Intuitive plans to integrate the technology into its da Vinci robot-assisted surgical platform, providing real-time measurements to help surgeons sense positions and track locations in the body during surgery.
Roanoke, Va.-based Luna has collected $12 million so far and stands to collect up to $18 million more upon achievement of technical and commercial milestones, according to a press release.
The new transaction will allow Luna to accelerate development of its shape-sensing technology for medical purposes, Luna CEO My Chung said in prepared remarks. The company plans to develop the technology further for strain and temperature sensing and to expand its sales and marketing efforts with some of the proceeds from the deal.
Luna and Intuitive revised their original licensing agreement in July 2013 and the news sent LUNA shares up more than 40% in a single day. Luna’s stock more than doubled in January after the company announced that it sold the shape-sensing technology to Intuitive.
LUNA shares barely moved after news of the new $6 million, with shares down 0.6% by the end of the day yesterday.