinical expertise of the ClearPoint team and our existing platform, combined with the expertise of D&K, who have decades of experience in medical devices and exacting, pick-and-place robotics will only accelerate what either partner could do individually. This is a clear example of us using our capital raise completed in February to accelerate development of our portfolio and the ClearPoint Platform.”

“We are 100% behind the ambition and dedication of ClearPoint to help treat some of the most devastating neurological disorders imaginable,” commented Alex Kunczynski, President at D&K Engineering. “We all know family and friends afflicted with these diseases, and our team at D&K understands what is at stake. We are proud to offer our experience, our time and our energy to this important partnership.”

The company expects first clinical use of the robotic assisted system in 2023.

About ClearPoint Neuro

ClearPoint Neuro’s mission is to improve and restore quality of life to patients and their families by enabling therapies for the most complex neurological disorders with pinpoint accuracy. Applications of the Company’s current product portfolio include deep-brain stimulation, laser ablation, biopsy, neuro-aspiration, and delivery of drugs, biologics, and gene therapy to the brain. The ClearPoint Neuro Navigation System has FDA clearance, is CE-marked, and is installed in over 60 active clinical sites in the United States, Canada and Europe. The Company’s SmartFlow^® cannula is being used in partnership or evaluation with over 25 individual biologics and drug delivery companies in various stages – from preclinical research to late-stage regulatory trials. To date, more than 4,000 cases have been performed and supported by the Company’s field-based clinical specialist team, which offers support and services for the Company’s partners. For more information, please visit www.clearpointneuro.com.   

About D&K Engineering

D&K Engineering provides Total Commercialization Solutions® for products and instruments that have high innovation content and complex manufacturing lifecycles. Their capabilities span the entire product lifecycle, including requirements definition, systems architecture, concept creation, design, prototyping, manufacturing, and after-market support. From Fortune 100 to early-stage startups, their clients leverage D&K’s infrastructure and TCS approach to evolve hardware, systems and product ideas through all development stages and into stable manufacturing. Their experience-driven engineering, manufacturing and supply chain services get products to market faster with a lower overall cost of development, providing a significant competitive advantage for our customers. They operate to ISO9001 and ISO13485 standards, are headquartered in San Diego, California, and have additional development and manufacturing sites in Singapore and Malaysia. For more information please visit www.dkengineering.com.

Forward-Looking Statements

Statements herein concerning the Company’s plans, growth and strategies may include forward-looking statements within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Uncertainties and risks may cause the Company's actual results to differ materially from those expressed in or implied by forward-looking statements. Particular uncertainties and risks include those relating to: the impact of the COVID-19 pandemic and the measures adopted to contain its spread; future revenue from sales of the Company’s ClearPoint Neuro Navigation System products; and the Company’s ability to market, commercialize and achieve broader market acceptance for the Company’s ClearPoint Neuro Navigation System products. More detailed information on these and additional factors that could affect the Company’s actual results are described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which has been filed with the Securities and Exchange Commission, and the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2021, which the Company intends to file with the Securities and Exchange Commission on or before May 17, 2021.

FAQ

What is the significance of ClearPoint Neuro's partnership with D&K Engineering?

The partnership aims to enhance neurosurgical efficiency by developing a robotic system for use in clinical settings.

When is the first clinical use of the robotic system expected?

The first clinical use of the robotic system is anticipated in 2023.

What does ClearPoint Neuro's Navigation System achieve?

The Navigation System enables precision in treating complex neurological disorders, with FDA clearance and installations in over 60 clinical sites.

How does the partnership impact ClearPoint Neuro's growth?

The partnership may accelerate the development of ClearPoint Neuro's portfolio and enhance their market position in neurosurgery.

What is the role of D&K Engineering in the partnership?

D&K Engineering provides expertise in medical devices and robotics, contributing to the development of the robotic system.