Aspect Medical, Boston Scientific Form Alliance

Natick, MA-based Boston Scientific and Newton. MA-based Aspect Medical Systems have entered into a strategic alliance to develop brain monitoring technology to treat depression and Alzheimer’s disease.

Under the accord, Boston Scientific will give Aspect $25 million to fund research and development activities for its brain monitoring technology. Up to 20% of the funds may be used to research Alzheimer diagnostic technology, for which Aspect will retain the rights. For depression and other conditions, the companies will share equally in the profits. Aspect may also form third-party partnerships for the development of customized neurological tests, according to the companies.

“The agreement will allow us to actively pursue product development for depression and (Alzheimer’s) with the goal of introducing new products … within the next three to five years,” Nassib Chamoun, Aspect president and CEO, said in a statement.