Neurostream acquired by Victhom Human Bionics

Neurostream Technologies Inc, a Port Coquitlam-based spin-off from Simon Fraser Univ, has been acquired for $7.2 million by Victhom Human Bionics Inc of Quebec City. Neurostream founder Dr Andy Hoffer will continue as director of research and join the firm’s scientific advisory board. Publicly traded Victhom acquired Neurostream by issuing 4.529 million shares at $1.58 per share. The transaction netted Victhom $1 million in cash and Neurostream’s venture capital backers — Business Development Bank Venture Capital and GrowthWorks Capital (Working Opportunity Fund) —become Victhom shareholders. Neurostream has developed a lead product called Neurostep, a device that uses patented nerve cuff electrodes and amp