MARLBOROUGH, Mass. and YOKNEAM ILIT, Israel, July 25, 2017 /PRNewswire/ -- An in-depth story in TechCrunch covers the recent public debut of Restore, the new soft suit exoskeleton created in collaboration by ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk") and Harvard University's Wyss Institute for Biologically Inspired Engineering.
ReWalk and the Wyss Institute provided the first public demonstration of the Restore prototype at the MassRobotics event held on the campus of the Massachusetts Institute of Technology (MIT) earlier this month. Restore is a soft suit exoskeleton system intended to assist stroke survivors. The TechCrunch piece explains in detail how the device works:
"The device…relies on a motor built into a waistband that controls a pair of cables that operate similarly to bicycle brakes, lifting a footplate in the shoe and moving the whole leg in the process. The unaffected leg, meanwhile, has sensors that measure the wearer's gait while walking, syncing up the two legs' movement. An able-bodied representative from Harvard was on-hand at the event, demonstrating how the system automatically adjusts when walking at different speeds."
ReWalk and Wyss premiered the Restore prototype on Yahoo Finance in June.
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 fiscal 2016 and the first quarter of 2017, and the opinion of ReWalk's auditors in their report on the Company'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 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 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; 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.
Investor Contact: Lisa M. Wilson, President, In-Site Communications, Inc., T: 212-452-2793, E: lwilson@insitecony.com; Media Contact: Jennifer Wlach, T: 202-261-4000, E: media@rewalk.com
