MARLBOROUGH, Mass., April 29, 2022 (GLOBE NEWSWIRE) — ReWalk Robotics, Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Firm”), a number one producer of robotic medical expertise for individuals with decrease extremity disabilities, at the moment introduced its membership within the Human Robotic Interplay (HRI) Consortium, a part of the Israel Innovation Authority’s MAGNET incentive program. This incentive program supplies grants for R&D collaboration as a part of a consortium comprised of personal companies and main educational facilities. The objectives of the HRI consortium are to “develop superior applied sciences geared toward offering robots with social capabilities, enabling them to hold out numerous duties and efficient interactions with completely different customers in numerous operational environments.”
The full program has a funds of NIS 57 million, which incorporates funding for analysis and growth grants to assist drive technological innovation. The primary 18-month interval of the grant has allotted NIS 1.745 million to fund ReWalk-specific initiatives.
“ReWalk is proud to proceed our legacy as an organization rooted in collaboration between Israel and the USA,” stated CEO Larry Jasinski. “Committing substantial R&D funding to human-robotic interplay will assist foster larger developments in expertise at a second once we are seeing reimbursement progress within the US and Germany. It will allow entry for people desirous to stroll, coupled with expertise paths that may broaden adoption within the years forward.”
As a member of the HRI Consortium, ReWalk will collaborate with a number of universities to develop superior applied sciences geared toward bettering the human-exoskeleton interplay. This analysis collaboration with high researchers within the fields of robotics, behavioral sciences and human-computer interplay will search to make using exoskeletons simpler and extra pure with the intention to promote wider adoption of the expertise.
“This program is anticipated to spice up our technological capabilities and permit us to introduce groundbreaking applied sciences in our present and future merchandise,” stated David Hexner, VP of R&D at ReWalk.
The Consortium is a 3-year undertaking, with the primary assembly of the HRI cohort scheduled for Could 2022. ReWalk is one in every of 9 firms taking part within the HRI Consortium, along with a number of Israeli universities.
About ReWalk Robotics Ltd. ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for people with decrease limb disabilities because of spinal wire damage or stroke. ReWalk’s mission is to basically change the standard of life for people with decrease limb incapacity by means of the creation and growth of market main robotic applied sciences. Based in 2001, ReWalk has headquarters within the U.S., Israel and Germany. For extra data on the ReWalk programs, please go to rewalk.com ReWalk® is a registered trademark of ReWalk Robotics Ltd. in Israel and the USA. ReStore® is a registered trademark of ReWalk Robotics Ltd. within the United States, Europe and the UK.
Ahead-Wanting Statements Along with historic data, this press launch comprises forward-looking statements inside the which means of the U.S. Personal Securities Litigation Reform Act of 1995, Part 27A of the U.S. Securities Act of 1933, as amended, and Part 21E of the U.S. Securities Trade Act of 1934, as amended. Such forward-looking statements might embody projections relating to ReWalk’s future efficiency and different statements that aren’t statements of historic reality and, in some instances, could also be recognized by phrases like “anticipate,” “assume,” “consider,” “proceed,” “might,” “estimate,” “count on,” “intend,” “might,” “plan,” “potential,” “predict,” “undertaking,” “future,” “will,” “ought to,” “would,” “search” and related phrases or phrases. The forward-looking statements contained on this press launch are primarily based on administration’s present expectations, together with with respect to any anticipated advantages from ReWalk’s participation within the HRI Consortium, which can’t be assured and are topic to uncertainty, dangers and adjustments in circumstances which are tough to foretell, a lot of that are exterior of ReWalk’s management. Vital components that would trigger ReWalk’s precise outcomes to vary materially from these indicated within the forward-looking statements embody, amongst others: uncertainties related to future medical trials and the medical growth course of, the product growth course of and U.S. Food and Drug Administration (“FDA”) regulatory submission assessment and approval course of; the adversarial impact that the COVID-19 pandemic has had and should proceed to have on the Firm’s enterprise and outcomes of operations; ReWalk’s capability to have ample funds to satisfy sure future capital necessities, which might impair the Firm’s efforts to develop and commercialize current and new merchandise; ReWalk’s capability to take care of compliance with the continued itemizing necessities of the Nasdaq Capital Market and the chance that its strange shares will probably be delisted if it can not accomplish that; ReWalk’s capability to take care of and develop its repute and the market acceptance of its merchandise; ReWalk’s capability to realize reimbursement from third-party payors, together with the Facilities for Medicare & Medicaid Providers (CMS), for its merchandise; ReWalk’s restricted working historical past and its capability to leverage its gross sales, advertising and coaching infrastructure; ReWalk’s expectations as to its medical analysis program and medical outcomes; ReWalk’s expectations relating to future development, together with its capability to extend gross sales in its current geographic markets and increase to new markets; ReWalk’s capability to acquire sure parts of its merchandise from third-party suppliers and its continued entry to its product producers; ReWalk’s capability to enhance its merchandise and develop new merchandise; ReWalk’s capability to acquire clearance from the FDA to be used of the ReWalk Private gadget on stairs; ReWalk’s compliance with medical gadget reporting laws to report adversarial occasions involving its merchandise, which might lead to voluntary corrective actions or enforcement actions comparable to necessary remembers, and the potential affect of such adversarial occasions on ReWalk’s capability to market and promote its merchandise; ReWalk’s capability to realize and preserve regulatory approvals; ReWalk’s capability to take care of satisfactory safety of its mental property and to keep away from violation of the mental property rights of others; the chance of a cybersecurity assault or breach of ReWalk’s IT programs considerably disrupting its enterprise operations; ReWalk’s capability to make use of successfully the proceeds of its choices of securities; and different components mentioned underneath the heading “Threat Components” in ReWalk’s annual report on Type 10-Okay for the yr ended December 31, 2021 filed with the Securities and Trade Fee (“SEC”) and different paperwork subsequently filed with or furnished to the SEC. Any forward-looking assertion made on this press launch speaks solely as of the date hereof. Components or occasions that would trigger ReWalk’s precise outcomes to vary from the statements contained herein might emerge once in a while, and it’s not doable for ReWalk to foretell all of them. Besides as required by regulation, ReWalk undertakes no obligation to publicly replace any forward-looking statements, whether or not because of new data, future developments or in any other case.
ReWalk Media Relations: Jennifer Wlach E: firstname.lastname@example.org ReWalk Investor Contact: Almog Adar Director of Finance ReWalk Robotics Ltd. T: +972-4-9590130 E: email@example.com