Media Releases >  Media Releases Archive  > SFU spin-off valued at over $7 million

Document Tools

Contact:
Andy Hoffer, 604-291-3141; hoffer@sfu.ca

Simon Fraser University spin-off company Neurostream Technologies Inc. has been acquired by Victhom Human Bionics Inc. of Quebec.

The deal, worth $7.172 million, demonstrates the value of the SFU research involved, says Teri Lydiard, a technology manager with SFU's University Industry Liaison Office who assisted with the company spin-off seven years ago. SFU is a shareholder in Neurostream, she notes, and the acquisition may eventually earn some money for the university.

Neurostream's technology is based on SFU kinesiology professor Andy Hoffer's 30 years of research on safe and effective implantable electrodes that can sense microvolt-level signals produced by nerves. His research has also explored how to apply these emerging technologies to restore normal functioning in patients suffering from severe disabilities such as spinal cord damage, stroke, urinary incontinence, limb amputations or chronic pain.

Since starting Neurostream, Hoffer and his team have developed a lead product, NeurostepTM, which uses patented nerve cuff electrodes and low-noise amplifiers to detect sensory nerve signals generated by skin pressure receptors. The device is completely implanted beneath the skin and activates paralyzed muscles in people who have foot drop, a condition in which one leg is paralyzed from a stroke or spinal cord injury. The implant allows them to walk again.

Hoffer, who will join Victhom's scientific advisory board and continue as director of research and development with Neurostream, hopes the Port Coquitlam company will continue to provide biomedical research opportunities and co-op work terms for SFU students.

“I'm glad about the acquisition because the local climate for fund-raising has been difficult,” says Hoffer. “Victhom is a publicly traded company on the Toronto Stock Exchange with greater access to funding. As well, they are developing artificial limb technologies that can be married beautifully to our neural control technologies, so it's a very exciting prospect for future development of a variety of prosthetic products.”

Victhom, he says, is expected to fund the Neurostream product testing as they move into human clinical trials.

-30-

Websites:
Andy Hoffer, Kinesiology, fas.sfu.ca/kin/profiles/hoffer.shtml
Victhom Human Bionics Inc; www.victhom.com/en/victhom/apropos.asp
Neurostream Technologies Inc; www.neurocuffs.com/