The collaboration looks to design a suit to treat stroke, multiple sclerosis and mobility limitations for the elderly as well as other applications.
Through the agreement, ReWalk will pay Harvard in quarterly installment payments to fund the research, with reports from the research being relayed between the groups on a regular basis.
ReWalk Robotics will be able to negotiate with Harvard to license new inventions created under the collaboration, according to an SEC filing. The agreement is set to expire on May 16, 2021, ReWalk said.
“ReWalk brings commercialization expertise and experience in the area of wearable robotics and complements our translation-focused research. Ultimately this agreement paves the way for this technology to make its way to patients,” Harvard School of Engineering professor Conor Walsh said in a prepared statement.
The original technology for the suit, developed as a collaboration between Boston University and Harvard’s Wyss Institute, will be licensed to ReWalk with patents retained by Harvard for additional development.
“There is a great need in the health care system for lightweight, lower-cost wearable exoskeleton designs to support stroke patients, individuals diagnosed with Multiple Sclerosis and senior citizens who require mechanical mobility assistance. This collaboration will help create the next generation of exoskeleton systems, making life-changing technology available to millions of consumers across a host of patient populations,” ReWalk CEO Larry Jasinski said in a prepared statement.