ST. LOUIS, Nov. 4, 2010 /PRNewswire/ — Stereotaxis, Inc.
(Nasdaq:
STXS) announced today that it has been awarded $1.5 million in
grants under the Qualifying Therapeutic Discovery Project Program
that was enacted under the Patient Protection and Affordable Care
Act of 2010. The program targets projects that show potential
to produce new therapies or medical technology that assists in the
delivery or administration of therapeutics, addresses unmet medical
needs and reduces the long-term growth of health care costs.
Stereotaxis was awarded the grants for 2009 and 2010 projects
related to the Company’s Niobe® Remote Magnetic Navigation
System and Odyssey™ system, which are designed to provide a
safer and more effective healthcare solution for treating heart
arrhythmias using magnetic catheters within the heart.
“We are pleased that the U.S. Department of Health and Human
Services recognizes the potential impact that Stereotaxis’
innovative technologies can have for patients suffering from
diseases of the heart,” said Michael P. Kaminski, President and
Chief Executive Officer of Stereotaxis. “These grants will allow
Stereotaxis to further enhance and expand the capabilities of our
technology in an effort to treat the most common type of heart
arrhythmias, atrial fibrillation, as well as ventricular
tachycardia and other cardiovascular disorders.”
About Stereotaxis
Stereotaxis designs, manufactures and markets an advanced
cardiology instrument control system for use in a hospital’s
interventional surgical suite to enhance the treatment of coronary
artery disease and arrhythmias. The Niobe® Remote Magnetic
Navigation System is designed to enable physicians to complete more
complex interventional procedures by providing image guided
delivery of catheters and guidewires through the blood vessels and
chambers of the heart to treatment s
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