IRVINE, Calif. and SALT LAKE CITY, Utah, Feb. 11, 2021 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced a multi-product joint development and option agreement with Blackrock Microsystems (“Blackrock”). Blackrock is a technology leader in the neuroscience, neural engineering, and neural prosthetics space, and specializes in implantable electrode arrays, most notably the Utah Array, capable of measuring individual neuronal activity. Blackrock electrodes are used in brain-computer-interfaces to restore function for patients suffering from spinal cord injuries, neurological disorders and amyotrophic lateral sclerosis or ALS.

“We are thrilled to announce this partnership with Blackrock and enter several existing Neurosurgery markets, representing an estimated combined addressable market of over $100 million, with differentiated and innovative products,” commented Joe Burnett, President and CEO of ClearPoint Neuro. “We believe that Blackrock’s expertise in making the most precise neuro-electrodes on the market combined with ClearPoint’s strengths in navigation, delivery and case support gives us a clear entry point and path to leadership in established global markets. We expect initial product launches in 2023, starting with the Microelectric Recording (“MER”) platform and to be followed with offerings including “smart” biopsy needles and other implantable neural electrodes. MER will allow us to expand beyond the MRI suite and into the Operating Room (“OR”) where more than 90% of deep brain stimulation procedures are performed today. ClearPoint’s goal is to supply a portfolio of products for both the MRI and the OR, allowing surgeons to decide which arena they feel is more appropriate for each individual patient presentation.”

“ClearPoint’s market leadership and focus on the Neurosurgery markets, paired with our ability to incorporate precision technology, make this partnership an ideal configuration,” said Marcus Gerhardt, CEO of Blackrock Microsystems. “This is a critical next step for our Neuro Devices business to provide enabling technology and products for improved patient outcomes. We look forward to working with Joe and his team on our joint mission to generate greater efficiency in neurosurgery processes and improvements in patient care.”

About ClearPoint Neuro
ClearPoint Neuro’s mission is to improve and restore quality of life to patients and their families by enabling therapies for the most complex neurological disorders with pinpoint accuracy. Applications of the Company’s current product portfolio include deep-brain stimulation, laser ablation, biopsy, neuro-aspiration, and delivery of drugs, biologics, and gene therapy to the brain. The ClearPoint Neuro Navigation System has FDA clearance, is CE-marked, and is installed in over 60 active clinical sites in the United States, Canada, and Europe. The Company’s SmartFlow® cannula is being used in partnership or evaluation with 25 individual biologics and drug delivery companies in various stages from preclinical research to late-stage regulatory trials. To date, more than 4,000 cases have been performed and supported by the Company’s field-based clinical specialist team which offers support and services for our partners.


About Blackrock Microsystems
Blackrock Microsystem’s mission is to provide innovative tools and neurotech expertise to translate technology into novel, implantable clinical solutions that improve human lives. We are the leading provider of technology in the neuroscience, neural engineering, and neural prosthetics space. Blackrock’s technology is at the core of worldwide innovations in Brain-Computer-Interfaces (BCI). Enabled by our expertise in precision electrode technology, signal processing and stimulation, BCIPioneers have been able to MoveAgain, WalkAgain and TalkAgain.

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