YOKNEAM ILIT, Israel and
MARLBOROUGH, Mass., Oct. 16, 2017 /PRNewswire/ -- ReWalk
Robotics Ltd. (Nasdaq: RWLK) ("ReWalk") today announced that the
soft exosuit technology currently in development has entered the
next phase of testing and verification in collaboration with
researchers at Harvard University's
Wyss Institute for Biologically Inspired Engineering. This phase of
testing includes evaluating the ReWalk exosuit system that is based
on Wyss Institute exosuit technology with individuals who have had
a stroke, in preparation for upcoming clinical trials to be run at
clinical sites in 2018.
This technology is designed for use by stroke survivors with
lower limb disability. Soft exoskeleton technology, also
called a soft exosuit, is being designed to serve a number of
patient populations, including individuals with Multiple Sclerosis,
Parkinson's Disease and other mobility challenges.
In 2016, ReWalk announced a collaboration with the Wyss
Institute to support ongoing technology development and testing of
lightweight exoskeleton system concepts and designs for lower limb
disabilities and licensed intellectual property (IP) from
Harvard University. The soft suit
design transmits power to key joints of the legs with cable
technologies and fabric-based designs; the soft suit is powered
with software and mechanics that are similar to the technologies
used in the ReWalk exoskeleton system for individuals with spinal
cord injury (SCI).
"Utilization of the technology in an IRB approved research
study, ahead of our clinical trials planned for next year, is a key
milestone in the larger effort to pursue regulatory approval and
eventually offer a commercial product to millions of patients who
need ambulatory assistance," said ReWalk CEO Larry Jasinski. "We continue to work in
earnest on rigorous testing and design modification to develop the
best technology for disabled individuals."
For more about ReWalk, please visit: www.rewalk.com
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable
robotic exoskeletons for individuals with spinal cord injury. Our
mission is to fundamentally change the quality of life for
individuals with lower limb disability through the creation and
development of market leading robotic technologies. Founded in
2001, ReWalk has headquarters in the U.S., Israel and Germany. For more information on the ReWalk
systems, please visit www.rewalk.com.
ReWalk® is a registered trademark of ReWalk Robotics Ltd. in
Israel.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995, Section 27A of
the U.S. Securities Act of 1933, and Section 21E of the U.S.
Securities Exchange Act of 1934. Such forward-looking statements
may include projections regarding ReWalk's future performance and,
in some cases, may be identified by words like "anticipate,"
"assume," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"future," "will," "should," "would," "seek" and similar terms or
phrases. The forward-looking statements contained in this press
release are based on management's current expectations, which are
subject to uncertainty, risks and changes in circumstances that are
difficult to predict and many of which are outside of ReWalk's
control. Important factors that could cause ReWalk's actual results
to differ materially from those indicated in the forward-looking
statements include, among others: ReWalk's expectations regarding
future growth, including its ability to increase sales in its
existing geographic markets, expand to new markets and achieve its
planned expense reductions; the conclusion of ReWalk's management
for the financial statements for the second quarter of 2017 and for
fiscal 2016, and the opinion of ReWalk's auditors in their report
on ReWalk's financial statements for fiscal 2016, that there are
substantial doubts as to ReWalk's ability to continue as a going
concern; ReWalk's ability to maintain and grow its reputation and
the market acceptance of its products; ReWalk's ability to achieve
reimbursement from third-party payors for its products; ReWalk's
expectations as to its clinical research program and clinical
results; ReWalk's expectations as to the results of, and the Food
and Drug Administration's potential regulatory developments with
respect to, ReWalk's mandatory post-market 522 surveillance study;
the outcome of ongoing shareholder class action litigation relating
to ReWalk's initial public offering; ReWalk's ability to repay
its secured indebtedness; ReWalk's ability to improve its products
and develop new products; ReWalk's ability to maintain adequate
protection of its intellectual property and to avoid violation of
the intellectual property rights of others; ReWalk's ability to
gain and maintain regulatory approvals; ReWalk's ability to secure
capital from its equity and debt financings in light of limitations
under its Form S-3, the price range of its ordinary shares and
conditions in the financial markets, and the risk that such
financings may dilute ReWalk's shareholders or restrict its
business; ReWalk's ability to use effectively the proceeds of its
2016 follow-on offering; ReWalk's ability to maintain relationships
with existing customers and develop relationships with new
customers; the impact of the market price of ReWalk's ordinary
shares on the determination of whether ReWalk is a passive foreign
investment company; ReWalk's compliance with medical device
reporting regulations to report adverse events involving its
products and the potential impact of such adverse events on
ReWalk's ability to market and sell its products; and other factors
discussed under the heading "Risk Factors" in ReWalk's Annual
Report on Form 10-K for the year ended December 31,
2016, as amended, filed with the U.S. Securities and Exchange
Commission and other documents subsequently filed with or
furnished to the U.S. Securities and Exchange Commission. Any
forward-looking statement made in this press release speaks only as
of the date hereof. Factors or events that could cause ReWalk's
actual results to differ from the statements contained herein may
emerge from time to time, and it is not possible for ReWalk to
predict all of them. Except as required by law, ReWalk undertakes
no obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise.
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SOURCE ReWalk Robotics Ltd.