Italian Cardiovascular company Sorin, has acquired NeuroTECH, a spin-off of Université catholique de Louvain (UCL), Louvain-la-Neuve, Belgium, one of Europe’s oldest Universities, for an undisclosed amount.
Neurotech, launched in 1994, has developed vagus nerve stimulation technology for treating conditions such as epilepsy and potentially chronic depression, as we have covered on our pages in recent months.
It would seem a strange move for a Cardiovascular player to acquire a company better known for its pioneering work in neural stimulation. It would seem that Sorin really wants NeuroTECH’s implantable medical device technology, which is designed to stimulate the vagus nerve, in order to exploit the potential involvement of the vagus nerve in heart failure treatment.
NeuroTECH was co-founded by four members of UCL and in its early years dabbled with the development of a visual prosthesis followed by the implantation of a prosthetic optic nerve. In 2002, the company identified a new application for the treatment of refractory epilepsy which involved vagus nerve stimulation, a therapy that has been gathering ground in the intervening years.
for Sopartec (co-founder and early investor in NeuroTECH)
“I am very pleased that the unique technological building blocks we have developed for our products, can now be used for the treatment of debilitating diseases otherwise refractory to other treatments, within Sorin Group,” said Mr. Michel Troosters, founder and past CEO.
“This acquisition represents a further important step forward in our long-term growth initiatives as announced in our recent Strategic Plan,” said André-Michel Ballester, Chief Executive Officer of Sorin Group.
Source: Sopartec SA