Minnetronix Enters Licensing Agreement with Penn State

May 15, 2012

ST. PAUL, Minn. May 15, 2012 — Minnetronix announced today the exclusive licensing rights of Penn State Research Foundation’s wireless energy transmission technology for assist devices in the treatment of Congestive Heart Failure. Wireless energy transmission technology enables therapies for Congestive Heart Failure, such as Left Ventricular Assist Devices (LVAD), to become fully implantable and Penn State is one of only two organizations in the world to have developed and deployed such a system clinically.

Minnetronix, a Minnesota-based medical device design and manufacturing firm, first began work with Penn State/Hershey Medical Center in 1996 as the two organizations collaborated in the development of the Electric Total Artificial Heart, intended for patients with end-stage Heart Disease.

With a 16-year history in the field of mechanical circulatory support, as well as a variety of other Class II and III technologies, Minnetronix looks forward to bringing its first proprietary medical technology to the marketplace to help achieve its mission of developing and enhancing patient outcomes.

The Penn State wireless energy transmission technology will consist of a more mobile and fully implantable system which will benefit clinicians and patients alike.

The first application is expected to be introduced within the LVAD market space. The next steps are preclinical and clinical testing and development.

About Minnetronix

Minnetronix provides award-winning product design, manufacturing and remote medical device monitoring services to the medical device and life science marketplaces. Minnetronix successfully incorporates custom electronic, mechanical and software engineering into finished Class II and III devices and systems such as cardiovascular and monitoring systems, therapeutic and implantable devices, and diagnostic instruments.

Minnetronix has led over 150 design and manufacturing projects for nearly 100 different medical device and life science companies, ranging in size from small start-ups to large established firms. Minnetronix is ISO 13485 certified and is an FDA registered manufacturer.