News

Neurotech Reports Editors Select Winners of 2004 Gold Electrode Awards Neurotech Reports, the publisher of this newsletter, has announced the recipients of the 2004 Gold Electrode Awards, which recognize individuals and organizations within the neurotechnology field based on their contribution to the growth and development of the industry. Readers of Neurotech Business Report were given an opportunity to make nominations and the selections were made Neurotech Reports.

The Year in Review As years go, 2004 was better in many respects than the three that preceded it. From a financial standpoint, the biggest news was undoubtedly Boston Scientific Corp.’s purchase of Advanced Bionics [NBR Jun04 p1], a deal that could be worth $2 billion or more. This valuation has profoundly affected the venture capital community’s perception of the neurotechnology industry [see article, p1].

Novel Neurotech Approach Uses Sensory Stimulation , senior technical editor and James Cavuoto, editor While many first generation neurostimulation devices have endeavored to activate motor fibers in order to restore functions lost as a result of neurological diseases and disorders, a new class of devices is targeting sensory fibers in an effort to treat sensory dysfunction and eventually restore lost motor function as well.

Going Deeper with DBS Deep brain stimulation (DBS) has been one of the most successful examples of implanted neurotechnology devices to reach the market. But as we report in this issue, the first generation of devices currently in use just scratches the surface in terms of efficacy and applications. Succeeding generations of DBS systems will need a higher degree of placement accuracy, which is leading to new hardware, software, and imaging systems used in neurosurgery [see Warren Grill’s article, p1].

Second Sight Enters R&D Agreement with Energy Dept. for Artificial Retina Second Sight Medical Products Inc., the Sylmar, CA developer of visual prostheses, announced it has entered into a cooperative research and development agreement with the U.S., Department of Energy’s Artificial Retina Project. The agreement brings together Second Sight’s work in implantable retinal stimulators with research conducted at five national laboratories and three universities.

Spreading the Energy As it has in previous years, the 2004 Neurotech Leaders Forum, held in San Francisco Oct 4-5, offered a valuable opportunity for many of the technical, financial, and management leaders in this new industry to meet in one place. The event allowed participants to discuss issues of specific relevance to neurotechnology without the worry of being overshadowed biotechnology, medical devices, and life sciences industries.

Neurotech Leaders Forum Participants Discuss Technical and Management Issues Staff Report About 70 neurotechnology executives and financial professionals met in San Francisco earlier this month for the fourth annual Neurotech Leaders Forum, organized . During a well received keynote address, Chris Chavez, president and CEO of Advanced Neuromodulation Systems, Inc., described many of the technical and management issues he confronted building the company into a successful and profitable firm during his tenure.

Neurotech Leaders Forum to Include Short Course on Investment The fourth annual Neurotech Leaders Forum, scheduled for October 4-5, 2004 at the Crowne Plaza San Francisco International Airport, will move to a two-day format for the first time. On the afternoon of the first day, the event will feature a short course devoted to investment advice for neurotech start-ups and early-stage firms. The sess…

Swords into Neurons When Howard Hughes formed the medical institute that bears his name in 1953, some saw it as a scheme to shelter income from his newly formed Hughes Aircraft Company from the clutches of the Internal Revenue Service. Hughes was reportedly no great fan of the IRS, and altruism aside, the opportunity to deprive the government of tax revenue from his aircraft business seemed too good to pass up, the story goes.

Leveling the Playing Field The FDA’s decision to deny approval of Cyberonics’ VNS therapy for treatment-resistant depression [see article, this page] is as troubling as it is confounding. Like Cyberonics CEO Skip Cummins, we find the decision “totally outrageous, incomprehensible, and out-of-the-blue.” But we also wonder whether undue influence from the pharmaceutical industry, which makes $14 bill…