Novadaq hits million dollar milestone

TORONTO – Medical imaging company Novadaq Technologies Inc. receives $1 million payment from Sunnyvale, Calif.-based Intuitive Surgical Inc. for reaching the first of three milestones defined in a licence and development agreement the companies signed in January. Novadaq is working with Intuitive to integrate its fluorescence endoscopy SPY imaging platform with the latter’s da Vinci Surgical Robotic System, a 3D high definition imaging technology. When realized, the system will be used in surgical robotic procedures to visualize blood flow in vessels, tissue perfusion, tumors, tumor margins, and the lymphatic system in real-time. Following commercialization of the integrated technology Novadaq, which was given an upfront licence payment from Intuitive, will receive royalty payments for each da Vinci sold with, or upgraded to include, SPY imaging.

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