Luna Innovations, Intuitive Surgical Announce Multi-Year Deal
Luna Innovations Incorporated (NASDAQ: LUNA), which develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets, today announced a multi-year agreement that amends its development and supply agreement with Intuitive Surgical, Inc., (NASDAQ: ISRG), the global leader in robotically-assisted minimally invasive surgical systems. The agreement provides for the achievement of various development milestones through 2015.
The new agreement builds on previous work between the companies to integrate Luna's high-speed shape-sensing technology into Intuitive's platform for robotically-assisted minimally invasive surgery. The agreement covers the work planned over a multi-year period so that the component representing Luna's technology is ready to be brought to market. Under the existing development and supply agreement, Luna is the exclusive supplier to Intuitive of these components.
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