Medtronic Expands its Collaboration with Cosmo Pharmaceuticals to transform endoscopy by utilizing advanced AI Technology
Shots:
- Medtronic, has entered a definitive agreement to expand collaboration with Cosmo Intelligent Medical Devices focusing on AI-driven advancements like the GI Genius module for global endoscopic care transformation
- Medtronic will pay Cosmo $100M up front, along with double-digit royalties on net sales. Additionally, there's a potential $100M in milestone payments anticipated by the end of 2024. Cosmo Pharmaceuticals remains the sole manufacturer, while Medtronic gains exclusive global commercial rights.
- The collaboration introduces innovative AI platforms, such as AI Access, designed to host multiple third-party AI applications. This approach accelerates innovation, streamlines AI development across medical applications
Ref: Medtronic | Image: Medtronic
Related News:- Medtronic’s MiniMed 780G System Receives the US FDA’s Approval for the Treatment of Type 1 Diabetes
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
