As interest in neuromuscular activation tools accelerates across elite sport, Control Bionics Limited (ASX:CBL) is positioning itself to capture a growing performance market by moving to acquire full ownership of Neuro Elite Athletics, the U.S. group behind the NeuroBounce program.
The company has been building an adjacent footprint in athletic performance through electromyography (EMG)-driven technology, and their latest move strengthens that push. Control Bionics CEO Jeremy Steele says the early traction in the program has highlighted a broader commercial opening.
“NeuroBounce has shown promising early traction,” he says, adding that closer integration with the group’s platform supports a more cohesive growth strategy.
Acquire Majority Stake
Control Bionics’ U.S. subsidiary, Control Bionics Ngage (CBN), has entered into an agreement – still subject to contract – to acquire the remaining 77.83% of Neuro Elite Athletics.
The business was first backed by Control Bionics in 2024. Since that initial stake, the NeuroBounce program has continued to attract athletes and coaches in the U.S. and Australia, drawn by its blend of neuromuscular activation techniques and measurable improvements in explosiveness, power and jumping capability.
Steele says bringing the business inside the group will support tighter alignment with its internal tech teams.
“Bringing the business fully into Control Bionics allows us to integrate it more tightly with our technology and commercial teams,” he says.
The Deal Will Be Shares-funded
CBN will fund the acquisition of Neuro Elite through the issue of Control Bionics ordinary shares.
The transaction values Neuro Elite Athletics at US$500,000, with Control Bionics to pay US$389,150 for the outstanding equity. The number of shares to be issued will be set using the company’s 5-day VWAP before closing. Based on a closing price of $0.079 on 2 December, the deal will see around 7.5 million new shares issued, or 1.9% of issued capital.
These new shares will be subject to a 12-month escrow.
Steele says full ownership creates a cleaner execution pathway.
“This sets the foundation for faster rollout, deeper engagement with performance partners and a clearer pathway to growth in the U.S. and Australia.”
Integrate Technology and IP
Once completed, Neuro Elite Athletics will become a wholly owned subsidiary. Control Bionics will acquire all associated intellectual property, staff and assets, enabling the group to consolidate the NeuroBounce program with its EMG-based product suite, including the NeuroStrip.
Neuro Elite Athletics founder Steve Bennett says the move formalises an already productive partnership.
“This acquisition is the natural next step in what has already been an incredibly strong and productive partnership,” he says.
He added that shared values between the two businesses made deeper integration a logical evolution.
“Bringing our two 20-year-old businesses together allows us to fully integrate our complementary strengths, accelerate innovation, and deliver even greater value to athletes, teams and coaches.”
Bennett will continue his work within the broader group.
Target Completion by December 2025
The acquisition remains subject to confirmatory due diligence and execution of final documentation, with completion targeted for late December 2025.
If finalised, the deal gives Control Bionics a more direct pipeline into high-growth sectors such as sports performance, health diagnostics and rehabilitation, all areas underpinned by its expanding EMG technology platform.
Control Bionics has more than 20 years’ experience developing EMG-driven devices, with operations spanning North America, Australia, Singapore and Japan.
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