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Cyberkinetics Neurotechnology Systems, Inc., Strengthens Its Clinical Management Team With Michael Fritz As Director of Clinical Operations; Fritz Joins Cyberkinetics From Medtronic Neurological Division

Posted on: Monday, 3 October 2005, 09:00 CDT

Cyberkinetics Neurotechnology Systems, Inc. (OTCBB: CYKN) (Cyberkinetics) today announced that it has named Michael J. Fritz as Director of Clinical Operations. Mr. Fritz will be responsible for all Cyberkinetics' clinical trials to support product approval of the Company's BrainGate(TM) Neural Interface System. He will also support the 2006 launch of Cyberkinetics' NeuroPort(TM) Neural Monitoring System by designing clinical studies aimed at market acceptance and applications development.

Prior to joining Cyberkinetics, Fritz was Senior Principal Clinical Systems Project Leader at Medtronic, Inc.'s Neurological Division where he was responsible for the design, implementation and management of clinical research information technology and data management systems related to implantable neurological devices. Prior to that, he held positions in clinical trials management and engineering at Boston Scientific Scimed, a division of Boston Scientific Corporation and Guidant Corporation's Cardiac Pacemakers, Inc.

"Mike's experience with the clinical trials process for implantable neurological devices, as well as his broad knowledge of engineering and computer software application management, greatly enhances Cyberkinetics' ability to move its BrainGate(TM) System toward commercialization," stated Timothy R. Surgenor, President and Chief Executive Officer at Cyberkinetics. "His experience with supporting marketed products is also an important addition to our management team as we prepare to launch the NeuroPort(TM) System in 2006."

Fritz earned his master's degree in software engineering at the University of St. Thomas at St. Paul, Minnesota. He earned his bachelor's degree in electrical engineering at the Institute of Technology, the University of Minnesota's college of engineering, physical sciences and mathematics, at Minneapolis, Minnesota. There, he focused on signal processing, microprocessor systems, computer science and biomedical engineering.

About Cyberkinetics Neurotechnology Systems, Inc.

Cyberkinetics Neurotechnology Systems, Inc., a leader in brain interface technology, is developing products to treat nervous system diseases and disorders by bringing together advances in neuroscience, computer science and engineering. Cyberkinetics' products are based on over ten years of technology development and cutting-edge neuroscience research at leading academic institutions such as Brown University, the Massachusetts Institute of Technology, Emory University, and the University of Utah.

Cyberkinetics has received FDA clearance to market the NeuroPort(TM) System, a neural monitor designed for acute inpatient applications and labeled for temporary (less than 30 days) recording and monitoring of brain electrical activity. The NeuroPort(TM) System can contribute to the diagnosis and treatment of neurological conditions in patients who have undergone a craniotomy by providing neurologists and neurosurgeons a new resource to detect, transmit and analyze neural activity.

Cyberkinetics' BrainGate(TM) System is being designed to give severely paralyzed individuals, as well as individuals with motor impairment from a variety of causes, a long-term, direct brain-computer interface for the purpose of communication and control of a computer, assistive devices, and, ultimately, limb movement.

More information is available at www.cyberkineticsinc.com. For specific information about clinical trials of the BrainGate(TM) System please send an email to braingateinfo@cktrial.com.

Forward Looking Safe Harbor Statement

This announcement contains forward-looking statements, including statements about Cyberkinetics' product development plans and progress and benefits that may be realized by certain research programs. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and can be identified by the use of forward-looking terminology such as "may,""will,""believe,""expect,""anticipate" or other comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements and reported results shall not be considered an indication of our future performance. Factors that might cause or contribute to such differences include our limited operating history; our lack of profits from operations; our ability to successfully develop and commercialize our proposed products; a lengthy approval process and the uncertainty of FDA and other governmental regulatory requirements; clinical trials may fail to demonstrate the safety and effectiveness of our products; the degree and nature of our competition; our ability to employ and retain qualified employees; compliance with recent legislation regarding corporate governance, including the Sarbanes-Oxley Act of 2002; as well as those risks more fully discussed in our public filings with the Securities and Exchange Commission, all of which are difficult to predict and some of which are beyond our control.

Source: Business Wire

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