Optics Co. Gets $2.5M In Licensing Agreement
Precision Optics Corp. of Gardner has received $2.5 million as part of a licensing agreement with a California-based company that makes equipment for robotically assisted surgery.
Precision Optics assigned all of its current patents to Intuitive Surgical Operations Inc. of Sunnyvale, Calif., which makes the da Vinci Surgical System. Precision Optics will retain a royalty-free license to the patents in fields outside medical robotics.
Precision Optics said the $2.5 million payment will satisfy its cash needs and allow it to continue developing new technology. Among the products it is working on are new minimally invasive surgical devices, extremely small optical elements intended to allow for imaging in areas of the body that were previously inaccessible and handheld stereoendoscopes for use in minimally invasive surgery.
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