Cyberonics Announces Resignation Of Milton M. Morris, Senior Vice President, Research & Development

HOUSTON, Dec. 17, 2014 /PRNewswire/ -- Cyberonics, Inc. CYBX, a global leader in medical devices for the treatment and management of epilepsy, today announced the resignation of Milton M. Morris, Ph.D., Senior Vice President, Research & Development, due to personal reasons. Dr. Morris' resignation is effective immediately, but in order to ensure a seamless transition, he will assist in shifting his responsibilities to other experienced members of the company's R&D team. In addition, Dr. Morris has agreed to be available to provide consulting services for at least the next six months as the company continues to evaluate partnership opportunities for the chronic heart failure indication.

"I'd like to thank Milton for his important contributions to building our product development pipeline.  He has helped establish a high-performance R&D team that will continue to deliver innovative technological solutions for our patients for years to come," commented Dan Moore, Cyberonics' President & Chief Executive Officer. "Given the high-quality senior R&D leaders currently in place at Cyberonics, we don't anticipate initiating a search for Milton's replacement at this time."

About Cyberonics, Inc. and the VNS Therapy^® System
Cyberonics, Inc. is a medical technology company with core expertise in neuromodulation. The company developed and markets the VNS Therapy System, which is FDA-approved for the treatment of refractory epilepsy and treatment-resistant depression. The VNS Therapy System uses an implanted medical device that delivers pulsed electrical signals to the vagus nerve. Cyberonics markets the VNS Therapy System in selected markets worldwide.

Additional information on Cyberonics and the VNS Therapy System is available at www.cyberonics.com.

Safe harbor statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.  These statements can be identified by the use of forward-looking terminology, including "may," "believe," "will," "expect," "anticipate," "estimate," "plan," "intend," "forecast," or other similar words.  Statements contained in this press release are based on information presently available to us and assumptions that we believe to be reasonable.  We are not assuming any duty to update this information if those facts change or if we no longer believe the assumptions to be reasonable.  Investors are cautioned that all such statements involve risks and uncertainties, including without limitation, statements concerning delivering innovative technological solutions for our patients for years to come and developing the chronic heart failure indication with a partner.  Our actual results may differ materially.  Important factors that may cause actual results to differ include, but are not limited to:  continued market acceptance of the VNS Therapy System and sales of our products; the development and satisfactory completion of clinical studies; the achievement of regulatory approval for new products, including use of the VNS Therapy System for the treatment of other indications; satisfactory completion of the post-market registry required by the U.S. Food and Drug Administration as a condition of approval for the treatment-resistant depression indication; adverse changes in coverage or reimbursement amounts by the Centers for Medicare & Medicaid Services, state Medicaid agencies and private insurers; the presence or absence of intellectual property protection and potential patent infringement claims; maintaining compliance with government regulations; product liability claims and potential litigation; reliance on single suppliers and manufacturers for certain components; the accuracy of management's estimates of future expenses and sales; the potential identification of material weaknesses in our internal controls over financial reporting; and other risks detailed from time to time in our filings with the Securities and Exchange Commission ("SEC").  For a detailed discussion of these and other cautionary statements, please refer to our most recent filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 25, 2014, and our Quarterly Report on Form 10-Q for the fiscal quarters ended July 25, 2014 and October 24, 2014.

Contact Information

Greg Browne, CFO
Cyberonics, Inc.
100 Cyberonics Blvd.
Houston, TX 77058
Phone:  (281) 228-7262
Fax:  (281) 218-9332
ir@cyberonics.com

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SOURCE Cyberonics, Inc.