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Novadaq Technologies received a $1,000,000 payment from Intuitive Surgical , Inc.

Novadaq Technologies Inc., a developer of real-time medical imaging systems for use in the operating room, announced that it has received a $1,000,000 payment from Intuitive Surgical, Inc. (ISRG 346.12, -2.85, -0.82%)  for achieving the second pre-defined milestone outlined in the terms of their License and Development Agreement signed in January 2009. Under the agreement, Novadaq and Intuitive are working together to integrate Novadaq's proprietary SPY imaging technology into the 3D high definition imaging capabilities of Intuitive's da Vinci Surgical Robotic System. In addition, Novadaq has also received approximately $300,000 in fees for engineering services provided to Intuitive.

The integration of SPY imaging into the da Vinci Surgical Robotic System will enable surgeons performing minimally invasive surgical robotic procedures to simultaneously acquire SPY fluorescence images.

Intuitive Surgical and da Vinci are registered trademarks of Intuitive Surgical, Inc.

Source: Novadaq Technologies