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Cyberonics Reiterates No Interest in Any Merger or Combination
With Advanced Neuromodulation Systems
Conference Call at 4:30 PM EDT Today, September 15
HOUSTON, Sept. 15 /PRNewswire-FirstCall/ -- Cyberonics, Inc. (NASDAQ:CYBX)
today announced that its Board of Directors, after consulting with its
financial advisor, Merrill Lynch & Co., has unanimously rejected Advanced
Neuromodulation Systems Inc.'s (NASDAQ:ANSI) invitation to "meet to discuss a
business combination." The Company reconfirms its previously stated position
in its press release dated August 20, 2004, that it is not interested in any
combination or merger and remains focused on strengthening its epilepsy
business and gaining clarity and certainty in a revised depression regulatory
plan and timeline.
CONFERENCE CALL ACCESS INFORMATION
A conference call to discuss this press release will be held at 4:30 PM EDT
today, Wednesday, September 15, 2004. To listen to the conference call live by
telephone dial 877-451-8943 (if dialing from within the U.S.) or 706-679-3062
(if dialing from outside the U.S.). The conference ID is 210644; the leader is
Pam Westbrook. A replay of the conference call will be available two hours
after the completion of the conference call on Wednesday, September 15, 2004
through Wednesday, September 29, 2004 by dialing 800-642-1687 (if dialing from
within the U.S.) or 706-645-9291 (if dialing outside the U.S.). The replay
conference ID access code is 210644.
ABOUT VNS THERAPY AND CYBERONICS
Cyberonics, Inc. was founded in 1987 to design, develop and market medical
devices for the long-term treatment of epilepsy and other chronic neurological
disorders using a unique therapy, vagus nerve stimulation (VNS). Stimulation
is delivered by the VNS Therapy System, an implantable generator similar to a
cardiac pacemaker. The VNS Therapy System delivers preprogrammed intermittent
mild electrical pulses to the vagus nerve 24 hours a day. The Company's
initial market is epilepsy, which is characterized by recurrent seizures.
Epilepsy is the second most prevalent neurological disorder. The Cyberonics
VNS Therapy System was approved by the FDA on July 16, 1997 for use as an
adjunctive therapy in reducing the frequency of seizures in adults and
adolescents over 12 years of age with partial onset seizures that are
refractory to antiepileptic medications. The VNS Therapy System is also
approved for sale as a treatment for epilepsy in all the member countries of
the European Economic Area, Canada, Australia and other markets. To date, more
than 27,000 epilepsy patients in 24 countries have accumulated over 79,000
patient years of experience using VNS Therapy. The VNS Therapy System is
approved for sale in the European Economic Area and in Canada as a treatment
for depression in patients with treatment-resistant or treatment- intolerant
major depressive episodes including unipolar depression and bipolar disorder
(manic depression). VNS Therapy is at various levels of investigational
clinical study as a potential treatment for depression, anxiety disorders,
Alzheimer's disease, and chronic headache/migraine. The Company is
headquartered in Houston, Texas and has an office in Brussels, Belgium. For
additional information please visit us at http://www.cyberonics.com/ .
DATASOURCE: Cyberonics, Inc.
CONTACT: Pamela B. Westbrook, Vice President of Finance and CFO of
Cyberonics, Inc., +1-281-228-7200, or fax, +1-281-218-9332, or
; or Helen Shik, Vice President of Schwartz Communications,
+1-781-684-0770 ext. 6587, or fax, +1-781-684-6500, or ,
for Cyberonics, Inc.
Web site: http://www.cyberonics.com/