Delays at the federal Food and Drug Administration and dwindling cash resources will force Cyberkinetics to close its doors for good, The Boston Globe reported.
After a two-year wait to get its Andara Oscillating Field Stimulator approved by the FDA, Cyberkinetics was forced in January to sell the technology to Waltham-based NeuroMetrix Inc. for $350,000. The device is designed to help regenerate nerve cells in patients with severe spinal injuries.
Former CEO Tim Surgenor will join the NeuroMetrix board April 1.
