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Cyberonics history
Cyberonics company history timeline
The first device was implanted in a 25-year-old man in late 1988 at Wake Forest Bowman Gray Medical School in North Carolina by Doctor J. Kiffen Penry and neurosurgeon William Bell.
A general partner at one of the venture capital firms that provided seed money, Vista Group, Cummins had served as a director on Cyberonics' board since 1988.
1995 Skip Cummins takes over as CEO.
The money helped to complete the trials needed to satisfy the FDA. In April 1996 St Jude agreed to pay approximately $72 million to acquire Cyberonics, but the trial results released in August of that year were not strong enough for the likes of St Jude, which backed out of the deal.
Rejecting a Buyout Offer in 2000
2005 VNS gains FDA approval to treat depression.
Aetna Will Not Cover Implant to Treat Severe DepressionHealth insurer Aetna says it will not pay for nerve-stimulating implant made by Cyberonics that Food and Drug Administration has approved as last-ditch treatment for severe depression (M)By Barnaby J. FederApril 22, 2006
According to a Senate investigation concluded in 2006, Schultz overruled the unanimous opinion of his scientific staff to grant approval.
Cyberonics called it the "dawning of a new era" and Cummins was talking about revenues in excess of $1 billion by 2010, but there were also critics of the way the approval was granted, in particular the role played by Daniel Schultz, the director of the FDA's device center.
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Cyberonics competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Ironwood Pharmaceuticals | 1998 | $351.4M | 219 | 2 |
| Roche Diagnostics Middle East | 2012 | $53.0M | 635 | - |
| Alexion Pharmaceuticals | 1992 | $6.1B | 2,525 | 48 |
| SmithKline Beecham Holdings Corporation | 1996 | - | 1,500 | - |
| ACIST Medical Systems, Inc. | 1991 | $160.0M | 100 | - |
| Shire Pharmaceuticals Inc | 2004 | $15.2B | 3,500 | - |
| Biopharma | 1896 | $200,000 | 500 | - |
| Incyte | 1991 | $4.2B | 1,600 | 37 |
| Vertex Pharmaceuticals | 1989 | $11.0B | 3,400 | 104 |
| Wyeth Biopharma | 1860 | $22.4B | 49,732 | - |
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Zippia gives an in-depth look into the details of Cyberonics, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Cyberonics. The employee data is based on information from people who have self-reported their past or current employments at Cyberonics. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Cyberonics. The data presented on this page does not represent the view of Cyberonics and its employees or that of Zippia.
Cyberonics may also be known as or be related to CYBERONICS INC, Cyberonics and Cyberonics Inc.