Exciting news about our shape sensing technology
President and Chief Executive Officer
Today we announced that our long-time development partner, Intuitive Surgical, is purchasing our shape-sensing technology for medical application; which has been targeted at the robotic-assisted minimally-invasive surgical systems market.
The agreement covers our shape-sensing and localization technology for medical applications only. Intuitive will license this technology back to us to continue to develop the technology under our existing agreements with Hansen Medical and for use outside the medical industry, allowing us to continue to explore non-medical applications for our shape-sensing technologies.
This sale is a very good thing for Luna!
– First, we can focus on the growth potential of our strain and temperature sensing technology – an industry that’s seeing significant growth. We’ve already made a name for ourselves in industries like automotive and aerospace, and we now have the opportunity to further penetrate those markets and their sub-markets.
– Second, it’s a great example of the market recognizing what we do best – developing technological solutions to problems others can’t solve and ultimately taking our technology to market, whether directly or through a partner.
– Third, it’s the culmination of development work we’ve done over the past several years with Intuitive. We can now monetize our innovations immediately – rather than waiting for longer-term revenues. This will enable us to invest in driving our business forward.
The bottom line is that we’ll now be able to concentrate on that opportunity and will have the resources to support our focus.
Of course we will also continue to sell core products to the telecommunications industry, as well as develop a pipeline of new technologies through contract research with an eye toward commercializing the technology we’re developing.
Our future is bright!
As we move ahead, we’re looking forward to focusing on our core technologies and the growth opportunities they present. And we continue to be optimistic about our future as we optimize the potential of the marketplace.