MARLBOROUGH, Mass. and
YOKNEAM ILIT, Israel,
June 19, 2017 /PRNewswire/
-- ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk"), leading
manufacturer of exoskeleton systems, premiered the prototype for a
soft suit exoskeleton intended to assist stroke survivors on
Yahoo Finance.
ReWalk CEO Larry Jasinski
was joined by collaborators from Harvard University's Wyss Institute
for Biologically Inspired Engineering to showcase the prototype,
called Restore, and demonstrate how the system works. ReWalk
announced a focus on the development of the soft suit as a core
company goal for FY2017.
"We are thrilled with the progress of the Restore system,
which will provide life changing technology to a whole new class of
patients facing mobility issues," said Jasinski. "With the
prototype finished, we are eager to begin clinical studies and
pursue regulatory approvals so that these systems can be provided
to millions of patients who can benefit from access to the
device."
ReWalk is working with the Wyss Institute on the
development of lightweight designs to complete clinical studies,
pursue regulatory approvals and commercialize the systems on a
global scale. The first commercial application will be
for stroke survivors, followed by Multiple Sclerosis patients and
then additional applications. There are an estimated 3 million
stroke survivors with lower limb disability in the
U.S.
How It Works: the Restore
transmits power to key joints of the legs with cable
technologies, powered with software and mechanics that are similar
to the technologies used in the ReWalk exoskeleton system for
individuals with spinal cord injury. The cables are connected to
fabric-based designs that attach to the legs and foot, thus lending
the name "soft suit."
Anticipated delivery of a commercial Restore soft suit is
slated for 2018.
Watch the Yahoo Finance segment
here.
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 and to expand to new markets; the
conclusion of ReWalk's management, and the opinion of ReWalk's
auditors in their report on the Company's consolidated financial
statements for the fiscal year ended December 31, 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 to achieve
and maintain market acceptance of its products; ReWalk's ability to
achieve reimbursement from third-party payors for its products;
ReWalk's ability to repay its secured indebtedness; 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 actions 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 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 use effectively the proceeds of its 2016 follow-on offering;
ReWalk's ability to secure capital from its at-the-market equity
distribution program based on the price range of its ordinary
shares and conditions in the financial markets; ReWalk's ability to
maintain relationships with existing customers and develop
relationships with new customers; ReWalk's ability to regain
compliance with NASDAQ continued listing requirements; 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 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/rewalk-unveils-soft-suit-exoskeleton-for-stroke-patients-300475663.html
SOURCE ReWalk Robotics Ltd.