Montréal, April 4, 2007 – The Solidarity Fund QFL (the "Fund") is proud to announce a $5 million investment in Victhom Human Bionics Inc. (“Victhom”). The funds will enable the company to, among other things, complete clinical trials of certain products and register them with the European and American health authorities before proceeding to the marketing phase.
Located in Saint-Augustin-de-Desmaures, near Québec City, Victhom is a medical device company that specializes in the development and commercialization of bionic devices aimed at improving the quality of life of individuals suffering from certain physical dysfunctions. Its 70 specialized employees are divided into two units: one develops prostheses and bionic orthotic devices while the other works on neuromodulation devices such as the Neurostep. The latter is an electrical stimulation device aimed at alleviating foot drop, a walking problem sometimes associated with stroke.
The company has already carved a reputation in the medical field as the creator of the first motorized leg in the world, known as the Power Knee bionic leg. The only device on the market capable of providing the necessary power to restore leg function in amputees, Power Knee is now being marketed in various large American and European cities.
According to the Fund’s Executive Vice-President, Life Sciences, Michel Lagueux, “We look to invest in innovative companies that have vision and that do what it takes to grow. Victhom has a strong management team and highly specialized employees, which is why it’s been able to distinguish itself on the international scene. At the Fund, we’re aware that in some sectors, lengthy, critical stages must be completed before going to market. That’s the reason we offer patient capital. We’re proud to align ourselves with a dynamic company such as Vithcom and look forward to backing them through the upcoming phases of their development.”
About the Solidarity Fund QFL With net assets of over $6.8 billion, the Solidarity Fund QFL is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 1,681 companies. It currently has nearly 570,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and support over 116,000 jobs. For more information, visit
www.fondsftq.com Note:
the telephone number provided below is for the exclusive use of journalists and other media representatives.Source: Josée Lagacé
Senior Advisor, Press Relations and Communications
Solidarity Fund QFL
Telephone: 514 850-4835
Email:
jlagace@fondsftq.com