Canada-based Ergoresearch Ltd, which designs and manufactures technologies for the orthopedic industry, announced that its wholly owned subsidiary Victhom Laboratory Inc received a net royalty payment of $590,000. That represents its share of the net proceeds generated by the monetization transaction of the sleep apnea technology completed by its German partner Otto Bock Healthcare. Under the terms of the royalty agreement between Victhom Laboratory and Otto Bock Healthcare, the sleep apnea technology could also generate additional royalty payments on future net sales if the sleep apnea technology is commercialized.

M. Sylvain Boucher, president and CEO of Ergoresearch, says in a release: “The technology, based on the neurostimulation platform developed by Victhom, is an implantable medical device for recording and stimulation of peripheral nerves for treatment of obstructive sleep apnea. It can detect sleep apnea and deliver therapy only when necessary….Even though the transaction is under a confidentiality agreement, this monetization event represents a strong validation of the potential of the sleep apnea technology.”