NMR Centers Acquires Rights to Technology

NMR Centers Inc. said it has acquired the exclusive rights to develop and market trans-cranial electrostimulation therapy technology in the United States and Mexico.

In the cash and stock deal, the rights were acquired from the patent holder, a charitable foundation in London, while the technology was acquired from a Texas-based joint partnership, Lifenet Joint Venture. Research continues under NMR sponsorship at University of Texas Medical Center, Houston, and at Northeast London Polytechnic, in London, an NMR official said.

NMR said it has agreed to pay a small amount of cash and 1.6 million shares of its common stock, plus royalties on future profits, in exchange for the rights. The company would not disclose the value of the cash payment. NMR common stock recently has sold for about $10.50 per share in light over-the-counter trading.

Trans-cranial electrostimulation therapy involves non-surgical electrical stimulation of the brain to produce specific amounts of naturally occurring chemicals.

NMR officials say the technique has applications in the control of smoking, insomnia and eating disorders and in the reduction of both chronic pain and the effects of withdrawal from chemical dependency.

The company said it plans to increase funding for research in those areas.

Newport Beach-based NMR Centers establishes and operates independent outpatient facilities that provide diagnostic services including radiology, magnetic resonance imaging, cardiology and neurosciences.