The company presented the prototype alongside collaborators from Harvard University’s Wyss Institute for Biologically Inspired Engineering, and said it would focus on the suit as a “core company goal” for the fiscal year.
“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. 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,” CEO Larry Jasinki said in a prepared statement.
ReWalk said it is working with the Wyss Institute to develop lightweight designs for clinical studies, as well as to pursue regulatory clearance and commercialization of the device for the global market. The 1st application will be for stroke survivors, followed by devices designed for individuals with multiple sclerosis and other applications.
The Restore system is designed to transmit power to key joints of the legs with cable technology, powered by software and mechanics similar to those used in its ReWalk exoskeleton.
In April, shares in ReWalk Robotics dropped nearly 4% after an analyst with Barclays downgraded the stock, citing “lack of tangible progress” and increased competition from other players in the robot-assisted rehabilitation market.
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
At DeviceTalks Boston, MacMillan will provide exclusive insights into the Massachusetts-based company and its evolving definition of women's healthcare. You don't want to miss it!
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