MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Nov. 28, 2023 (GLOBE NEWSWIRE) -- ReWalk Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), a leading provider of innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions, announced the successful demonstration of a proof-of-concept next-generation exoskeleton. As part of the Israel Innovation Authority’s MAGNET incentive program, the Human Robot Interaction Consortium (the “HRI Consortium”), the company has reached a milestone by integrating advanced sensing technologies and artificial intelligence (“AI”) to enable autonomous decision making in the Company’s latest exoskeleton prototype.
“We have successfully demonstrated that by combining advanced sensor technology and artificial intelligence, the ReWalk Exoskeleton can detect and react to changes in terrain, leading to a potentially new generation of smart exoskeletons,” said David Hexner, Vice President of Research & Development at ReWalk. “We continue to advance our design objectives for the next generation of exoskeletons by making them easier and safer to use, reducing the cognitive load on the user, and broadening the use case to more activities of everyday life.”
“With today’s announcement, ReWalk continues its tradition of innovation in the design and practical use of exoskeletons for individuals living with spinal cord injury,” said Larry Jasinski, CEO of ReWalk. “As our recent success with Medicare continues to broaden coverage for exoskeletons, ReWalk is committed to making exoskeletons more accessible and easier to use with each generation. We are excited to fully incorporate these advancements into future ReWalk exoskeletons.”
The MAGNET incentive program provides R&D and collaboration grants to private businesses and leading academic centers. The goals of the HRI Consortium are to “develop advanced technologies aimed at providing robots with social capabilities, enabling them to carry out various tasks and effective interactions with different users in diverse operational environments.” The Consortium seeks to develop a Human-Robot Interaction Toolkit for Robot Operating Systems which could potentially yield income to contributing members.
As a member of the HRI Consortium, ReWalk collaborates with several universities to develop advanced technologies aimed at improving the human-exoskeleton interaction. With top researchers in the fields of robotics, behavioral sciences, and human-computer interaction, this research seeks to widen adoption by making the use of exoskeletons easier, more natural and more broadly accepted. The Consortium is a three-year project which started in May 2022. ReWalk is one of nine companies participating in the HRI Consortium, in addition to several Israeli universities.
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. is a medical device company that designs, develops, and commercializes innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions. ReWalk’s mission is to fundamentally change the quality of life for these individuals through the creation and development of market leading technologies. Through its recent acquisition of AlterG, Inc., ReWalk has added anti-gravity systems to its growing portfolio of products. Founded in 2001, ReWalk has operations in the United States, Israel, and Germany. For more information on the ReWalk systems, please visit rewalk.com. For more information on the AlterG systems, please visit alterg.com.
ReWalk® and ReStore® are registered trademarks of ReWalk Robotics Ltd. in the United States and other jurisdictions. AlterG® is a registered trademark of AlterG, Inc. in the United States and other jurisdictions.
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, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements may include projections regarding ReWalk's future performance and other statements that are not statements of historical fact 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 are more fully discussed in ReWalk’s periodic filings with the Securities and Exchange Commission (“SEC”), including the risk factors described under the heading "Risk Factors" in ReWalk's annual report on Form 10-K and 10-K/A for the year ended December 31, 2022 filed with the SEC and other documents subsequently filed with or furnished to the SEC. 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.
ReWalk Media Relations:
LifeSci Communications
E: media@rewalk.com
ReWalk Investor Contact:
Mike Lawless
Chief Financial Officer
ReWalk Robotics Ltd
E: investorrelations@rewalk.com
