SORIN Acquires UCL Spin-off NeuroTECH
LOUVAIN-LA-NEUVE, Belgium, November 12, 2012 /PRNewswire/ --
Established in the end of nineties, NeuroTECH was co-founded by M. Troosters and three members of UCL (Prof. C. Trullemans, Prof Cl. Veraart and Dr. J. Delbeke). During the first years of the company, the spin-off of two laboratories (Neural Rehabilitation Engineering and Microelectronics Laboratory) assisted in the development of a visual prosthesis in the frame of European grants. A world premiere took place in 1998, with the implantation of an optic nerve visual prosthesis at the Cliniques universitaires St-Luc, Brussels.
In 2002, the company identified a new application for the treatment of refractory epilepsy. A novel implantable vagus nerve stimulation system was developed. ADNS-300, CE marked, is able not only to stimulate but also to record compound action potentials from the vagus nerve, using this information to potentially personalize the therapy and provide an improved outcome. Chronic recording of the compound action potentials of the vagus nerve has been another world premiere for Neurotech, which it achieved in collaboration with the University of Gent's department of Epileptology of Prof. P. Boon. Other prototypes were also developed by NeuroTECH to evaluate the use of neurostimulation to treat either refractory obstructive sleep apnea, or movement disorders respectively.Since its inception, SOPARTEC, a wholly owned subsidiary of UCL and manager of VIVES Louvain Technology Funds was one of the co-founders and an early investor in the company. From 2005 onwards, the company was funded by VIVES I and SRIW.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts