Hansen Medical expands license agreement with Intuitive Surgical Hansen Medical (HNSN) announced it has signed an updated license agreement with Intuitive Surgical (ISRG). Under the terms of the updated agreement, Intuitive Surgical's existing co-exclusive rights to Hansen Medical's patent portfolio to certain non-vascular approaches have been extended to include patents filed by Hansen Medical subsequent to the original 2005 agreement up to and including the period three years subsequent to this update. Hansen Medical retains the right to use its intellectual property for all clinical applications. This agreement is an update to the co-exclusive license agreement signed by the companies in 2005. Intuitive Surgical will pay Hansen Medical a $20Mup front license fee and will purchase 5,291,005 shares of Hansen Medical common stock for $10M through a private placement transaction. The shares were priced at $1.89, which represents a 5% premium to the trailing 10-day average of Hansen Medical's closing bid price on the Nasdaq Capital Market on October 26.
Intuitive Surgical survey positive on hernia opportunity, says JPMorgan JPMorgan said its survey of 25 U.S.-based general surgeons who have used da Vinci for hernia procedures yielded positive outlook on the hernia opportunity for Intuitive Surgical. The firm says the complexity of the robot does not appear to be an issue. It keeps an Overweight rating on Intuitive with a $550 price target.